The Importance of Coupons for Small Business

The Advertising Minute

The Importance of Coupons for Small Business

Coupons are an important marketing piece for any business owner, and they are more important than ever in today’s economy. In 2010 and 2011, for the first time in 17 years consumers used more coupons than they did the year before.¹ Also 95% of all shoppers like coupons and 60% actively look for them.²

ü  Why are they important to your business?

ü  How do they actually grow your business?

ü  Do coupons really work?

Let’s take a look

Coupons:

ü  can re-attract former customers.

ü  help drive foot traffic and bring in new customers to try your product or service.

ü  help grow your marketable area – consumers will travel for a great deal.

ü  help fill seasonal, periodical and ongoing gaps in sales.

ü  help you sell additional items – consumers will usually buy more than just the promoted item.

ü  allow for directly measuring ROI on your campaign.

Make sure that your coupons are attracting increased business. Here are five key elements to consider when creating your offer

Make the offer compelling – “$10 off a $50 item” is more compelling than “Take 20% off” unless you are using a high percentage, dollars off are king!

Scarcity and Uniqueness – people like to feel important and that they are getting something not many others are. Make your offer unique “… for the first 50 people” or “… for our Twitter followers only.”

Additional bonus – “Buy one, Get one free” or “Free sample kit with the purchase of 3 bottles of shampoo.” Everybody loves a deal and promoting a bonus is an attention grabber.

Free Trial or No Risk – Make it easy for somebody new to try out your offering – remove the risk to attract a new customer.

Product Branding – Include your logo and a photo of your product or service. Include other applicable information like your phone number, address or URL.

¹Inmar, a leading promotion transaction settlement provider

²Independent marketing research firm, A.C. Nielson Co.,

With Rely Local, you give your offers the additional benefit of ease of access by making them available on the internet!

Thanks

Curtis Schoppers…    Sr. Account Executive

(507)261–3697   www.relylocal.com/rochester-minnesota        

Doing business without advertising is like winking at a girl in the dark,

you know what you are doing but no one else does!