How to use coupon promotions to drive customer loyalty
Coupon promotions are not a new phenomenon, but they are still relevant today. Why? They are effective. Coupons benefit a business in many ways some notable ways include
• Attract new customers.
• Increase sales of a specific product.
• Increase branding and awareness.
• Reward current customers.
• Entice return to former customers.
• To create an opportunity to Up-sell a more profitable product
• Highly measurable form of marketing.
• Increase your market area.
Coupon promotion ideas
Retailers add coupon promotions to their sales and marketing strategies to attract, excite and retain their customers. Here are some coupon promotion ideas to help retailers achieve their goals.
Coupon promotion that gives a fixed amount off a certain product i.e 5c off a litre of gas.
Coupon promotions can run as part of a loyalty programme, create a coupon promotion exclusive to loyalty programme members on a specific product.
Attract and engage non-loyalty programme member by creating a coupon promotion for a specific product.
Digital coupon promotion encourages customers to redeem a coupon online for a specific product.
Increase awareness of a new product by creating a coupon promotion to encourage people to try it.
Tips to enhance a Coupon Promotion
Coupons promotions work well as a stand-alone feature. However, many brands use various customisations on their coupon promotion to help drive their effectiveness. Some of these strategies include time restraints, spend thresholds, customer feedback and seasonal celebrations.
Adding a time restraint to a coupon promotion adds an urgency factor to a coupon promotion and encourages customers to redeem the promotion.
Using a spend thresholds strategy for customers to avail of the coupon promotion is a simple way to increase customer spend.
Combining a coupon promotion with a stipulation such as “get a 20% coupon when you fill in a survey” is a good strategy for brands gathering customer feedback or even trying to promote the desired behaviour.
Linking coupon promotions with seasonal holidays, for instance, Easter, St. Patricks Day, 4th of July, helps celebrate an occasion and allows a brand to connect with its customers.
Coupon promotions are an attractive way to increase sales and build customer loyalty. Coupon promotions work well as part of a wider marketing mix but also work well as a standalone tool. Azpiral’s latest coupon promotion software can be used as part of a loyalty programme or run independently. The coupon promotion software is fully customisable to meet its user’s needs.
Azpiral, world- class loyalty technology, launched there coupon promotion software. Find out more.