Using the opportunity of digital coupons and make them work for your company’s benefit it is an advertising strategy. It helps you get to your potential customers and interest them in what you are offering.
Promoting your company by this way is has multiple benefits and they range from presenting the new product to a wider viewers to increasing your sales when trends slow down.
Coupon marketing is based to attract and retain customers, taking advantage of customers interest in saving money on purchases, with the use of coupons codes and discounts.
Coupons can be offer in various forms. They can be public codes (Black Friday), used and personalized from a specific target group, unique coupon codes (valentines1234) that are for a very precise clients. They can be used in both B2B and B2C marketing
Coupons can be a very multipurpose marketing tool used effectively throughout the customer journey.
What types of digital coupons are there?
Downloadable coupons: Are available to consumers from different locations. Customers download coupons from a company’s website, straight from an email or by, social media.
Mobile coupons: Ecommerce platforms that have combined mobile applications into their operations give mobile-only coupons to drive extra sales in this channel.
Coupon codes: This type of discount is faster than downloading a coupon and for the customer is easier to complete at the point of sale. These codes contain a combination of unique numbers and letters.
Automatic discounts: Discounts that are automatically are very popular because the consumer doesn’t have to do anything to get the discount. Automatically applied at the checkout.
Benefits of having a coupon marketing strategy
Accomplish your sales goals faster
Coupons can be used as a break even with products that don’t sell good and convince customers to get it. The use of coupons can achieve sales and marketing objectives
Grow your customer base
Even though coupons may impact the loyalty of your customers, it also increases the probability that customers will mention your brand to family and friends more frequently. Brands that reach out to thank loyal customers with coupons, get customers to be more emotionally involve and this helps to build positive relations.
Beat the competition
Coupon marketing it is a clever way to make your offers more attractive and well known in the competitive environment.
Track your success rate
By coupon codes it is easier to measure your return on investment (ROI). By monitoring the number of exchanged coupons the company can determine the success of your offer.
Potential downsides of coupon marketing strategy
Possible brand damage
Extreme and continuous discounting is possible to lead to brand damage with your company viewed as less desirable and cheap.
Increase in one-time buyers
If your coupons are placed in websites, paid advertisements etc., increases one – time buyers and decreases the brand loyalty among your customers
Less loyal customers
More likely to create traffic from price-driven shoppers and customers outside your target group, get to less repeat sales, bigger acquisition costs and burning of your promotional budget. Also, if you discount often customers may try to overcome you, stop buying at regular prices and wait until the products are on a discount.
This specific strategy has not yet touched its peak, even though it is on the rise and things do not seem to change any time soon. On the contrary, with the shoot up of online trading and huge possibilities the internet has allow industries to use coupons in digital form as a form of promotion, comes as an asset too good not to benefit from it.
Digital Coupon Marketing
Using the opportunity of digital coupons and make them work for your company’s benefit it is an advertising strategy. It helps you get to your potential customers and interest them in what you are offering.
Promoting your company by this way is has multiple benefits and they range from presenting the new product to a wider viewers to increasing your sales when trends slow down.
Coupon marketing is based to attract and retain customers, taking advantage of customers interest in saving money on purchases, with the use of coupons codes and discounts.
Coupons can be offer in various forms. They can be public codes (Black Friday), used and personalized from a specific target group, unique coupon codes (valentines1234) that are for a very precise clients. They can be used in both B2B and B2C marketing
Coupons can be a very multipurpose marketing tool used effectively throughout the customer journey.
What types of digital coupons are there?
Downloadable coupons: Are available to consumers from different locations. Customers download coupons from a company’s website, straight from an email or by, social media.
Mobile coupons: Ecommerce platforms that have combined mobile applications into their operations give mobile-only coupons to drive extra sales in this channel.
Coupon codes: This type of discount is faster than downloading a coupon and for the customer is easier to complete at the point of sale. These codes contain a combination of unique numbers and letters.
Automatic discounts: Discounts that are automatically are very popular because the consumer doesn’t have to do anything to get the discount. Automatically applied at the checkout.
Benefits of having a coupon marketing strategy
Accomplish your sales goals faster
Coupons can be used as a break even with products that don’t sell good and convince customers to get it. The use of coupons can achieve sales and marketing objectives
Grow your customer base
Even though coupons may impact the loyalty of your customers, it also increases the probability that customers will mention your brand to family and friends more frequently. Brands that reach out to thank loyal customers with coupons, get customers to be more emotionally involve and this helps to build positive relations.
Beat the competition
Coupon marketing it is a clever way to make your offers more attractive and well known in the competitive environment.
Track your success rate
By coupon codes it is easier to measure your return on investment (ROI). By monitoring the number of exchanged coupons the company can determine the success of your offer.
Potential downsides of coupon marketing strategy
Possible brand damage
Extreme and continuous discounting is possible to lead to brand damage with your company viewed as less desirable and cheap.
Increase in one-time buyers
If your coupons are placed in websites, paid advertisements etc., increases one – time buyers and decreases the brand loyalty among your customers
Less loyal customers
More likely to create traffic from price-driven shoppers and customers outside your target group, get to less repeat sales, bigger acquisition costs and burning of your promotional budget. Also, if you discount often customers may try to overcome you, stop buying at regular prices and wait until the products are on a discount.
This specific strategy has not yet touched its peak, even though it is on the rise and things do not seem to change any time soon. On the contrary, with the shoot up of online trading and huge possibilities the internet has allow industries to use coupons in digital form as a form of promotion, comes as an asset too good not to benefit from it.
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