Coupon Advertising & Ways to Make It Work for You

With the number of online coupon websites increasing, it is easy to see how coupons can be profitable. Yet many people have found that their advertising dollars are not always rewarded. This article will go over some ways you might make your money back.

Coupon marketing strategy is a term that has been used in the industry for decades. There are different ways to execute this strategy, and it can be very effective if used correctly. Read more in detail here: coupon marketing strategy.

Coupon advertising, as old as it may seem, is nonetheless quite successful. Coupons provide a major marketing opportunity for organizations, which is why nearly half of all firms employ coupon promotion. And you’re losing out if you’re not adopting this (very current) marketing strategy. In fact, you might be losing out on up to 46% more sales at checkout, brand loyalty, greater email open rates, and even more social media followers if you don’t use it.

That’s right—more than 70% of customers will follow a brand in order to obtain coupons.

So, whether you’re aiming to attract new consumers, harness the power of social media, reduce abandoned cart rates, improve email marketing campaign success, or just boost total sales, coupon advertising might be the key to attaining any (or all) of these marketing objectives.

Is Coupon Marketing Appropriate for Your Small Business?

Coupon advertising is more than simply a method to entice price-conscious bargain seekers. In fact, unless you’re just wanting to sell a lot of merchandise, you probably don’t want to employ coupon promotion for the express aim of getting one-time sales. For the most part, the goal is to utilize coupons to promote brand awareness or to function as reminder advertising to encourage former consumers to buy again. In summary, discounts might be a minor price to pay for establishing long-term relationships with loyal clients.

The following are some of the most typical reasons for firms to employ coupon advertising:

• To increase brand awareness
• To increase the number of purchases made on the spur of the moment
• To remain at the forefront of people’s minds (reminder advertising)
• to engender loyalty
• A review like this may be used to motivate others to take action.

You can, of course, utilize discount advertisements for a variety of different things. Using an exit-intent pop-up voucher, for example, may reduce abandoned carts and boost conversions by 5 to 10% on average. Alternatively, a company wanting to boost email campaign open rates might utilize discounts to entice recipients to open the email. That’s right—coupon-enabled email campaigns have a 14 percent higher open rate and a 48 percent higher revenue per email sent.

Costs of Coupon Advertising

Coupon advertising may range from zero money to thousands of dollars. Factors like coupon design and delivery expenses will determine how much it will cost your company. In addition to these costs, you must factor in the cost of the offer, as well as the potential income from attracting new consumers or building brand loyalty among existing customers.

The following are the three major expenses associated with coupon advertising:

• Costs of coupon design range from Coupon design costs: From $0 to $350 and higher to $350 and above.
• Costs of distribution range from nothing to hundreds of dollars.
• The cost of marketing varies depending on the kind of company (sales, profit margin, customer lifetime value)

Consider if your company can afford to give discounts, both financially and in terms of customer behavior. In other words, if you use coupons to attract new clients, will they stay with you when the sale is over, or will they go on to the next lowest-priced option? Or are you training your consumers to value your goods or services at a lesser price so that when you raise it to the usual price, they believe it’s too expensive?

Distribution of Coupon Advertising

The sort of company you operate, your target demographic, and your advertising goal will all influence how you distribute your coupon. You have a few alternatives for distributing your coupon, depending on whether you want to connect with current customers or reach out to new ones, and whether you’re an online or brick-and-mortar company.

• Your web address is: On ecommerce websites, coupons are often used as a pop-up box. The rationale for this is because it aids in the conversion of browsers into purchasers by providing a compelling motive for site users to make a purchase right away in order to take advantage of the limited-time deal. Businesses have had a lot of success with this tactic, with some reporting a 2X sales conversion rate when they use exit-intent pop-up discounts on their website.
• Consider employing a coupon network like Groupon or LivingSocial if you want to increase brand awareness. People go to these sites—Groupon alone has over 34 million active users—to discover bargains from companies and brands they’ve never heard of. Furthermore, small businesses, such as a restaurant or a hair salon, may take use of discounts available online to attract new clients.
• Email campaigns: If your company already has a contact list and wants to leverage a coupon to create sales from current consumers, email marketing might be a suitable alternative. In fact, according to a research, 75% of shoppers look for discounts in their email inbox. If you choose this path, make your life easier by automating and tracking results using one of the top email marketing tools.
• Social media: Do you have a sizable social media following? Share your discount with friends and followers using your Facebook Business Page, Facebook Groups, Twitter, Instagram, or any other social media channel you use. When sending coupons through social media, bear in mind that it’s a terrific opportunity to promote exclusive promotional deals that aren’t accessible anywhere else as an incentive to follow your company.
• Newspaper: Since Coca-Cola published the first coupon in 1887, newspapers have been extensively utilized to disseminate coupon advertising, and newspapers are being used to deliver coupon ads today. Newspapers may be a terrific tool for local companies to reach out to their consumers. Find out more about newspaper advertising and the expenses associated with it.
• Snail mail is another traditional method of disseminating coupons. Postcards, for example, are a terrific way to offer cost-effective and eye-catching discount advertisements. Visit VistaPrint for fast pricing on your postcard specifications, or see the top direct mail services for more information.
• In-person: Of course, any company with a physical location—or one that sells items in one—should consider handing out coupons in person. This may be done in a variety of methods, depending on your company, but can include anything from receipt coupons to coupons on product packaging (e.g., the $1 off sticker or tag on grocery store items).

You should pick the distribution channel that best matches with your target demographic and your advertising aim or purpose, just like you would with any other kind of advertising. It’s also worth thinking about if you should utilize more than one distribution channel to get additional ad exposure. If you’re pushing your ad as a reminder to an existing client base, for example, share your discount with your social media followers as well as through email.

Great Coupon Advertising’s Components

Example of a coupon ad

Not only do you need a marketing purpose and the correct platform to disseminate your coupon ad to your target audience, but the coupon also has certain important components. It should be eye-catching to pull people in, and it should have a clear message with an intriguing offer that is simple to get. When planning your coupon advertising strategy, think about things like timing, scarcity, and exclusivity.

Here are a few things to think about while creating a successful discount ad:

• Coupons rely on people noticing them, and in a world overloaded with advertisements and stimulation from all directions, you need to produce an eye-catching and aesthetically attractive coupon. It’s often worthwhile to engage a graphic designer to guarantee that your coupon does this. Try Fiverr if you’re on a tight budget.
• A clear message: It must not only look nice, but also sound good. It’s critical to have a single marketing message. In other words, visitors should be able to see what your coupon is delivering at a glance.
• Call to action: Now that you’ve enticed your audience, it’s time to close the sale. Include a call to action (CTA) to encourage customers to take the next step, whether it’s a live link to the product you’re advertising for a digital discount, a coupon code, or instructions to present the ad to a cashier the next time they visit your store.
• Timing: Running appropriate holiday specials, as Payless did with their Easter freebie, is a smart business move. People like a good Christmas bargain, regardless of when it occurs. Keep an eye out for forthcoming festivities and generate a promo code to give out during them. Take advantage of the opportunity to launch year-round Christmas specials that your clients will like.
• Coupons are designed to be a limited-time offer in order to elicit action; otherwise, they would merely be a price tactic, not a kind of advertising. Scarcity may be achieved in two ways: by providing the coupon for a limited period or by giving a restricted amount of coupons.
• Exclusiveness is another prominent component in coupon promotion, in addition to scarcity. To encourage additional followers or members of a loyalty program, a firm can provide special incentives to its followers or members.

When creating your coupon, keep your target audience in mind. Consider which coupon distribution strategy (e.g., email, Groupon, website pop-up, social media, etc.) would best reach them, how your coupon will stand out within that distribution channel, what would be attractive to them, and how they will respond to your offer. Check out these coupon advertising ideas for additional information.

How to Create a Coupon

The next step is to construct a successful coupon now that you know what features are required. Ultimately, you’ll decide whether to design the coupon in-house or hire a professional, based on your skills and resources. If you or your team has previous design knowledge, creating your own coupon is an obvious option. Hire a freelancer or utilize a design platform if you don’t have the time or aren’t confident in your own design ability.

The following are the most common methods for creating a coupon:

• Create your own: Even if you’re not a Photoshop whiz, if you have a creative eye and some expertise, you can simply create your own coupon using Canva.
• Hire a freelancer: If you don’t have time to create your own coupon but are on a limited budget, use a site like Fiverr to hire an ultra-affordable graphic designer for your job.
• Hire a professional designer: For a more professional design, you may submit your design request to sites devoted to providing graphic design knowledge, where you can obtain hundreds of design submissions from specialists. Choose 99designs or DesignBro to receive the greatest designs for a set charge.

Begin by figuring out the strategy behind your coupon before designing it. What do you want to accomplish with it in the end? What’s the most effective strategy to reach your target market? And what marketing message and offer are most likely to resonate with your target market? With these in mind, you can create a smart coupon design that not only looks excellent but also achieves your objectives.

Most Commonly Asked Questions (FAQs)

Is Groupon a useful marketing tool?

For companies, Groupon may be an effective marketing tool. It’s not simply for promoting a product or service, increasing brand awareness, or closing transactions. What it’s really good for is capital generation. As a result, it’s often employed by enterprises in need of a certain amount of money (for example, a restaurant in need of a new grill) that are seeking for alternate financing solutions.

On my Facebook Business Page, how can I make a coupon?

One of the many benefits and possibilities of Facebook Business Pages is the ability to create a coupon or discount that can be shared with your followers. Log in to Facebook and go to the Ads Manager section. Then, when you get to the part labeled “Offer,” flip the toggle button to on and start generating a new ad. Follow Facebook’s instructions, or start by learning how to build a Facebook Business Page if you don’t already have one.

Coupons or discount codes: which is better?

Discount codes and coupons are essentially the same thing. The distinction is that coupons have typically been issued in print (e.g., newspapers and magazines), while the phrase “discount code” was used to describe an online offer. Online coupons definitely exist in a digital era, and with the power of technology, in-person discount codes do as well.

Conclusion

Of course, there’s a significant difference between companies who perform coupon promotion successfully and those that don’t. And the quality of your coupon ad campaign, as well as the strategy behind it, will determine how successful it is. What’s amazing about it is that almost any sort of company may benefit from coupons. If you’re not sure how to achieve this, try hiring a marketing guru via Fiverr or Upwork.

You Might Also Enjoy…

Coupon advertising is a popular way to get new customers. It’s also a great way to make money as well. The article will give you tips on how to make coupon advertising work for you. Reference: coupon incentives.

Related Tags

• digital coupon market
• coupon promotion
• coupon examples
• example of coupons in sales promotion
• digital coupon companies