How Businesses Can Make It Big Using Coupon Based Marketing
Coupon marketing has become an integral part of any online business. Coupons were originally invented as a tool for marketers and buyers to attract customers to increase sales. In today’s online market, coupons have gone through a total revamp. The modern day coupon are mostly eco-friendly, easy to use and promising! Statistics reveal that 88% of shoppers use at least one coupon in the span of three months. Coupon marketing comes in various forms, ways and interesting ways of execution. Read this blog to get a detailed guide on everything you need to know about coupon marketing for business.
India too has a classic coupon marketing case study of coupon marketing used by a leading e-tailing brand (name not to be disclosed). Initially, the founders of this company started their own business back in 2010. In the first three itself they sold around 15,000 coupons! It is possible to achieve such numbers in the Indian market only with efficient coupon marketing ideas. So what was the big idea? They kick-started as a coupon oriented business and soon introduced referral programs on various commodities they sold. Apart from this, they also launched ‘Get your first deal free’ offer among many other promotional events where they made efficient use of coupon marketing.
Types Of Discounts & Coupon Marketing
There are umpteen number of discounts, offers and coupons modern-day marketers have at their disposal. Let’s take a look at some frequently used ones:
Free Gift
A gift with any purchase can be the best way to provide additional value to your customers. When used strategically, it can be used to increase sales too, because who does not like to avail free gifts!
Scaling
As the name suggests, here the customer’s interest decides the discount value. For example: Buy 1 formal shirt and get 1 free. Let us see details of 2 famous coupons website:
This coupon manager has a search function that lets you search for stores, browse by department, help you find coupon codes that aren't expiring soon, and provide you with directions to specific stores. If you're having problems locating a specific coupon, you can use categories like 'home' or 'garden' to limit the number of codes that appear. An alternative to this is the type of discounting where you only find deals, or products where the price or value has been reduced by a certain percentage. Find the codes online and the AskmeOffers on their website.
We're happy to have to include the Review of CouponsABC on any list of the best coupon websites. But where it exceeds is that it by applying all possible coupons in a simple way to the checkout, the effect is that you get the best possible discounts. Promo codes are also found on the CouponsABC website. Check the store list of coupons to see if you have any options.
Best Platforms For Discount & Coupon Marketing
Coupon marketing and discounts have the power to accelerate your business growth 10x. But this is true and possible only with the right targeting and right platforms. Before you layout your coupon marketing campaign. We have listed down a few trending platforms you can use :
Social Media
Since the advent of social media, the first thing that strikes into our minds is hosting coupons there. No doubt, statistics reveal high success rates of social media coupon marketing. Facebook ads can be a good channel to target the right audience. Instagram’s business profiles show an insight of your audience- run ads on Instagram and make a way through the most used photo sharing app!
E-mails
E-mailers are the best form of communication for any business. They are personal, open and direct. Statistics show that on an average 20% emails are opened every day globally across various industries. Make the most of email marketing by sending follow up or trigger emails to your database regarding offers, discounts, deals, and coupons.
SMS
SMS still gives best recalls. Imagine you getting SMS from airlines service providers saying that they have 80% off on the next flight you book. At first, you ignore this message. You get the same SMS again. Most importantly, since there is a recall, you will make it a point to visit their website. That is it! SMS marketing, if pitched in the right manner can prove out to be a gem.
Other Media Channels
As the internet maybe difficult to access in the extreme interiors or far off places in the countries, going offline is a good option as well. Print media like newspapers, periodicals etc. and outdoor advertising have a stronghold in such places. As their expenses are on a lower side when compared to Tier 1 or 2 cities, discounts and coupon marketing works best.
Coupon Marketing Summed Up
Weaving all the dots together, we can say that offers and discounts are not right for every business! The pre-requisites for a successful coupon marketing campaign are: a clear goal in mind, a firm understanding of the product/ brand and the willingness to take risks and experiment. Like the case study mentioned above, when coupon marketing is done in its best form, it can leverage your business by 10x. It is an unsaid goal of any growing business to increase sales, widen the user-base and onboard new customers. Coupon marketing proves to be a golden key to unlock all that your business needs!
With all your marketing efforts for your business in place, it’s a good idea to have an all — in- one payment solution in place as well. Now to enjoy the best payment gateway experience and grow your business effortlessly!
