31%* of consumers want a coupon from YOU
Coupons are the unsung heroes of the marketing world.
Far from being old-fashioned promotional tools, today’s coupons can accommodate fluctuations in the economy and constantly evolve to meet the demands of new technologies.
Add to that their capacity to increase sales, build profiling databases, skilfully direct the buying habits of consumers and deflect attention away from your competitors, you have to admit…
…the humble coupon packs a hell of a punch!
And consumers love them. Coupons make them feel smart and financially savvy when they save money on their shopping. In fact, recent research revealed a whopping 31%* of consumers actively seek coupons before shopping for goods and services. Considering the positive feelings coupons inspire in consumers, it’s surprising how many brands miss out on the benefits of a well-planned coupon campaign.
It adds up to one thing: you need to think ‘coupon’ as a strategy if any of the following fit your marketing aims:
Promote new or existing products and/or brands
- Extend an existing brand
- Introduce new products or brands
- Increase market penetration
- Enter a new market
- Encourage repeat purchase
- Attract new consumers
- Reactivate lapsed consumers
- Support brands at Point-of-Sale
- Draw attention to your brands
- Encourage trade-up to a larger size
- Encourage trade-up to a premium brand
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Maintain more effective stock and pricing controls
- Reduce excessive stock levels
- Prevent consumers stockpiling
- Even out ‘rollercoaster’ sales patterns
- Drive sales of seasonal products
- Encourage purchasing over a fixed period
- Cushion impact of price increases
- Protect long-term margins
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Deepen your relationship with your consumers
- Encourage and reward loyalty
- Get directly into their homes
- Shape their spending behaviour
- Stretch usual spends with threshold offers
- Target precisely using personalisation
- Encourage higher levels of brand engagement
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Outsmart your competitors
- Deflect attention away from them
- Encourage brand switching
- Reduce the impact of their promotional activities
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Better financial management of sales promotions
- Track retailer behaviour
- Tackle underperforming retailers or stores
- Drive sales in individual stores or regions
- Drive sales in specific areas of stores
- Manage promotional budgets with ease
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Expand your information database
- Build a consumer or retailer database
- Enhance existing profiling information
- Drive a successful loyalty programme
- Measure Return on Investment
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Sounds good doesn’t it!
But here’s the thing…if you’re going it alone with a coupon campaign, you’re going to find it tough. Generating the right level of consumer stimulus and achieving your objectives simultaneously is no picnic. It takes a lot of experience and judgement to combine a vast number of individual factors seamlessly.
To help you, we’ve put together some hints and tips within the Coupon Fundamentals section of this site to get you thinking about the issues involved. Alternatively, if you don’t have the time or inclination to create a coupon campaign from scratch, call 01536 400123 and talk to one of our experts about us doing it for you.
*Gfk NOP June 2009
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