Business Promotion Strategy Using Discount Coupons
According to the 2019 Coupon Intelligence Report done by Valassis, 92% of consumers have used coupons in 2019 where 38% of consumers prefer getting coupons and discounts on their mobile devices. In 2019, Around 31 billion discount coupons were redeemed worldwide. 68% of customers believe that digital coupons generate loyalty towards the company. With so many consumers usual to profiting from coupons, discounts, and other promotions, it is important to achieve a strong promotional strategy by offering discount coupons and introducing a loyalty program, or creating promotional couponing marketing strategies that can benefit the business. Your strategy should focus on gaining and retaining loyal customers that would be more beneficial for the company in good and bad times.
Why should businesses offer Discount Coupons?
Apart from consumers’ love for coupon offers and discounts, here are a few reasons why online stores should offer it.
- Boost Sales
It is the best trick to rise up in the sale process. While discounts may seem a bargain in the profit, they boost your sales instantly. Businesses offering discounts or running promotions at regular intervals keeps customers secured with your brand. Moreover, discounts reduce the possibility of cart abandonment because with discounts customers buy the product they want.
2. Attract new customers
Discount helps to grab the attention of the customers. So, this is the new way to attract new customers. With a promotional offer, you can tailor your regular and paid content to convey the message. Maybe it is related to a new product or any service or an upsell opportunity by offering a free gift. Promotional offers allow your business to create engaging marketing content that speaks to your brand — while adding in a layer of excitement and urgency with the discount offer, you’re providing to customers.
3. Gain repeat customers
Most of the time it can be difficult to find repeat customers. Businesses offer a great way to draw into one-time converters is to offer kits + bundles that support the product they already purchased. For example, let’s say a customer purchased a bed frame. Offer a discounted bundle for the mattress, sheets. Also, find ways to join with repeating customers on social media. This will help gather feedback and make it easy to communicate with the new products to them.
4. Increase Website Traffic
Discount offers help to increase the traffic of the website because discount coupons help to bring more visitors to your website that helps to increase the website traffic. But please ensure that they are not just exploring your website but also getting converted.
The game of deals and coupon discounts is necessary to survive in the rapidly growing eCommerce market. If you want to lead your customers, you will have to come up with some exciting deals and extra discount offers. Discounts and coupons are attracted to the customers and make the customers excited for shopping, make sure you are not compromising much on the profit margin especially if you are in new business. Consider every factor before you start running deals on your website.