Why Coupon Merchandising Is Important + 3 Effective Ways To Add Them To Your Marketing Strategy
With the cost of goods steadily increasing, customers are continuously looking for ways to maximize savings. According to the popular coupon collection website RetailMeNot, 96% of all Americans are coupon users. Furthermore, 63% of shoppers say they want coupons to be more available to them 1. So, why not give the people what they want?
While providing discounts to your goods or services may delay profitable sales, it can have long-term benefits to better help your business. Providing coupons can help build your customer database, help promote goods or services lacking in sales, and persuade shoppers to spend more. Here are just a few ways you can advertise coupons for your business:
Including a coupon in your monthly newsletters or sales email encourages both sales and traffic to your website. Additionally, many people who enroll in email marketing tools can expect to receive something in return, such as a discount or offer. Providing a coupon to your customers can build brand loyalty and encourage repeat customers.
Social media advertising is a key component to growing your business, helping you reach new customers that are in the market for your product. Coupons can be advertised both organically or with your targeted ads. Facebook provides shoppers with the feature to “Get Offer” when they come across a deal that interests them. This offer is automatically saved in their links for use at any time, and mobile shoppers can copy-paste the offer code and start using it immediately. On the other hand, posting organically on your page can attract your current followers to visit your store and redeem.
98% of SMS messages get opened 2 Utilizing SMS is an efficient way to get your message in front of your customer quickly and effectively. Whether you’re offering a 20% discount or a BOGO deal, SMS can prompt your customers to take action. Text messages are also more personal than other tactics, creating a sense of an individualized offer.
We’ve covered “where” to advertise your coupons, but how about “what” to offer on your coupons? Finding the type of coupon that is right for your business can both maximize sales and persuade first-time buyers. Our team A/B tested various types of offers for an automotive client, finding that discounted sale price outperformed dollar off discounts by up to 46%.
Interested in implementing coupons into your marketing plan? The digital marketing experts at The Moran Group can customize a strategy for your business. Contact us today and see how we can help drive sales through coupon merchandising.