Blog Post | Aug 15, 2023
Some Compelling Facts About Successful Coupon Marketing
Coupons are an easy way to reach new customers and entice existing customers to buy more. These compelling facts can help you create effective coupon marketing.
If you’re not using coupons to market your business and reach new customers, you could miss out! Some marketers have the misconception that coupons are old-fashioned and devalue the company and its offerings but, done appropriately, coupons are a fast and effective way to drum up sales and welcome new customers.
Still not convinced? Consider these data points that prove their benefits and can help you shape a couponing strategy for your business.
Everyone Loves Coupons!
In 2022, 88% of households reported using coupons(digital or print), and 96% of online shoppers reported looking for coupons.
That Includes Shoppers with High Incomes
Even well-off people love to save money: nearly 86% of people who earn more than $200,000 and more use coupons. This should put to rest the long (and wrongly held) belief that coupons are only associated with discount brands.
However, if you’re worried about cheapening your brand or offering, you can still offer a coupon. Instead of a percentage or dollars off, you could include a value-add like a premium service. Or you can use higher-value offerings and savings based on spending, which can help you retain customers and incentivize them to spend even more money on your products.
Paper Coupons are the Most Popular with Shoppers 35+
In marketing, we talk a lot about interactivity, and that’s not only limited to the digital domain! People still enjoy clipping and tearing coupons out. That’s one of the reasons shoppers over the age of 35 prefer paper coupons to the digital alternative.
More than Half of Shoppers Like Receiving Coupons in the Mail
It just makes sense since so many shoppers prefer tangible paper coupons. On the other hand, digital natives like Millennial and Gen Z Shoppers prefer getting coupons via digital, mobile and even social sharing.
Ideally, your strategy will account for print and digital coupons: Emails that feature a coupon earn retailers 48% more revenue than other promotional messages.
You know what else makes sense? Planning direct marketing campaigns that feature coupons specific to your audience segments.
Nearly 86% of Consumers Try New Products Because of Coupons
Coupons are almost a fool-proof way to get would-be customers to try out a new product or service. And additionally, nearly 40% of shoppers will purchase a product even sooner if they have a coupon.
Managing the Trade-Offs
Even with all of these benefits, coupons are not a marketing miracle. Perhaps the biggest downside is that coupons mean less profit, which can eat into your bottom line. Even though coupons can help you convert new customers, there will be a percentage of people who buy your product just that one time, and up to 75% of customers say they expect coupons and will wait to make a purchase (call it the “Bed, Bath, and Beyond” effect).
The answer to these drawbacks is cultivating relationships with your new and existing customers with an attractive, well-designed marketing campaign. Let us help. Whether you’ve already started using coupons or are looking for guidance on integrating coupons into your existing marketing, we can help you with everything from marketing strategy to creating direct marketing campaigns and even designing and printing the coupons. Contact us to learn more.
Still not convinced? Consider these data points that prove their benefits and can help you shape a couponing strategy for your business.
Everyone Loves Coupons!
In 2022, 88% of households reported using coupons(digital or print), and 96% of online shoppers reported looking for coupons.
That Includes Shoppers with High Incomes
Even well-off people love to save money: nearly 86% of people who earn more than $200,000 and more use coupons. This should put to rest the long (and wrongly held) belief that coupons are only associated with discount brands.
However, if you’re worried about cheapening your brand or offering, you can still offer a coupon. Instead of a percentage or dollars off, you could include a value-add like a premium service. Or you can use higher-value offerings and savings based on spending, which can help you retain customers and incentivize them to spend even more money on your products.
Paper Coupons are the Most Popular with Shoppers 35+
In marketing, we talk a lot about interactivity, and that’s not only limited to the digital domain! People still enjoy clipping and tearing coupons out. That’s one of the reasons shoppers over the age of 35 prefer paper coupons to the digital alternative.
More than Half of Shoppers Like Receiving Coupons in the Mail
It just makes sense since so many shoppers prefer tangible paper coupons. On the other hand, digital natives like Millennial and Gen Z Shoppers prefer getting coupons via digital, mobile and even social sharing.
Ideally, your strategy will account for print and digital coupons: Emails that feature a coupon earn retailers 48% more revenue than other promotional messages.
You know what else makes sense? Planning direct marketing campaigns that feature coupons specific to your audience segments.
Nearly 86% of Consumers Try New Products Because of Coupons
Coupons are almost a fool-proof way to get would-be customers to try out a new product or service. And additionally, nearly 40% of shoppers will purchase a product even sooner if they have a coupon.
Managing the Trade-Offs
Even with all of these benefits, coupons are not a marketing miracle. Perhaps the biggest downside is that coupons mean less profit, which can eat into your bottom line. Even though coupons can help you convert new customers, there will be a percentage of people who buy your product just that one time, and up to 75% of customers say they expect coupons and will wait to make a purchase (call it the “Bed, Bath, and Beyond” effect).
The answer to these drawbacks is cultivating relationships with your new and existing customers with an attractive, well-designed marketing campaign. Let us help. Whether you’ve already started using coupons or are looking for guidance on integrating coupons into your existing marketing, we can help you with everything from marketing strategy to creating direct marketing campaigns and even designing and printing the coupons. Contact us to learn more.