Everybody likes to save money, and in today’s economy that’s more true for your customers than ever before. Coupons don’t have to mean you make less money. In fact, you can offer coupons on specific products that aren’t selling and you need to move, or offer them during slower seasons of the year.
Coupons can also be used to show customers how much you value them and their continuing business with you. You can reward them for their loyalty or for the dollar value of their purchases.
If coupons are offered online, most shopping carts can be easily programmed to accept coupon codes. However, coupons can be redeemed in-store, on phone or mail orders too.
You can use coupons to direct customers to particular items or ways of ordering that you believe will reinforce their relationship with you. For example, when we do trade shows we offer customers 15-25% off coupons if they follow up by placing an order on our website. Customers who visit our store for the first time while traveling as tourists to our region are also given coupons to place orders on our website when they get home.
Here are a few coupon reward strategies and types of coupons to consider:
Reward Frequent Customers
You can reward customers for their loyalty by providing coupons when they buy a particular dollar amount, or include specific items in their purchase. Customers appreciate being recognized and rewarded for their loyalty to you! This coupon can be provided online or in person.
Reel In Repeat Customers
Give your customers a reason to come back after making a purchase for the first time. If they buy in person, give them a coupon to purchase from your website. If a customer orders online first, you can provide coupons for ordering online when they return.
Online coupons that a customer can print off and bring with them also gives you feedback about how your website is being used. Coupons can also be emailed after a customer makes a purchase, or sent via snail mail if you have their mailing address.
First Time Customers
First time customers who need a little extra reason to take the risk and ‘try’ a new product or supplier can often be persuaded by a coupon specifically for first time customers.
Loyal Newsletter Subscribers
Customers can be rewarded for their loyalty when you put coupons in newsletters, because odds are customers who receive your newsletter have either purchased from you before or asked to hear from you in the future. Targeting and rewarding these loyal customers can only increase your sales.
Cross Sell Related or Popular Products
You know your products and you know what your customers like. Once they buy one product, you probably know which additional products they are more likely to need or want. You can provide coupons toward the purchase of those related items.
Get Buyers Off the Fence
You may not be able to watch your potential customers when they peruse your website, but offering percentage off coupons or free shipping opportunities are certainly ways to persuade a shopper to go ahead and checkout with their purchase, rather than wandering off to another site.
Do you believe in coupons? What coupon or combination of coupons works best for you? What coupons will persuade you to buy from a business?
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