Coupons are everywhere. Is your business using them effectively to pull in customers and build repeat business?
Include Coupons with Your Product
Papa Murphy’s pizza always includes a coupon with their product for a couple of dollars off the next order. They don’t have to pay for mailings or fliers. They piggy back their coupon on the product they know you’ll love and thus target their most easy prospects for a repeat purchase.
Are you promoting your business in the moment your customers are most satisfied with your product?
Sense of Urgency
Last year we had a team event at a bowling alley here in Austin. At the end of the day, our host gave us several gift cards for free games. Each of these gift cards expired in 30 days.
The deadline immediately makes people think not of if they will use the coupon, but when they will use it. Instead of just “the next time we go” the customer starts to think, “I’ll go next Friday.”
Leverage the Return Trip
Customers may return to your store for numerous reasons. After Christmas is a busy shopping time as people head back to stores to return merchandise they didn’t really want. Fresh with a store credit or cash in hand, they are primed to spend that money with you.
Every time I go to Border’s bookstore, my receipt has some kind of coupon attached. When I get that receipt I immediately think of which book I need or want to buy next.
Customers Will Spend More
Coupons encourage customers to spend money. Period. Even if the discount or gift card is for a significant portion of the product’s price, customers will likely pick up other items or spend more money with you during the same visit.
Coupons and Loyalty
Coupons aren’t just for attracting new customers. Like these examples show, coupons can encourage repeat business from your current customer base. Help instill the habit of shopping with you and that customer will become a long-term customer.