Coupons have proven themselves to be highly effective sales tools for every size and type of business. They entice potential buyers who might be shopping at your competitors, attract new residents of an area and can also bring back lost customers. Whether distributed in direct mail, at the register or online, coupons give the customer another reason to visit your store. Read on to find out how offering discounts in the form of coupons can increase your profits.
Bring in traffic. The most immediate power of a coupon is its ability to prompt action. Because people prefer saving money, coupons serve as a ploy to attract more customers to your store. It’s a proven fact that consumers will break routine shopping patterns to take advantage of a good coupon offer.
Encourage brand loyalty. Coupons are a great way to reward customers and instill brand loyalty. If customers are constantly receiving good deals from the stores they shop in, they have no reason to purchase from the competition.
Sell products faster. For businesses looking to move specific inventory quickly, a high value coupon will do the trick. Whether the coupon is good for dollars off or a buy one get one free deal, if the value is large enough, consumers will respond.
Increase purchase volume. Coupon redeemers are more likely to spend more on each store visit over those that do not have a coupon. When a customer knows in advance they are saving money due to a coupon, they tend to think they then can afford to purchase more that same visit.
Tracking. A great benefit of distributing coupons out online is that you have the ability to track and measure your advertising ROI. Each coupon’s unique bar code helps retailers track purchase trends.
Coupons offer businesses and consumers the opportunity to benefit each other mutually. It’s time to overcome your doubts and jump on board the coupon craze. Your business and your customers will thank you for it!