One of the best possible marketing strategies that you can use to grow your business’s bottom line is coupon marketing, and I’m not just hypothesizing here. In fact, there are several data, and statistics gathered all over the web that would back this idea — some of which I’ll share with you below.
If you’re about to make the decision of using coupon marketing but are still thinking twice about the value that you can get from it, then allow me to share with you the five hard-to-resist benefits of using this method of marketing.
1. It can help you win over your competitor’s customers.
“53% of adults living in high-income households (earning $200,000 a year or more) are willing to switch brands for the sake of using a coupon” – GfK
If you’re into using coupon marketing, then you don’t always have to view your competitors as someone whom you need to contend with, you can view them as a place where you can fish for more customers.
Think about it. If you’ll run a Facebook paid ad campaign where you’ll target the Facebook users that “Liked” or interacted with your competitor’s fan page, then you can somewhat ascertain that you’re marketing to the right set of people.
When you integrate your discount coupons to your Facebook ad’s creative design, then you’ll have two things going for you: a) you are marketing to the right audience, and b) you are leveraging the power of using discount coupons. Considering the figure that GFK discovered in their research, the synergism that you’ll get from both elements can surely help propel your business to greater heights.
2. It encourages your customers to take action on your offers.
“The results we get from using coupon marketing is often remarkable. Through using discount coupons, we are able to double our website traffic, get more leads, and we even get a spike in our sales.” – Jerry Hsieh, Moneylend.net
Convincing your customers that your product is worth their money is one thing, influencing them to take action on your offer is another.
As business owners, it’s important that we realize how our customers will tend to forget about us if they do not take immediate action on our offers. The more your customers delay in making the decision to buy, the higher the chances of you missing the sale.
Sure, the word “immediate” may vary from one industry to the other. As you can probably imagine, there is a huge difference in the meaning of the word “immediate” when we’re talking about the real estate industry, versus selling shoes. For the people involved in real estate, a couple of months can still be considered “immediate” considering how massive the dollar amount is involved in the transaction. However, when you’re selling shoes, anything past 1 – 2 months (maybe even weeks) can no longer be considered “immediate.”
Whatever the meaning is of the word “immediate” in your industry, you need to target that. And coupon marketing can help you with just that.
3. It increases your sales dramatically.
“315 billion coupons were issued in the U.S. in 2013, 2.8 billion were redeemed” – NCH
The figure is a clear giveaway of how potent of a tool discount coupons can be when it comes to growing your sales.
Even if you get only 1% of the entire 2.8 billion “pie”, you’ll still see a massive leap in your sales like you’ve never seen before.
A strategy that most business owners are using nowadays is to add their coupons on reputable high-traffic discount coupon websites like Dealspotr.com. A quick look at Dealspotr will give you an idea of why the site is such a goldmine. The site’s users are usually eager to share, upvote, or leave their feedback (mostly positive ones) to the people who are sharing the coupons. This drastically increases the chances of the discount offers going viral. It is for this reason that businesses (no matter what the size) are into using discount coupon websites.
4. It encourages brand loyalty.
“68% of consumers state that coupons generate loyalty” – RetailMeNot
There are a handful of reasons why you need to gun for brand loyalty, not only does it bring you long-term profits, but it also has the ability to influence your audience to market your business through word-of-mouth marketing among other things.
When we think about companies like Apple Inc. and how their customers react when they’re about to release a new phone, we are reminded of how powerful brand loyalty is. Their customers usually end up flocking in droves waiting for the stores to open so they’ll be one of the firsts to ever have the new phone. This kind of passion just doesn’t happen to other companies like Samsung.
When you have a passionate and a loyal customer base that are supporting your brand just like Apple Inc’s, then you’ll be able to reach a level of business stability that not many business owners will ever experience.
If you’re looking to influence your audience into becoming loyal customers, then you can use discount coupons to help you with just that.
5. It gives your customers’ a better shopping experience.
“80% of shoppers say that using coupons makes them feel smarter” – Inmar
When your customers feel good about themselves while shopping, there is a good chance that they’ll end up buying more since they can associate buying with a positive experience.
Here’s the thing, when your customers are using your discount coupons, they will end up praising themselves (even if secretly) since they were able to buy the things that they wanted at such an affordable rate — because they were smart enough to use your discount coupons.
This kind of feel-good experience can lower down your customers’ defenses making it easier for you to influence them to buy more from you.
At this point, the question you should be asking yourself is not whether you should be using discount coupons, you should be way past that by now. The question you need to be asking is how you’ll run you coupon marketing campaigns to get the best results. If there are questions or ideas that you’d like to share with us, please do so in the comments section below. Cheers!