Top Ways to Use Coupons to Drive More Revenue

Top Ways to Use Coupons to Drive More Revenues

Top Ways to Use Coupons to Drive More RevenuesCoupons have been around since the golden age of print advertising. People sat at their breakfast table reading the newspaper, then cut out the coupons they were interested in to use later in the day. We could write volumes about the history of coupons in sales and marketing, but it suffices to note that they are still effective.

The new coupon is not printed on paper, in most cases. And even if it is, people can scan it with their mobile phone. The age of digital coupons has created a new advantage for businesses: they no longer have to pay for their coupons to be printed and displayed in the press. Also, the World Wide Web has a wider reach than any newspaper and magazine.

These being said, you have no reasons to overlook coupons as a potential source of revenues for your business. For one, coupons give you the greatest accuracy in measuring the success of your campaigns. Whenever you get a sale from a coupon, you can trace it precisely to this sales tool.

Here are the most effective ways to use coupons and get a boost in sales:

  1. Opt for Coupons for Significant Discounts

Coupon campaigns are most effective when you want to give major discounts. We are talking Black Friday type of discounts – at least 35-40% off the standard price. Coupons are perceived by people as special discounts, this perception deriving from their own childhood when their parents were keen to spot the best coupon offers in the papers.

Creating coupons for 10% discounts will only devalue this sales tool and make it ineffective in the long run.

  1. Offer the Dollar Value Discount Instead of the Percentage

There is another way to strengthen the value of your special coupon offer: instead of specifying the percentage off the price, show people how much money they save. Looking at the number of AUD they will keep in their pocket if they buy using the coupon makes people truly appreciate the value of the discount offered. It is not an abstract thing anymore, but actual money which they can use for other purchases.

  1. Create Coupon Campaigns for Special Occasions

Holidays are probably the best occasion for creating a coupon campaign. Everyone is shopping for gifts, and trying to find the best offers possible in order to save piggy bank from being smashed.

A coupon campaign is very easy to set up, conduct, and measure and it will give you a major boost in revenues. “But what about my margins? They go down, because I’m cutting my prices.” This is not necessarily true. The benefits offered by a coupon can be other than large discounts. Free shipping and gift packaging, buy 2 get 1 for free and other such incentives work really well for holiday coupon deals.

  1. Take Advantage of Mobile Coupon Codes

Your digital coupon campaign can work as a blend of online and offline promotion, by adding a scannable QR code for your coupon on your usual print advertising and marketing materials. In this way, a person who sees your billboard on the street or reads about your campaign in your store displays can simply point their mobile camera at the code and proceed to redeeming the coupon on your website.

  1. Share Your Coupon on Coupons.com

Exposure is the key to success, the more so when you post your coupons where people are most likely to look for it. Coupons.com is a website which contains only…coupons, of course. People who are always hunting for great offers browse it daily (sometimes several times each day) to spot the biggest discounts and top benefits.

Even though this is a crowded place, it is worthwhile sharing your coupons here. It is the best way to make your offers known to prospects outside your regular circle of followers and leads.