Discounts and coupons can be a great way to attract new customers and boost sales. When used correctly, they can also help you build customer loyalty and repeat business. Here are some tips on how you can use coupons and discounts to benefit your business.
New Clientele
Offer discounts for new customers. This is a great way to attract new business and get people in the door. Make sure you advertise the discount prominently, so potential customers are aware of it. You can offer a percentage off of the total purchase, or a dollar amount off of a specific item. This incentivizes people who are hesitant to spend their money trying things or places they’ve never experienced before. This can be especially true for trying new foods, so coupons can be exceptionally successful for restaurants.
Building Customer Loyalty
Incentivize repeat business by offering loyalty discounts. For example, you could offer a discount to customers who make a purchase within a certain time frame, or who spend a certain amount of money. This encourages people to come back and shop with you again and helps build customer loyalty. It also shows that your business is on the giving end as well, because loyalty works both ways. This method is a golden opportunity to build a closer, long-lasting relationship with patrons who could be giving their business to anyone.
Coupon Distribution
There are a few different ways you can get your coupons into the hands of potential customers. One way is to distribute them through local businesses, such as coffee shops or grocery stores. You can also include them in direct mailings, use automated mailing services, or place them in strategic locations where they will be seen by people who are already in your target market. You can even use social media to reach a wider audience. But for more local services, it’s great to advertise to people who already live or work in the area.
Discounts for Referrals
You can also offer discounts to customers who refer new business to you. For example, you could offer a discount to customers who refer someone who ends up making a purchase. This is a great way to get new customers, while also rewarding your existing customers. It just feels good for everyone involved. It increases the morale of your staff as well, knowing that their current customers value their service enough to send their friends and family to experience it too.
There are many benefits to offering coupons and discounts for your business. By using them correctly, you can attract new customers, build customer loyalty, and increase sales. Keep these tips in mind the next time you want to run a promotion and grow your business.
