In this cyber era, competition amongst businesses raises and marketers have to always think of new ways to make their promotion more effective. Marketing tools are also not exempted to this approach. In a current series of survey, a research firm – Consumer – affirmed that 91% of customers who have redeemed a coupon intend to revisit that same brand. What is even more interesting is that 62% of consumers revealed that they would likely share localized deals with their friends and that 63% expressed that coupons do add more value to the shopping experience compared with mobile marketing.
As a marketing tool, giving out coupons to consumers is a win-win situation. This is actually for both the businesses and customers. Generally, discount codes are available to every potential costumer.
1. Get Attention – Coupon offers get costumers’ attention. Even though they might not have the brand in mind, this marketing approach will make them interested to check it out.
2. Advertise New Product – For coupon-using and price-sensitive shoppers, this will be enticing for them. If they like the new product, there is a likelihood that they will buy it in the future even though it is in full price.
3. Purchase Loyalty – Discount always generates goodwill, as well as store loyalty. By this, stores can keep customers.
4. Get Repeat Business – There are some promotions that require customers to utilize reward when they revisit the store. Thus, it is more likely that the consumers will be back. For example, Symantec, the internet security software manufacturer, although is an established company, keeps giving away discount coupons for its Norton software products. Indeed, norton promotional codes can be found almost anywhere online, in tech forums and blogs.
Using coupons has advantages, which are listed below:
• Add more/new customers for the business. Some customers wait for products to go on sale before they buy. With coupons you provide to put items on sale, they will be enticed to purchase them.
• Attract additional traffic. Coupons serve as a ploy to attract more and more customers. Symantec has expanded its clientele after the use of norton discount codes.
• Minimize costs for advertising. Coupons contain the company’s name, address and other important information like website. Thus, customers may visit the brand online as well.
• Create a database of customers. Businesses can acquire consumers’ basic information. In the future, they can provide offers for them.
• Expansion of marketing area. Businesses have the chance to increase the market area, as some consumers travel distances to redeem such valuable promo codes.
• Move older products. Old items can be re-introduced to the market.
• Reactivate previous/old customers. You can lure back old customers.
• Drive the sales of other related products. Some products have “add-ons” or accessories so the business will be more profitable.
• Costly and crucial. Some retailers hesitate to embrace this type of marketing program. They are afraid to lose revenues. However, some marketers reason out that discount prices can lead to drawing in consumers in a subconscious way. It is the retailer to determine whether or not it is better off reducing prices rather than to retain sales.
• Competitive position. Unless an item is a unique product, competition is very common in the market. Prices often are much lower to be able to compete.
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