Consumers pointedly look for and use coupons to save on their purchases, and businesses benefit from offering coupons from helping to build brand loyalty to encouraging repeat business from consumers. Coupons help marketers grow market share, increase sales volume, sell faster, cultivate loyal customers, and drown out competitor advertising. You can win back your customers that have been lured away by your competitors easily by the use of a well planned coupon use. ... Groupon keeps 50 percent of the revenues from each coupon deal. Confidence for First-time Buyers. Coupons help you establish relationship with customers and advertise your business. Groupon is a solid advertising platform, has a good reputation among consumers, and is easy for business owners to start using. As a small-business owner, you can ensure your customers get one by using one of the many available sales promotion tactics. Choosing the right time to offer discounts can make a big difference in the success of your promotional strategy. Now is a good time to offer discounts because of a number of reasons. GENERATE REPEAT BUSINESS Coupons can encourage consumers to make a repeat purchase. If you think that your business is not going to reach its sales goals, you can try to boost sales by offering discounts. Group buying can make good business sense, if you design the promotion just right for your company. This said, most small merchants struggle to apply discounts to their inventory, and voluntarily rolling out a coupon campaign can be both costly and take away from money to be made. Coupons for business can be used to stimulate customer interest in new or slow-selling products. Everybody, it seems, loves a good deal. If, however, most of your sales are generated based on events, discounts or other promotions, coupons may be good choice for your business. Offer a discount on their next purchase, and you will be at the top of their shopping list. While it is always a good idea to find ways to operate efficiently, if you feel forced to unnaturally lower your costs, you could easily cross a critical line where your perceived value takes yet another hit. Extreme coupon shopping typically involves combining store sales with manufacturer coupons to get items for free or very cheaply. If you have a new product or service, then discounts and coupons are essential to attracting new customers. Is Now a Good Time to Offer Discounts? The reality is that for most, it takes a good offer to get a person to come in for the first time, and then it takes both a good product and good service to keep the customer from leaving to a competitor.. pssst….big tip here for those of you who are restaurant owners …. In many cases, you can use not only store and manufacturer coupons, but “money-off” coupons as well (such as coupons that offer $5 off of a purchase of $20 or more). The truth is we live in a place where coupons and offers are a must for a small business. In order to help you devise a plan to use coupons and discount marketing for your business, let’s take a look about the science behind it all. Coupons can help revive old customers. Yet, while they may be surefire ways to attract attention and bolster sales, even the simplest sales promotions cost money and require a deft touch. In the short term, Groupon (and similar sites) can be a powerful and effective way to generate new leads for your business. Consider the following: 1.
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