Businesses are still suffering from loss due to Covid-19. Many industries, such as food, hospitality, retail, and electronics have been directly affected by this negative shift.
According to the recent data, around 91% of customers who redeemed a coupon with a brand, revisited that brand again. Surprisingly, 63% of the consumers said that coupons add more value to their shopping experience, and they are more likely to buy from coupons.
Due to the virus, many businesses have lost many of their clients and faced financial loss. But the question is whether, after the lockdown, businesses should use the coupons or not? Well, the answer to this question is yes and in this blog, you will realize why your online business should use coupons?
So, here are a few benefits of using coupons for your business:
1. You Get New Customers From Coupons
Getting a new customer is not always easy for any business. You have to look at the CLV (Customer Lifetime Value) of a customer and many other factors are involved in getting a new customer. That is why it is said that focus on existing customers.
On the other hand, if you use coupons to get a new customer, it will be easy and cheaper. It means coupons are affordable to get new customers. Of course, most of them would be a one-time shopper, but if the product or service is great, they are more likely to buy from your brand.
If you are new to the business, this can be a great thing for your business. People will come to know about your brand and if you are offering quality, you are a clear winner. There are a lot of people who want to try first and then if they like the product, they would buy it again. So coupons can be a great kick-starter for your brand.
You can use this as a chance to work on your customer service and creating a great experience,
2. Raise Your Brand Awareness
When you start getting new customers regularly, people will start talking about your brand, assuming you have a great product.
If people like your product and customer service, they are likely to spread your brand name amongst their friends, on their social platforms, eventually, there will be more chances that your brand will get viral.
Business is all about customers and in order to make it a brand, coupons can play a major role if you apply the strategy in the right way.
3. You Get Target Audience
There are two things quality and quantity and quality always wins over quantity.
If we talk about in terms of business, quality matters a lot. Here, We are talking about quality customers or in other words, targeted customers. Coupons can help you target the customer you want to reach out without working hard, particularly, if you use a third-party website.
Most of the websites make it easy for you to target the right customer for your business because they filter the people based on their interests and location. The best thing about coupons is that you are not wasting your money and you are getting targetted traffic.
In addition to this, you are saving your precious time.
How Should You Do It?
Once a customer lands on your site through coupons, don't let them go. Try to grab their email id so that you can retarget them in the future. This can be the best marketing strategy you can do in the long run. And, retargeting via email is one of the best things you can do to sell your products or services.
So encourage them to provide their email id and you can give them something for free in return such as an e-book or anything that does not put you in a loss.
Using coupons can be one of the best strategies you can apply to boost your sales. It will help you get new, more traffic. If you have a new business, you can take its advantage to the fullest.
Coupons can be a great way for businesses to grab potential customers. Once the customers arrive, grab their email id by giving some value to them and target them by retargeting in the future to sell your products or services.