According to the Promotional Marketing Association, 79 percent of Americans used coupons last year to save money on all sorts of products and services. In the midst of a difficult economy, it is more important than ever that you as a business owner take steps to maintain your current client base and acquire new customers simultaneously, and coupons are a great way to accomplish just that. Here are a few ideas that can help you actually increase your profits and customer base with coupons:
Use Mobile Coupons
How many times have you (as a consumer) arrived at your favorite retail store or restaurant only to realize that you forgot the coupons you have at home? If so, you likely already realize the benefits of mobile coupons. Considering that one-third of the American population owns a smartphone, mobile coupons are one of the best ways to attract those consumers who use their smartphones for everything. Two of the most useful methods for reaching your customers with these coupons are through SMS text messaging and email. When you send these messages, it is a good idea to include promo codes on each coupon you send so consumers can present them to you when they visit your store or website.
Best Uses for Coupons
When you decide to launch your first couponing campaign, it can help to know some of the best offers to give your customers. Following are some of the most effective types of coupons:
- Discounts on prices
- Buy-one-get-one-free offers
- Free products to drive both foot and virtual traffic
- Sweepstakes entries
- Cross-selling offers
Bringing in New Customers with Coupons
One of the most useful ways to obtain new customers with coupons is through “coupon ads,” which let readers know that they can redeem the coupon for something free. This free offer depends significantly on what type of business you own. For example, if you have a fitness gym, you could run a coupon ad that offers a free 30-minute consultation with a certified trainer at your gym. When consumers visit your gym for the free consultation, you can show them the results they will receive by purchasing a gym membership.
When it comes to running coupons, keep in mind that you can never use enough media to generate leads. From newspapers and magazines to direct mail and SMS text messaging, the more places you run your coupons, the more likely you are to obtain new customers and retain existing ones.