One of the many reasons customers buy products is to save money. Did you know that most customers will impulse buy products they were not planning to, just because they are on discount? That urge to save is what makes coupons effective in marketing. Customers with coupons are likely to spend about 20% more money than those without them. Here is why coupons are effective.
They Can Bring In New Customers
It is easier to retain existing customers than bringing in new ones. However, with coupons, you will manage to bring in new customers through your doors or website. But while some of them may be one-time customers, you will have managed to get a few regulars. One of the ways to attract new customers is when introducing a new product. Most people are willing to try new things but at an affordable price. From there on, you should find ways to retain the new customers.
You Can Pick Products To Have Discounts On
With coupons, you are in charge of which products you want to get discounts on. Are there certain products that customers do not normally buy, but you want to sell? Or maybe you can choose items with a higher profit margin so that at the end of the day, even with the coupon discount, you will still have made a profit. Either way, you are in control of what products to have deals on.
Reduce Advertising Expenses
Another reason coupons are effective is because they …Why Coupons Are an Effective Marketing Strategy READ MORE