Saving money is a top priority in every household, and coupons seem to have taken on the feeling of extra money in our wallet. While most expiration dates are based on the sale time-frame, some have longer shelf lives. They come in the form of specific dollar amounts, or a percent off purchases as well as other costs including shipping. Online retailers are taking advantage of the coupon phenomenon through snail mail, email, social media, and on website home pages. With a world obsessed with price, it’s no wonder that coupons have taken on a life of their own and transformed the retail industry.
Snail Mail
Opening your regular mail from an online retailer nowadays has generous incentives that can make a desired item a reality. It may seems like an outdated method, but most retailers have found that these physical coupons get them more for their money in the long run since today’s online customer is so easily distracted.
Email
Remember to join the mailing lists for all your favorite online retailers so any promotions and coupons will be easily sent to your inbox. With the advent of the smart phone, bar-codes from these money-savers can be displayed at the register without ever having to print anything. Some sales allow coupons to be used more than once, and encourage repeat business with a single mailing.
Social Media
Likes and shares on Facebook, re-tweets on Twitter, and updates on LinkedIn are all new strategies that have a maximum return on investment with nominal incentives. Tactics also include pinning a targeted coupon within a blitz campaign at the top of a page. Retailers are reaching a larger audience by boosting a Facebook post at each launch, as well as selected times during the promotion.
Websites
A common online tactic used with coupons is having them placed at the top of home pages to hook visitors into purchasing an item they may have just been checking out. Tagging online coupons with surveys and feedback to stretch the marketing dollars even farther is another strategy. This is coupled with creative designs and calls to action for targeted audiences that engage them in conversation about the latest specials. The results are an increase in the online metric of conversions, with soaring profits and revenue.
There are also more options today for websites dedicated solely to couponing and gaining revenue for retailers. For example, customers might browse Discountrue for further discounts at well-known retailers, and stores get the chance to offer increased savings at purely online markets.
Brand awareness is the caveat to every marketing campaign. The most effective way to build brand loyalty is to incentivize consumers with coupons. A plethora of online retailers have a standard discount coupon at all times which can help customer become more familiar with the brand when they have guaranteed savings. 21st century technology has opened a Pandora’s Box of innovative options to use coupons to move inventory and gain profits.