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Boost Sales With Your Next Coupon Campaign

Some small businesses are still afraid of using coupons because they fear a coupon campaign will cost too much. The truth is that coupons are an easy way to boost sales if used correctly.

First, here are six reasons you should consider offering coupons:
Boost Sales with your next Coupon Campaign

  • To attract new customers
  • To increase sales of a specific product
  • Brand awareness
  • To retain your current and faithful customers
  • To up-sell a specific product
  • Coupons bring customers to your business, where they will probably buy additional products

Another main reason to include coupons in your marketing campaign is that your competitors are already using them. Many coupon users do not have brand loyalty. If another brand of the same product is offering a better coupon, they will buy that brand and you have just lost that sale.

Pay attention to what your competitors are offering. You never want to offer a coupon that does not make financial sense for your business. If you cannot offer the same or more as your competitors, then you may to want to scratch that coupon altogether and offer a coupon on a different product or service.

In order for your coupons to boost sales, you want a well-thought out and financially sensible coupon. To create such a coupon, keep these things in mind:

Make sure it really is a good offer.

Ten cents off an item that costs fifty dollars is not going to impress anyone. For bigger ticket items, consider using a percentage off. Many customers will not figure out how much the item will cost them. They will simply boast to their friends that they purchased the item for “xx% percent off”.
Boost sales with your next coupon campaign

Don’t break the bank.

Don’t offer anything that costs you. Figure in how much it costs you to purchase and sell the product/service, and adjust your coupons accordingly. If the product costs $5 and you sell it for $8, offer a $1 off coupon. You will still make a profit of $2 per item, but your customers will feel like they are getting a great deal.

Remember that brand awareness is key.

Create a visually appealing coupon that encourages brand awareness. That way, even if the recipient does not use the coupon, they may still remember your brand name later on. Brand awareness is one of the biggest aspects of a coupon campaign, so make sure you are aware of this when setting up and running your campaign. Printed coupons have long been the norm, but with new technology, it’s best to incorporate coupons on your website as well as accepting coupons shown on mobile phones. If you do not already have a website, please visit PowerSites to get your website started.

Offer more of a discount for a bigger purchase.

Consumers love feeling like they are getting a great deal. So consider coupons that offer $10 off a $50 purchase or $25 off a purchase of $75. It may be just the push they need to add those extra products they wanted anyway to their cart. Also, if they have to spend a certain amount, they may buy something they weren’t planning on. This is the first step in getting them hooked on a new product.

Follow these simple tips and tricks to boost your next coupon campaign and watch your sales increase.

Increase Repeat Customers in 3 Simple Steps

In any economy–especially a tough economy, there are plenty of ways to increase business. One of the easiest and most effective ways is to increase the number of repeat customers and sales.

Why is it so easy? Because all it takes to start is 3 simple steps, and you can build a loyal customer base that steadily grows and grows, with increased repeat customers and sales.

Here’s how to pull this off:

  1. Identify Who Your Current Repeat Customers Are
  2. Get More Repeat Customers
    Go through your past sales and transaction data. Find out which customers have given you, or currently giving you, the most repeat sales. Look for patterns in their profile. Do most repeat customers come from a specific zip code? Did most of them order one your products/services early on? Did most of them come from a specific referral? What do they have in common? This is your key customer profile.

  3. Find Out Exactly Why Your Key Customer Profile Buys From You
  4. Contact 15 to 20 customers in your key customer profile above. Get them to tell you why exactly they buy from you. Find out what motivates them to go to you instead of your competitors. Do whatever it takes to get them to answer honestly, and the more specific, the better. The most common response they give you will be the key benefit your business offers to them.  Don’t forget to ask how they found you (if you don’t already know). That’s an extremely important bit of information that will help guide your future advertising and marketing initiatives.

  5. Make A Strong Offer Geared Toward Your Key Customers
  6. With the key customer profile, the key benefit that drew them, and knowing how most of them found you, you can now make them an offer they can’t refuse. This offer should include the key benefit that drew them. It should be addressed to their general profile. Use this offer in marketing or sales campaigns that target new prospects that fit your key customer profile. This is where that previous bit of information comes in handy–invest in campaigns where most of your key customers heard about you or came from.

Here’s an example. Suppose you run an auto shop, and you found out most of your best repeat customers come to you for fixing flat tires. Your past sales data shows that most of them live in the next city over, and drive toyotas. You contact 15-20 of these customers and find out most of them are older males, and the reason they come back to you over and over is for the fast, friendly service. Most of them found you through your PennySaver ad.

Your next, and best step is to place an ad in the PennySaver. Advertise “fix flat tires in under 30 minutes or your service is free!”, include a 10% or more discount, place it in the PennySaver for the next city over and try to specifically draw attention from Toyota owners (if possible). See if these ads attract more key customers and increase repeat sales. Keep tracking and monitoring the results.

Doesn’t sound too hard right? It’s not, yet few businesses do it. You can take advantage of their inertia, and your customers and your pocketbook will love you for it!

When you find something that works, do more of it.

What are your tips for creating customer loyalty and repeat sales?