Did you know that most business owners are not that familiar with the potential of coupon marketing? A lot of them think that coupon marketing is all about investing into printing and distribution of vouchers, which can admittedly be a pretty expensive endeavour. Some of these business owners haven’t moved beyond the idea of paying local newspapers to publish your vouchers.
The truth is, voucher marketing doesn’t have to involve breaking the bank. There are a lot of ways to use printed vouchers or coupon codes to increase sales and boost your business and it won’t cost you more than few pennies. Here is a list of ideas offered by Alex Papaconstantinou, CEO of digital voucher site Wikigains.com in the United Kingdom. Alex is a partner and venture capitalist on several other businesses where smart voucher marketing is already implemented successfully.
- Turn purchase receipts into marketing material
Any time your customer makes a purchase, give them a voucher to go with a receipt. As a matter of fact, you can even turn the receipt itself into a voucher. If you’ve been shopping at Tesco recently, you’ll know that all their paper receipts now include coupon codes.
- Redefine business card marketing
Business cards are often used in marketing and promotions. However, business cards can be utilized a lot more to reach their full potential. As you know, most business cards only include the name, website address and contact details. Why not add a call to action? For example, your business card would probably be more valuable if it included a discount offer – something like 50% off on first visit.
- Leverage on day-to-day business post
When it comes to paper vouchers, paying exorbitant sums of money for postage or distribution is rarely a good idea. Instead of that, simply include your vouchers in other mailings, such as invoices and newsletters.
- Join discussion groups
Joining a newsgroup that caters to your potential audience is a great way to get people to check out your website. The main thing to keep in mind is that you shouldn’t try to generate business; rather, try to focus on offering advice and useful information. Adding your URL and a random voucher code to your signature is fine, but any hard selling will probably only get you banned.
- Share offersduring public appearances
If you’re being interviewed on TV announcing your latest innovation, or speaking at a community event or writing an article that will get published somewhere, it may be appropriate to share an offer at the end. Your offer should be within context. It be should relevant toyour topic and relevant to your audience.
- Form joint venture partnerships with other businesses
Try to work together with neighbouring businesses by splitting advertising and promotion costs or creating coupon bundles. For example, say you’re running a restaurant and you have a movie theatre in your neighbourhood; how about offering your customers a deal that allows them to get a movie voucher after buying a meal on a Friday? As partners, you can also strengthen your newfound marketing alliance by sharing mailing lists and selling complimentary services.
Some of these tips might be more beneficial to you than others, but all of them are worth trying. If you do it right, your coupon strategy could result in another few hundred dollars on your bank account.