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How To Create A Great Coupon
A great special offer makes shoppers move, creates a "win-win" and is genuine.
In this article we’ll talk about how to create coupons and special offers that not only bring in new customers, but convert them to ongoing and loyal return buyers for years to come. We will review the psychology of why coupons work (click to see why coupon marketing works better than ever in the digital age) and actionable steps you can take today to create a great deal for your small business and your new customers!
Your business should use coupon marketing to systematically and steadily grow the customers base and not to try and get spurts of sales when your money is tight. If you are trying to make quick cash with coupons, you may make the deal to sweet and lose money OR not give enough to make the customer move. It’s simple and effective if you have a plan!
Quick Keys To Effective Coupon
- Your offer needs to give enough of a discount or value to make a person take action.
- Don’t lose money! Unless you can afford to. This is called a “loss leader” or “lead magnet”
- Create urgency or a sense that “now” is the time to buy from you without being too aggressive/rude.
- Use fun conversational, what I call neighborly, tone and language. Be a local friend!
- I like to either try and bump my average total sale or pair two services…discount your highest margin product if they buy something else full price.
- Be fun. Be honest. And be authentic.
Make Your Customers Move
Scarcity and/or urgency create a “fear” of missing out. It can make people feel like they are going to lose something if they don’t act soon. Getting your prospective customers to sit up and get into decision making mode is very important in creating an effective coupon. Here are some example you might recognize from other commercials, advertisements, specials or coupons:
- “Hurry, this won’t last long”
- “While supplies last”
- “The first _____ shoppers get ______”
- “This week only”
- “For a limited time”
However, it is critical to make sure that you are not too aggressive or rude. I like to pair urgency statements with a calming or “de-risking” element such as:
- “No long term commitment”
- “30 Day Money Back Guarantee”
- “If your not satisfied…”
I have seen this one-two punch drive customers into action over and over again, creating steady sustainable growth for small businesses like yours.
Create a "Win-Win"
At it’s core, all business really is is a “win-win” relationship. One party “wins” a valuable product or service. The other participant “wins” payment or money for the exchange. Coupons or special offers are a great way for businesses to amplify or showcase the buyers side of the “win” value, and if the value that your company delivers exceeds expectations you will gain a loyal customer for life…that is a BIG WIN for you the small business owner!
Small Business Secret Sauce
As a local small business, this is your secret weapon against you big business competitors. Goodwill for a local company could also be described as neighborliness. It is a sense of community where you are looking out and ready to help your customers get what they need and want at a fair price. It’s the old fashioned sense of everyone helping each other. Those same strong emotions a conjured up in your customers when they see a coupon from the business down the street.
Be genuine, honest and authentic. You will always cut through the noise of todays marketplace where we are bombarded with companies trying to get our attention.
Thank You For Reading, Hope It Helps You Grow Your Business!
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Coupon Whale is designed to help local business generate continuous interest in and leads for their businesses. Companies like yours each get a custom business profile to tell people all about your business, where you are and how to get in touch with you today. Your digital coupons allow you to effectively make offers to potential customers, generate new leads and steadily grow your business in your community.
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