Running a business is a challenging job. No matter which sector you operate in, there are several things involved with the whole process. Right from arranging the finance, to selecting suppliers, to delivering goods on time and many other things – it is an exhaustive process. So here, business owners need to be smart and come up with strategies that can make the flow smoother. Whether it is marketing, production distribution, or others; everything needs to fall in place.
The right kind of marketing strategies that you adopt drives your business and eventually, success. With the advent of social media platforms, microblogging sites, and an advanced OOH or Out-of-home advertising campaigns, reaching out to your prospective consumers is not a very difficult task these but a bit competitive.
In this write-up, let us find out how you can use coupon codes and promo codes to generate leads and eventually better the conversion rates. So, read on for better insight. The article will deal with the following sub-topics, namely –
- Essential aspects and prevailing coupon codes trends in the market
- Tips for strategically using coupon codes for promoting your business
Let us take one sub-topic at a time in the paragraphs that follow.
- Essential Aspects And Prevailing Coupon Codes Trends In The Market
Advertising Age, known as “Bible of the Advertising Industry,” reveals approximately 87% of consumers use these codes. Marketing and research firm (A.C Nielsen Co.) has reported that more than 90% of shoppers prefer using promotional codes; and more than 55% search for them either in offline or online media.
Experts believe that in areas where the economy is not in a very good shape or has slid back for a while, the customers look for coupons, freebies, and discounts more pronouncedly.
Causes Of An Increase In The Use Of Coupon Codes And Effect On Business
Few of the reasons that you can hold responsible for the rise in these marketing techniques are as follows. Marketers that have been able to incorporate these tricks are succeeding.
- Travel to get better deals- When you offer a coupon of a considerable amount, it appears valuable to a consumer. They are even willing to travel a little extra to avail it. It increases your outreach to your prospective customers, which results in better reach and also covers far away locations.
- Overtake your competitors- If you can offer a better deal, those that have been shopping from your competitors will start buying from you. A better deal will always attract customers.
- Trial and experimental shopping can get you better deals- Do you have a food joint? Is your competitor offering good deals on some days? You can do better by offering your customers deals on any other day. For instance, Dave and Busters coupons offer impressive deals these days, which you can check out to save some hard-earned cash.
- Additional income for businesses- Generally, shoppers that come to the store or avail coupons online also shop for additional stuff while browsing and navigating through the products and services pages. So, if any customer likes and purchases other products; it is extra income for your business. That purchase will perhaps be more than what you are offering through your coupon code.
- Tips For Strategically Using Coupon Codes For Promoting Your Business
Given below are few tips that you can follow. It will help you in getting better ROI or Return on Investment from your business through promo and coupon codes as marketing tools.
- Use social media platforms- These platforms are “powerful” when it comes to increasing and improving your visibility. All you need to do is approach the right target audience. It is not just “word of mouth” that works these days. When you are offline, any online visitor can act as a referral too if he likes your products and services.
- Make your coupon code listings visible on websites- when you list your coupon offers on your website, consumers will browse through several directories and also get to see them through search engine search results (SERPs). It is true not just for advertising the coupon codes on your website alone. You will also come across many such websites that display coupon codes from various merchants and vendors in a consolidated and well-compiled format.
- Hold events for better coupon visibility- From time to time, you can arrange activities and offline campaigns. There you can display the deals that you are offering through your business coupon codes.
Aside from holding events, you can hold workshops, meetings, business meet-ups on occasion. Here you can display the deals and plans that your business provides for prospective leads and consumers.
Cross-promotion is another way to offer better deals to your clients. You can always find out from competitors the kind of deals and offers they work out for their consumers. Once you come to know, you can work out a better deal to attract customers.
- Print media- This is one of the better ways to let your clients know what you are up to or what better things you have to offer to them. The best way is to print flyers or brochures. Also, OOH or Out-of-home advertising has become a trend. Mobile advertisements are very much in vogue. You can also display via hoardings the coupon codes or promo codes that you are offering or will provide the next month. For this, you can use taglines like “Watch this space for more coupon codes to help you save cash.” These messages have a considerable impact on prospective consumers and even those who already shop from your brand.
Last but not least, confidence plays a vital role in what you market. It is not just confidence in working out marketing strategies, but you have to be convinced about your products and most importantly, their quality.
Unless you are convinced and confident about your products, others may not agree with what you advertise, whether in print or on the web.