How To Leverage Coupon Marketing During Difficult Times
The coronavirus pandemic affects all of us, especially small business owners. With stores being forced to remain closed and people quarantining at home, the once-thriving culture of small businesses increasingly led by women is seeing a drop in sales that worries many if their business can survive this crisis.
In fact, one in four small businesses have temporarily shut down as a result of the pandemic and 43 percent of small business owners think they have less than six months before they’ll have to shut their doors permanently.
However, every crisis is also a chance. While you may not be able to open your stores, you can use this downtime to focus on polishing your brand and finding new ways to reach your audience. Many restaurants and other small businesses have already started to promote gift cards without an expiration date to keep their customers engaged and sales up. If you want to leverage new marketing strategies during these trying times, Coupon Chief created a handy guide for small business owners that shows you how to boost customer satisfaction, maximize your reach, and secure sales.
What is coupon marketing and what are the benefits of a small business?
Any marketing strategy that includes the use of discounts, coupons, and promotions to leverage the customer’s interest in saving money on a purchase is considered coupon marketing. Consumers love saving money so this strategy could be an amazing opportunity for your small business to reach more people and boost customer loyalty.
How can you increase your sales with coupon marketing?
By using limited-time deals or flash sales, you create a sense of urgency in the consumer's mind. The shorter the time limit, the more likely your customers are to make a purchase. There are other ways to use coupon marketing to your advantage though. You can offer free shipping, rewards for referring a friend, host giveaways, or reward your customers with free samples with a minimum purchase.
How do I make my customers aware of the perks I am offering?
While many companies still send out physical coupons, you can save money and time by distributing coupons online. Use incentivized lead forms on your website that offer a discount code or coupon when sharing your data. The data you collect can be helpful in sending coupons to your customers via text or email.
While we all try to figure out what the new normal will look like, you can take advantage of the extra time on your hands and improve your marketing strategies to come out of this crisis stronger than you’ve ever been before.
Mona Freund grew up in Germany and now enjoys her life in sunny San Diego where she writes for Coupon Chief about finances, budgeting, and e-commerce.