Using Coupons for Small Businesses
How distributing coupons can help small businesses grow
There are some companies that refuse to discount their merchandise. These companies have times of great profit, and then drop off the face of the earth. Too many companies try to be high-end, boutiques, and follow suit with the notion that they are not a “bargain basement”.
While this can have a place in business, most companies cannot run without dropping prices from time to time. Even the biggest players in the world of finance, drop their rates from time to time. If you want to grow a business, even when the economic times are not so hot, you’ll want to look into creating relationships that thrive with coupons.
More Than A Discount
Any retail or wholesale shop can put up banners that welcome people to save a percentage on a sale. However, if you want to keep people coming back, you will want to have an incentive for them to do so.
One way to do this is to make sure that you offer opportunities to save over time, on the next purchase. For instance, you could charge full price for one visit, and then on the return, a massive discount can be given with the coupon that you have issued. As long as there’s a date of expiration on any offer like this, you could definitely sustain serious relationships with customers over time.
Creating A Fan Base
Some companies are not getting the kind of traffic that they would like. That is especially true for those that are just starting out or aren’t a part of a larger name brand.
If you are not hitting the ground running, don’t worry. You will want to look at creating your own niche and fan base. This can be done through the start of an email list.
Offering a discount to mailing list participants is one way to market to a larger audience over time. Getting signed up should be free and easy, and even offering an initial percentage off a transaction could help this growth.
For instance, if you were to offer 10% off a purchase with the sign up of a new email address, the list could grow to become very large. Within 1 email sent to a list of 10,000 people, you could get a return on investment that will pay dividends.
Not Just A Sale
Sales are always going to proliferate in the world of retail and even eCommerce solutions. However, getting people to pay full price is a tough thing to do. If you are stagnant, and you are not sure how to gain a little bit of advertising consideration, offer limited time coupons.
These should be only good within a certain span of time. Make absolutely sure that you are working within a limited time offering and deeply discounted prices for 1 or 2 items. When you offer this exclusive solution to certain clients, you will start to get word of mouth, and that is a valuable source for any company to thrive today.
For those that aren’t sure, there’s nothing like testing this method out. Try printing up some coupons or even better, use an online coupon maker and see how great your business can become.