Think that coupon advertising is obsolete in the digital age? Think again. Despite the fact that technology impacts nearly every aspect of business, people still love a deal. While many assume that deal-hunters and coupon-clippers are the only ones looking for a bargain, according to a survey by Visa, 72 percent of Americans who earn more than $125,000 use coupons.
What does this mean? That consumers of all types still harness the money-saving energy of coupons. Also, a surefire way to inspire brand loyalty means reaching your consumers in areas they frequent, such as a local supermarket chain.
As an illustration of three ways to reach and influence your next customers to become repeat buyers, consider these creative methods on leveraging coupon advertising.
1. Loyalty Cards
Members-only programs not only create proud, card-carrying members, they build—and reinforce—customer loyalty. These programs encourage customers' repeat buying habits by offering exclusive deals that are only available to participating customers. In exchange for participation, customers are offered an array of discounts, coupons, and points towards merchandise.
By paying for a membership, consumers often feel allegiance to a single store and obligated to get the most out of these programs. In this regard, loyalty campaigns help customers feel an incentive to shop at one single location, which contributes to repeat customers' buying habits.
What’s the big deal with repeat customers? Not only do they tend to buy more products, they save money for your company. Research shows that repeat customers spend up to 67 percent more than a new customer. Depending on the industry, the process of acquiring new customers can be five to 25 times more expensive than retaining existing ones.
Ultimately, pairing coupons with loyalty cards can drive specific campaigns toward a targeted audience. In doing so, these programs help convince customers they’re receiving the best deal, and help influence consumers into buying all their groceries (and then some) from a single retailer.
2. Online Presence
We’re not saying that brick-and-mortar stores are going anywhere soon. While advances in technology have made some industries obsolete, other industries continue to thrive: restaurants, auto shops, and other specialty service stores. However, technology is impacting these industries in the way consumers do their research. In fact, up to 81 percent of customers perform research online before making a purchase.
That’s why it’s important for businesses of all sizes to remain visible online. Maintaining an online presence is crucial for your brand image. Maintaining an online presence is also an effective way for businesses to differentiate themselves, build strong relationships, and support their customers. Let your consumers know that they're appreciated and that you care.
Coupons makes it easy to bridge the gap between the digital and physical world. By including a link on coupons to your company’s web or social media pages , you can help drive traffic while promoting your products or services. Ultimately, in the digital age, consumers prefer a specific location where they can view products and promotions. Augmenting your online presence with physical coupons can help answer questions, while promoting specific items.
3. Receipt Coupon Advertising
Can you name one place where nearly everyone visits on a routine basis? Your local grocery store. Which one thing do all consumers receive after their food shopping experience? A receipt. Despite the fact that consumers may spend more time online—to compare and contrast products while searching for deals—at the end of the day, they’re still shopping for food in physical stores and receiving physical receipts.
As mentioned above, it’s tough to turn down a good deal. What’s more, coupons impact happiness and health. A recent survey found that participants who received a $10 voucher experienced a 38 percent rise in oxytocin levels and an 11 percent boost in happiness. Additionally, shoppers' respiration rates dropped 32 percent, and their heart rates decreased by five percent, while sweat levels on shoppers' hands were nearly 20 times lower than for their peers who did not receive a coupon.
By catering to the needs of consumers and influencing their emotions through coupons, every industry from auto shops to restaurants can leverage the power of coupon advertising to create happy, repeat customers.