Starfish Strategies- We Know Retail Marketing
Specializing in Marketing Strategy & Digital for retailers in Western Canada
Couponing is fun, especially when you are the shopper.
Offering coupons and other discounts to your customers and potential customers can be a good idea, under certain circumstances, but you should be aware of a few things before you decide to use couponing as your promotions strategy.
Plenty of customers shop based almost entirely on price. These people also love to use coupons. These people are what make offering coupons seem like a good idea because, well, they use them! You offer a discount and people come into your business, giving you the impression that they work. The trouble is that often these people are just as easily swayed AWAY from your business as they were swayed TO your business.
There are many customers who are not as motivated by coupons because they are more brand and experience based shoppers. They value the relationship and trust that your brand has created with them. Ideally, these are the types of customers that you want to attract so if you can create a coupon that entices relationship shoppers to do business with you, then couponing might be a valuable tool for you.
Ask yourself these kinds of questions:
- How can I create a coupon or special discount that encourages my target shopper to try my business, or to try a new or add-on item/service?
- Thinking of my relationship-based customers, what kind of coupon would they find valuable, that would encourage them to buy a complementary item or service from us?
Other tips about coupons:
- Always put an end date, and make it tight.
- Create a tracking method, whether it’s digital and in the backend of our website, or in the coupon/POS code. Be sure you can analyze results.
- Make it eye catching and similar to a sale ad. Use bright red or orange. Put the offer or deal as the main message and make it stand out!
- Include important details or hyperlinks so shoppers can quickly figure out how and where to shop and redeem their coupon.
Coupon wisely my friends.
Starfish Strategies- We Know Retail Marketing 