One of the most traditional, ever-green, and effective ways to beat your competitors, get new people coming into your shop (or brand), and drastically increase sales is by using coupons! In this beginner’s guide to coupon marketing, we will cover the best coupon marketing strategy that is used by millions of pro brands around the globe!
What is Coupon Marketing?
Let’s say your brand has 1000 regular customers, and you get around 2-5 new customers every day. How are you supposed to let people who are not in your circle know about your brand? Coupons. A coupon marketing strategy is used so that people’s natural curiosity is induced, as they get their hands on a coupon. Everyone loves a discount, right? Without further ado, let’s get started with our beginner’s guide to coupon marketing!
Best Coupon Marketing Strategy
The best coupon marketing strategy is the one that is structured and based on data.
1. Research Industry
Before starting to make random coupons, find some time to do competitor analysis. This should be your first step for the coupon marketing strategy. See what kind of coupons your competitors are giving, etc.
2. Segmentation
You don’t really want to send out one coupon to all your customers! That would not be effective, rather divide your customers or email subscribers into segments, and send them curated coupons for their specific needs. Doing this step is integral for a great coupon marketing strategy.
3. Have Something for Every Occasion
People love to search for coupons near holidays, big sale events, etc. So, make coupons for every possible holiday and event in the year. This method would add starts to your coupon marketing strategy – and bring in customers that you weren’t expecting!
4. Set KPIs
A KPI is a Key-Performance Indicator. Let me ask you this, how would you know if your coupon is performing well? Through the number of sales, or the number of dollars that came in? You need to set the KPI and keep tracking it for progress.
5. Coupon Sites
The last step of your coupon marketing strategy should be to submit your coupons on major coupon websites like CouponUpto. You can easily submit your coupons, and this way people who search Google for coupons of your brand would be able to find something nice.
Moreover, you can use these coupon websites in your daily life as well – whenever you are shopping online just search up the brand in CouponUpto and you would be able to get amazing discounts. For example, you can avail yourself of up to 80% off on Amazon by using this top Amazon coupon.
Ways to Improve Coupon Marketing Strategy
If you already have a coupon marketing strategy and are looking for ways to improve coupon marketing strategy – simply follow the following steps.
1. Distribute
Focus on the distribution of your coupons to websites like the one mentioned. The more distributed your coupons are, the more likely it is for Google to rank your coupons – and for people to find them.
2. Keep Tracking
The second thing to note is to never stop tracking your KPIs – make sure you have a monthly meeting with your partners discussing the development and the performance of your already present coupons!
3. See the Mistake
Another way to improve your coupon marketing strategy is to check where things went wrong. If a specific coupon is not performing well enough, check out the reason behind it.
4. Urgency and Rewards
Lastly, make sure your coupons offer some sort of urgency – people are 70% times more likely to use them right away, otherwise, they would simply forget about the coupon they have. Make it a sale coupon, or make it available for only a few days.
On the other hand, you can also give rewards to invite people to use your coupons. For example, ask them to fill out a survey and get a free coupon.
Conclusion
At the end of the day, making a good coupon marketing strategy is easy, but following through is the hard part. Make sure you are putting the required time and effort into the work to increase the traffic and sales of your online brand through your coupons and discount codes.
