Five Reasons why Coupons are Good for your Online Business
Don’t we all drool over those little cards called coupons? Yes everyone loves coupons and for a seller, coupons achieve multiple goals - They help acquire new customers, retain existing customers, increase return customers and much more.
Coupons can be distributed online or you can also have the Vouchers and discounts coupons shipped along with your product. Pizza chains use this effectively with various kinds of discounts and a brief snapshots of their latest pizza variants and toppings.Coupons are a great medium to showcase your product and give long term effects on your brand awareness apart from pumping up the sales volumes.
How does shipping coupons along with your product help your online business?
1: Branding: One of the major goals in distributing coupons is to project your brand and to expose it to maximum people. Coupons are like small advertisements which you can spread and tap into.
2: Retaining existing customers: Coupons have a feel good factor about them. Giving existing customer coupons makes them feel a whole lot special and increases your return customer count. You can also use these fliers to appease unhappy customers.
3: Getting new customers: People love discounts and they are more likely to share those coupons with their friends and relatives. This helps you gain new customers!
4: Achieving sales targets: If you are seeing a downward trend on your sales graph, go ahead with some coupon distribution. These are a great way to boost up the sales numbers in the short term.
5: Clearing excess or old stock: As a retailer you often end up stocking more than you can sell or there are times where you have loads of unsold old stocks. To clear these, you can run a coupon campaign and ship these at a discounted price and increase your sales.
So what all should your coupon contain to make it as effective as possible?
• Brand name: Flash your brand name and increase brand awareness.
• A well-crafted offer: Make a tempting offer worth redeeming.
• Best possible product image: Put up an irresistible looking product image.
• A legal note if necessary: To ensure these are not misused.
• Coupon expiry date: People love exclusive stuff so make time limited coupons to tap the full potential of your coupon campaign.
• Your company Name & Address: Ensure your contact details are available on coupon.
• Tracking Code: Helps you to measure the effectiveness of your coupon strategy.
Have a tracking ID on the coupons so it is easier for you to track which coupon and voucher coupon campaign paid off. Do a research on what works and what doesn’t, this will help you cut down on wasteful campaigns and concentrate more on what works! Happy selling! :)
Need help to create a coupon? Use these tools to create your own personalized discount coupons.
So what are you waiting for? Ship out some mouth watering coupons!
(We wont mind if you could send some of those our way ;) )
Are there more innovative ways to use coupons? How did coupons and vouchers help your business? Do let us know! :)