- Lynn Walsh
Coupons are alive and well BUT
Very often I receive client requests for rates and information on coupon clipping options. We all receive them at our homes and they are ever present each month. My response to this question depends on the type of business.
Coupon clippers are still alive and well these days but here are a few constants that may work in your favor:
The type if business you are in - Great for local small retail businesses - you can target a certain area and market profile that is likely to patronize your business. Great candidates are any home maintenance firms, local restaurants and retail stores. Be prepared to deliver excellent customer service to create repeat business from those who are first-timers because of the coupon.
Repetition - One hit wonders rarely work unless there is a call to action or a coupon so count on repeating your message multiple times even if you are promoting a special event.
Be sure to include a deadline a special offer for a limited time only.
A few things to remember when you are advertising as part of a coupon clipping book or value package:
Your message is included along with several other businesses; therefore diluting your message and dividing the consumer's attention. Fortunately studies conducted by the vendors claim that the readers will review the entire stack so your message is likely to be noticed. Now there are online and mobile components of this program.
Prepare to pay for a premium position in the card deck or within a coupon clipping book.
There's always the concern that a coupon may not create a loyal customer just the bargain hunters.
Ask yourself these questions to put yourselves in the shoes of the consumer; especially if you fit your market profile:
Do you open these types of mailings?
What dollar amount or percentage off moves you to act on these offers?
Do you look for a business you already patronize or are you willing to try someplace new just because of the offer? (This is huge) Or
Do you just throw the whole thing in the recycle bin?
Remember that any mail campaign is only as good as your mailing list. Be sure to be in touch with exactly who your customers are in terms of age, gender, household income and purchase habits. The most successful mailing list is not on that is purchased but one that you organically maintain that includes your sphere of influence. This type of program isn't for everyone but if you are a candidate be sure to stack the cards in your favor!
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