Coupon Usage for Retailers How To Do More And Be More Than A Crowd
DIGITAL ART - FASHION - LIFESTYLE
Published On: April 21, 2015
What started with simple discounts on breakfast has now become a common trend for shopping for anything at all. In a challenging economy, coupons are a benefit that most consumers are opting. Either for saving temporarily on their needs or becoming a coupon warrior, the users have started to acknowledge
coupons.
The consumer’s passion of
saving on favorite brands make every business prone to sustaining these capabilities and thus paper/magazine coupons of the past are now transforming into easily available online, the internet and mobile coupons.
Industry Overview:
Nch’s Coupon Facts Review(CPG Coupons: US Market Analysis, 2015)conducted in 2014, mentioned redemption of coupons overall has been stabilized in the past two years due to innovative efforts of marketers to offer maximum benefit. The report also featured in its fact the shift of marketing trends to non-grocery coupons which have relatively larger redemption cycle thus caused a decline.
Rise of Non-grocery Coupon:
Yet, the industries are combatting with the situation by using a unique combination of metrics, offer durations and mediums to focus on their target. Among these efforts spread of mobile and
online coupons, has significantly emerged. Frequent offers on fashion supplies, clothing, gadgets, and gifts have created a strive for luxury coupons among young to middle age consumer sectors
With so much concentration laid on digital marketing, the rise of the coupon usage and distribution is obvious. Can a business become fast enough in this race? Besides Ecommerce competitors need to polish their coupon tactics, making these discoverable is a bigger challenge.
Modern understanding of coupons, online coupon marketing opportunities and monitoring the performance is explained below. From reaching their audience to creating anticipation about the next offer, the coupons will work fine if an online business owner starts stays and move forward in the right directions.
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Types of Online Coupon:
Knowing options is important when an online business decides to jump into the coupon industry.
The types of coupons are expanding every day. Through online sources, businesses may
offer promo codes in their listings or have personalized banners, blog, and social media campaigns. Printable coupons are sort of the oldest form that is yet being offered online to consumers. Personalized coupons that are offered on special occasions or as a reward of survey or competition are the newest ones that are being appreciated in consumer segments.
Working with Coupon Websites:
With most stores transitioning into online interfaces for expansion in sales, publishing of coupons is possible independently. However, most of the businesses have realized a major difference in traffic when they mix their marketing efforts with coupon websites.
Before going on board it is significant to strengthen an online setup on the stocks, operational and policy sides. After this, a number of coupon providers are easily accessible who have individually emerged as a brand. Retailmenot.com who is one of the pioneer online coupon providers features large, medium and small consumer brands. By creating an account on this interface, a business may publish its coupons and operate continuous activities.
The enhanced facility of coupon websites is that they are now location and niche specific too. For e.g. Location.com targets, local businesses and online coupons of favorite consumer stores may be easily filtered on the website. As for niche, an example is ClothingRic.com which focuses on distributing coupons of the clothing brands from within the US and a few global stores.
Independent and Collaborative distribution efforts of Brands and Coupon Websites
Search savvy people will understand that being a part of the coupon will no more offer quick or either stable results. Making the most of it will become possible once a business will make their target audience aware of the fact that coupon offers of the brand are frequently live online.
For marketing dummies, a number of billboards on the side of the road flashing are intended to eventually make everyone memorize their offer, message or brand name. E-commerce sellers will have to do the same on the internet. A guide is right here!
Make Old relations firm:
The customers are every business best branding ambassador. A business should email, text, and reach them in any way with the announcement of its exclusive offer being online. The most relevant way to market it is sending clients a brief email, about a new coupon campaign that the business intends to launch.
Coupon Website partners may also send a notification to their regular audience about a brand’s coupon who is a new entry on their website.
Adding coupons in more relevant listings:
On the interface of different unique coupon websites, a business may publish their coupons more. This way the regular audience of another website may be driven towards an E-commerce website more and more. Apps are the most recent ones that smartphone owners are frequently signing up for. Making sure the presence in all social and local domains is a key to making coupon campaign successful.
Activities on Social Media:
To publish coupons, to collect consumer surveys and to observe consumer trends, Social Media is now a priority medium among consumers and businesses. Building consumer interest and hype about coupons is a great way to make the followers of brand anticipate and think about redeeming the offers in time.
Building or being part of the Coupon app:
Publishing brand’s mobile coupon on the social media page is relevant and may be fruitful action. If we follow mobile coupon trends of alone US which in the past five years it has gone up from 7.4million in 2010 to 74.1million in 2015. (
Statista, 2015)
One of future trend report of Statista also reveals a potential increase in mobile coupon app users by 2018. The ratio which is now 33.3% will slightly increase and stabilize by 2018.(
Statista, 2015)
Instead of going in all dimensions of Social Media, it is better to work on most popular mediums like Facebook, Twitter, and Google+. Though competition on these is huge, yet the popularity and traffic is just irresistible.
Paid Ads, Unique Campaigns:
In case an E-commerce store has earned reasonable popularity, it might be appropriate to invest in paid campaigns for banners on other websites and search engines. Search engine focuses on the local traffic and provides huge support for attracting sudden campaign attention.
The customer engagement and conversion on coupon campaign may be made ensure by
offering high-value discount codes. These campaigns best work when the coupons and a social cause are combined.
Offer Coupons to a specific group:
Existing in a competitive market requires the contenders to appear with something solid every time. Besides a brand may portray a caring image for the general consumer by offering discounts, additional will always make the markets, more welcoming.
Working with affiliate and marketing managers to discover a disable or weak segment of society that the store products may serve or contribute increases the corporate significance of the brand. Offer coupons to the specific group take the consumer attachment with the brand to the next level. Take inspiration from multinational P&Gwho is currently in news for its coupons that give back to Children’s Safe Drinking Water Program in a campaign called P&G Give Health.(News.pg.com, 2015)
Share and Engage:
Besides sharing small bits of saving news, it is also important for brands and coupon websites to do more. An inclusion of blog on E-commerce and coupon distributor’s page is always good which may include detailed informative, funny and caring tips for saving. Consumers who are online readers, watchers and researchers are instantly attracted towards a brand’s blog.
Despite of mix thoughts about publishing coupons online or offline now, there will be eventually a time when Ecommerce Marketers will realize that the coupons are an established marketing tool. The consumer’s desire for the saving will make it obvious for the business owners to follow on a fast pace and catch up on so much that is adding in the value of Coupon Industry.
Work Cited:
CPG Coupons: US Market Analysis. (2015). 1st ed. [ebook] NCH Marketing Services- A Valassis Company, pp.2,11,14. Available at: https://www2.nchmarketing.com/ResourceCenter/assets/0/22/459/535/e89b0fb5dcf14d6ca28ad5f99b3a60f4.pdf [Accessed 20 May 2015].
Statista, (2015). Adult smartphone mobile coupon users in the U.S. 2010-2015 | Statistic. [online] Available at: http://www.statista.com/statistics/246863/amount-of-adult-smartphone-mobile-coupon-users-in-the-us/ [Accessed 21 May 2015].
Statista, (2015). U.S. mobile app buyer reaches 2018 | Statistic. [online] Available at: http://www.statista.com/statistics/383979/us-mobile-app-buyer-reach/ [Accessed 20 May 2015].
P&G GIVE HEALTH Program Enables Consumers to Help Provide Clean Drinking Water in Developing Countries | P&G News | Events, Multimedia, Public Relations. [online] Available at: http://news.pg.com/press-release/pg-corporate-announcements/pg-give-health-program-enables-consumers-help-provide-clean [Accessed 20 May 2015].
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