Everybody loves feeling like they’re getting a great deal, and coupons are a sure fire way to generate that sense of pleasure. But as a small business the idea of giving something away for nothing can feel very daunting. But don’t worry – we’re going to take a look at how you can harness the power of coupons and make them work for you!
How Can Coupon Marketing Benefit a Small Business?
Coupons are a cost-effective way for you to recruit new customers, sell more products, measure customer engagement, and reactivate any customers you might have lost along the way.
You can create coupons for your customers around your own business needs. For example, if you’re about to launch a new product line you could generate a percentage discount coupon code. Even better, you could create offer coupons to sell excess inventory to limit your waste.
Finally, coupons are a great way to reward loyal customers, encouraging repeat purchases or visits. Why not reward your customers with free shipping online or coupon codes for percentage discounts on their birthday?
Let’s take a look at important factors to consider when designing discount coupons for your brand.
Designing the Right Coupon Offer
It’s important your coupon marketing strategy is relevant to both your brand and your customers. It’s vital you’ve done the research into your customer’s habits and how they use your business. Tracking customer habits can also help you create coupons for your customers, offering deals they can’t resist.
Align your coupon campaign with your desired outcome – whether that’s generating new customers or increasing your online orders you can create a discount coupon that matches that. For example, free shipping for online orders, or a percentage discount at checkout for first time buyers.
No matter how you structure your offers, remember that your coupon is only valuable if it’s relevant to the consumer. This means it’s essential you do your research and understand your market before launching a coupon strategy.
Use the Right Promotional Channels
Deciding how to promote your coupon code once you’ve created it is as important. Make use of your social media channels and emails to link customers to your deals. There’s no point having a great offer that nobody can find.
If you’re offering a coupon code for free shipping, encourage new customers to receive the code via email so you can store their data for future offers and marketing campaigns.
App-based coupons and offers are also a sustainable way of offering deals, while encouraging your clients to connect with your brand on a new, digital level.
Customization Is Key
Your coupon should match your brand, in tone, style and look. Make sure you use your brand’s color scheme, and try and use the client’s name directly on the coupon. Personalization helps your coupon stand out, a customer is more likely to use a birthday coupon that they feel speaks directly to them.
Make sure your coupon campaign is visually appealing! Use graphics, gifs (if you’re sending digitally) and photos. And remember it’s all advertising, so include details like your company logo or links to your website and social media.
If design isn’t your thing, connect with a loyalty app like Glue Loyalty who can help create brand specific, engaging discounts coupons with ease.
Don’t Offer Too Many Deals
Your coupon codes won’t feel special if your client thinks they are always available. Bombarding your clients weekly with offers they don’t need will just irritate your customer base in the long run. It may even make them less likely to purchase without an offer. Coupons marketing is an effective strategy for driving traffic throughout the year, as long as they are applied carefully.
Make It a Limited Time Offer
By adding a deadline to your coupon codes you create a sense of urgency. Your customers won’t want to miss out. An expiry date helps with timely holiday deals too – like a Valentine’s gift, or a birthday promotion. Make sure the expiry date is clearly displayed. You don’t want to lose a purchase or new customer because they didn’t realize the offer expired. You can even send a reminder before the coupon code expires.
Appeal to Unique Customer Segments
Designing coupons to appeal to specific areas of your customer base is a great way to stay in control of your brand.
You can use email offers letting customers that haven’t visited you in the last six months know that you miss them, with a percentage discount incentive included. Or reward your biggest spenders with their own special deal.
What Can You Learn From Using Coupon Codes?
When you use Glue Loyalty to add coupons to your business model it’s really easy to track the success of your coupon codes. Make note of which coupons were successful with uptake from lots of clients, which generated sales, the value per transaction and the cost of the promotion.
All this information is vital when it comes to create coupons for your customers. With Glue Loyalty’s statistics & activity tracking dashboard you can see it all. They can even help generate your next coupon codes, targeting specific areas of your client base depending on your needs.
So get started today with Glue Loyalty and start creating coupons that drive your long-term repeat business, reward your customers and generate sales.