Approximately 95% of French households use money-off coupons (Acxiom study). This shows that your customers are very interested in this type of promotional offer. It is therefore important that you have a good understanding of it. We will present the different types of money-off coupons that you can offer to customers according to the marketing objectives that they fulfil.
The 3 money-off coupon marketing objectives:
- attract new customers and retain them
- increase your average basket
- increase the visibility of certain products
1-Attract new customers and retain them!
If you have, in addition to your online store, at least one physical outlet, offer your Internet users money-off coupons to use only in stores. To take advantage of your promotions, customers must print the coupons from your site. Before they print them, ask them to create an account. They will then provide their email addresses which you can add to your existing customer database. Implementing this type of coupon allows you to save money since you do not pay for the printing of these coupons yourself.
When you click a link to take advantage of a money-off coupon, a window appears asking you to enter your user details, if you are a site member, or create an account if you are not. This is when the store collects the email addresses of these new customers.
You can also offer your customers coupons that allow them to get an immediate reduction when they purchase something at your store. This type of coupon, which encourages impulse buying, must be very attractive. Offer, for example, a reduction of a set amount (e.g. 20 Euros off) or a discount of X% (15% discount) on any of your products for a given period. Of course this operation is not profitable straight away from a financial point of view but it will provide you with new email addresses and therefore future customers that you can make loyal to your brand. You should be aware that this strategy gives satisfactory results if the traffic on your site is already quite high.
Money-off coupons are also a way of getting closer to your customers. Send them personalized coupons based on their previous purchases. For example, you notice that one of your customers regularly buys certain products from you, so from time to time offer him a money-off coupon on these products in the form of a discount of X% (e.g.: a 15% discount on the product) or in the form of a reduction of a set amount (E.g.: 20 Euros off when he buys a product belonging to the category). Noticing that you have shown an interest in him, your customer will return to your site if he needs to buy something.
2-Increase your average basket
To increase your average basket, you can give your customers coupons offering a reduction of a set amount for a purchase worth X Euros (e.g.: 25 Euros off when they spend 100 Euros). Internet users will not hesitate to spend more than they were intending to in order to take advantage of this good deal. The result for you will be an increase in your average basket.
There is another type of money-off coupon which allows you to increase your average basket: a discount of X% when several products are purchased (E.g. 15% discount when three products are purchased). The end goal is the same: to encourage the Internet user to buy more by giving him an attractive offer.
3-Increase the visibility of certain products and your site
Offering attractive discounts and reductions is an effective way of encouraging Internet users to buy new products and make them visible. Indeed, the customers who buy your new products, attracted by your coupons, will post comments on your product information sheets and on forums and will therefore create business for them.
Offering money-off coupons for products that your customers steer away from allows you to sell them, on the one hand, and also create renewed interest in these products.
A relevant way of increasing the visibility of your site is to make available your money-off coupons on sites specialized in promotions. These sites attract an enormous amount of Internet users who are looking for money-saving offers.