Here are some facts about using discount coupons.

Things to know about coupons

• Market Demand - In a recent study conducted by top financial analysts, the introduction of discount coupons in re-marketing emails caused an increase in shopping from 18% to 46%. Many of your prospects and clients are on the lookout for discount coupons, this would greatly affect their marketing decisions. Some consumers purchase products they do not need because of a discount coupon. The chances are high that your competitors are using discount coupons to outpace you and other businesses, hence discount sales may be the resource you need to increase sales and revenue.

• Return on Investment - Coupons improve your brand's image because some of your clients see them as a solution to their limited purchasing power and believe you care about them. Discount coupons can be used to sell overstocked items or goods with an approaching expiration date. Be sure to discuss with your lawyer the ethical and legal considerations of selling goods close to their expiration date. Track redemption to analyze the success of your coupon offers. You can do this by recording the total number of coupons issued and the total number redeemed. Also, note the coupon with the highest redemption rate and study the reason for such success, as it would provide insight for future marketing campaigns. Learn more on tracking coupons. https://smallbusiness.chron.com/companies-track-coupons-were-redeemed-75938.html However, coupons may not be sustainable, and new clients may patronize you because of coupons and expect more, they might stop patronage if they don’t get more, this is an outright loss. But on the fair side, coupons have a high ROI and are closely linked to an increase in revenue. Learn how to properly discount your products. https://www.shopify.com/ng/enterprise/pricing-strategies-discount-strategies-and-tactics

• Paper or digital coupons? - Your decision should be based on factors such as what would appeal to your target audience, the cost of execution, and the estimated return on investment. Printed coupons can be used for a long-time and this can cause financial loss if the client claims the offer after prices of goods have soared. A solution to this is to direct your clients to your website and ensure that coupons are prominently displayed on the homepage of your website. You can also create a coupon page on your website and add to the tabs and a dedicated URL that can appear as www.paper.com/coupon-code . With the digital coupon, the expiration date of your coupon would be flexible, you can cancel them when you hit your market target. Digital coupons would have much publicity among the young and growing population, which would in turn increase the popularity of your brand among these demographics. However, this population is dominated by dependents, which implies that they have low-purchasing powers but with the potential of an increase in income and more patronage to your business.

Track the metrics and online behavior of clients who use coupons on your website. It can help you to plan future advertising campaigns, you may want to focus on geographic locations with the highest traffic. In summary, coupons are a great way to increase sales, but it is not without its risks. Communication is key, reach out to your customers using bulk SMS. Visit SmartSMSSolutions for more information. Create a free account now.