In this blog post, find the latest data on how effective coupon marketing is, where consumers are looking for coupons, the rise of digital coupons,...
3 Reasons Coupon Marketing is the Right Strategy for Your Business
Whether you want to acquire or retain customers, or just want to add some effective and affordable marketing to your repertoire, learn why coupons are an important part of any CPG brand's growth marketing strategy.
In a world where people are increasingly frugal and inflation is on the rise, coupons are becoming a more powerful marketing tool than ever. Since almost 90% of consumers used coupons in 2020 (Statista), businesses that use coupons may just have the secret to an awesome growth strategy.
So What Makes Coupon Marketing so Effective?
There are many benefits to using coupons in your marketing strategy. Here are some of our favorites.
Coupons can be a great way to market your business on a budget. There are affordable DIY couponing platforms like this one, that let you create manufacturer's coupons on your own. They are an easy way for businesses to reach more customers for less money.
Coupons are a cost-effective way for businesses to compete with larger companies that have more resources and a larger reach. They are a great way to reach new customers and stay in the game as a business trying to compete with massive enterprises.
2. Build Customer Loyalty
Did you know that 91% of coupon redeemers say they will revisit a retailer after receiving a coupon (GAP)?
Customer loyalty is important for a number of reasons. First, it helps businesses to retain existing customers. Customer retention is key to the success of any business. It costs six times more to attract a new customer than it does to retain an existing one. Plus, it’s much easier to sell to an existing customer than it is to find a new one.
Second, it encourages customers to spend more money with a business. Third, it helps businesses to attract new customers. Fourth, coupons are a great way to reward customers for their loyalty. Coupons are a great way to build customer loyalty and encourage repeat business because your customers know they can always find a great deal with your brand.
Businesses should look for couponing solutions that allow them to distribute coupons to their customers' favorite channels, we recommend couponing platforms like Qples. They offer virtually every method of coupon distribution you can think of.
3. Reach New Customers - Anywhere
One of the main benefits of using digital coupons is that they are a great way to reach new customers. 89% of millennial consumers report that they would try a new brand if there was a coupon offered (Statista).
Coupons aren't just on the flyers we get in the mail or in the supermarket anymore. Coupon platforms today have many different options for reaching new and existing customers. Regardless of where your customers are you can distribute coupons on all your social media channels, in-store, through couponing websites like this one, on your products, through your website, on a bus, and just about anywhere else you can think of. They can be used in-store or online. This makes them accessible to customers no matter where they are.
Digital coupons are a great way to reach new customers and increase sales. They are an affordable and easy way to market your business. In a world where people are increasingly frugal, digital coupons are more popular than ever. Businesses that use digital coupons see increased customer acquisition.
When you're looking to start using coupons in your customer acquisition strategy, you should think about where your customers shop and how the platform you're creating coupons with will help you reach new customers. While it's important to distribute the coupon on your own channels, to acquire customers you want to focus on distributing coupons to 3rd party platforms, like GCN, where millions of shoppers find grocery coupons. Companies like this one, do not charge extra to list your coupon on 3rd party platforms. Free marketing? Yes, please!
Whether you want to acquire or retain customers, or just want to add some effective and affordable marketing to your repertoire, coupons are an important part of any CPG brand's growth marketing strategy.