Effective Coupon Management Maximize Your Brand Visibility

Effective Coupon Management Maximize Your Brand Visibility

Customers and shoppers have momentously transformed into online customers and shoppers. They are smart enough to shop online and save their time and effort. The online shopping is further made more attractive with the use of coupons, deals, discounts, and offers. All the stores offer their discount coupons to clear the shelf fast and attract more customers during festivals and occasions. A number of stores offer their coupons throughout the year to get noticed by the customers and enjoy a year-round business.

With so much discounts and offers, I feel, a time will come when the stores will have to reconsider their decision of offering the coupons and the value of discounts to be offered. While discount coupons are a great tool in your brand popularity, using it haphazardly can affect your name and even bring your profitability in danger.

There is a way to everything and an effective coupon management is needed to maximize your brand visibility and add value to your business.

Choose right customers for your coupons

Ultimately, it is the goodwill among customers and profit that matters for you. You may not always be sitting on products with high margins. If the margin is less and you offer daily and weekly discounts, it may create dent in your business model. In cases of low margins, identify your customers and offer loyalty based discounts. This will position your brand higher.

If the margins are healthy,daily deals and offers can fetch good results. Whatever measure you adopt, set a goal for every campaign. Your coupon strategy should yield results.

Various Ways of couponing

There are different ways of offering coupons and discounts to the customers. Based on your business, goals, and margins, you can offer the appropriate discounts to your customers.

Percentage Based Discounts Coupons

It depends on how much you can bear to sell your products. The optimal discount starts with 5% to 10% which can go up to 50% when you are looking to clear your shelf of the old stocks. Sometimes offering discounted price that brings less or nominal profit for you but clears the stocks is good enough to create space for the new products.

Free Shipping Coupons

Many a times the final decision to make a purchase is abandoned at the time of placing order when separate shipping cost is charged. It is customer’s mentality to look for stores that ship the products for free. So, this can be a great tool in promoting your coupons which mostly works. However, to be on the healthy side,offer free shipping Coupons after a minimum purchase of the products.

Free Gifts Coupons

Make your customers feel special with free gifts coupons on certain products. This is the best way to gain customer’s loyalty. This can also increase your order size and can get you rid of some slow moving products.

Cash backs Offers

Keep your customers coming back to your store through attractive cash backs Coupons. This encourages customers to shop more and keep coming back on your site for other products as well. It is one of the perfect ways for customer retention.

We all know that customers like offers and discounts. But just jumping into a discount rally for your products without a strategic background is not suitable for the health of your business. So analyze your business model, customer behavior, and product type as well to get going with any of the above ways of promoting your products through offers and discount coupons.

Leave a Reply

Your email address will not be published. Required fields are marked *