Today’s article comes from Laura Kranz, Acquisition Marketing Coordinator at Webs.
Today we’re going to take a look at digital coupons, and how your small business could factor them into your marketing plan.
A coupon is a promotional tool used to offer specific savings to help persuade the customer to buy your product or service. A digital coupon allows the customer to redeem it online through their PC, laptop, or mobile device. Before you test any coupons, make sure your online store is equipped with a coupon code box at checkout.
How can a digital coupon help your small business? A digital coupon allows your business to reach new audiences, both online and offline (in-store). With regard to online digital coupons, taking advantage of your Affiliate Marketing program is a great way to start. Your coupon publishers (like RetailMeNot, Savings.com, and Offers.com) have the ability to target customers outside your reach. Coupon publishers have a loyal customer base, in which their customers tend to check for coupons before making a purchase. By utilizing coupon publishers, you have an opportunity to acquire new customers, especially if your coupon shows up next to one of your competitors, who may not have an offer available. Sometimes, by offering a coupon or exclusive offer to one of your affiliates, merits premium placement on their site. This could include a banner on their homepage or outranking your competitor’s coupons.
Digital coupons can also drive business to your brick and mortar shop. With the help of today’s mobile technology, customers can access coupons straight from their mobile device. Some great mobile apps to check out are Foursquare, Yelp Check-in Offers, and Yowza. These apps allow users to get push notifications of any deals in their geographic location or, once the user checks in to a business they can unlock great offers and promotions. Keep in mind that offering a coupon through a mobile app will have the same business model as affiliate marketing. You will need to pay a commission for any offer that is redeemed through a user’s mobile device.
As a best practice, coupons should have limited timed offers and expiration dates. If you offer coupons too frequently, customers become accustomed to knowing there is always a coupon available. By offering coupons sporadically, it gives you time to think and plan ahead for your next big sale. Be careful not to wait too long between coupons as this could drive your customers to your competition. Try aligning coupons to special holidays and occasions. You’re bound to have at least one major day pop up within a months’ time.
Not sure where to start with digital coupon distribution? Try adding one to the customer order confirmation email. This is also a great way to reward customer loyalty. Once you are comfortable with sharing coupons to existing customers, you can move onward and upward in other channels like Affiliate Marketing, Search Engine Marketing (SEM), Social Media Marketing, and Email Marketing. Each channel will offer a unique distribution to attract and retain customers.
Digital coupons are a great way to attract new customers and thank your existing customers. Will you give them a try this year?