Should You Offer Traditional Coupons for Your Customers In 2019?
In 1887, Coca-Cola became the first company to get customers hooked via coupons. Eight years later, Coca-Cola had its presence in every territory of the US. One hundred and thirty-three years later, today, it’s the biggest beverage brand in the world and still offers coupons. Not only for Coca-Cola, but couponing is a great marketing tool for every enterprise, irrespective of niche and size.
Coupons are so darling!
Whether you are a young startup or an established brand, customer retention and acquisition are the driving forces of your business. A well-thought-through coupon strategy will compel your prospects to try your product/service and can turn them into buying customers. While your rivals are offering products/services of equal quality, incentivizing customers through coupons will drive brand loyalty and help you with customer retention.
A perfect coupon campaign will drive a considerable amount of traffic to your business, spreading brand awareness. You may be running the campaign for a short period, but the brand image will pay dividends in the long run.
The Rising Digital Coupon Market
According to studies, 97% of shoppers look for coupons and deals while shopping. Undoubtedly, coupons are a way for brands to increase their market share. Despite the risk of lower margins, you will be missing out on a huge opportunity if you are not giving away coupons.
The current retail ecosystem is Internet-driven, where digital coupons are outperforming traditional print coupons in influencing the customer purchase decision. The size of the digital coupon market has doubled in the past five years. Unlike the traditional coupons, digital coupons reach more customers as you can leverage modern communication platforms including email, mobile, social media, and third-party coupon vendors.
Digital coupon marketing is data-driven, enabling you to measure the ROI. Using innovative technologies like Nucleus Vision, you can offer personalized coupons to in-store customers, boosting your sales conversion rate, basket size, and revenue. If you want to spread brand awareness, reach more new customers, and increase revenue by up-selling more valuable products while enhancing a loyal customer base, you should be looking at digital couponing in 2019 and years to come.
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