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They confirmed that 91 percent of customers who redeemed a coupon with a retailer intended to revisit that brand again. These same shoppers also reported a higher overall sense of satisfaction from their experience.
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Even more interesting, 57 percent of their surveyed shoppers admitted that without a coupon they would have never made a purchase in the first place. As you can see, coupons impel consumer action in ways that few other techniques can.
Using beacon platforms and proximity marketing, brands can create a more exciting and engaging in-store shopping experience while also driving sales of promotional or high ROI items. Mobile intelligence firm NinthDecimal formerly JiWire revealed last year how proximity marketing could pave the way for more appreciative and purchase-prone customers.
5 Benefits of Using Coupons to boost your Business | Vauchar Blog
A separate study from a mobile-focused beacon marketing company found that 75 percent of customers in test markets who received beacon-triggered offers said they would be more likely to make a purchase. Harness the potential of beacon platforms and proximity marketing so that your own brand can reap all of these benefits. By Sean Callahan. In Digital. Coupons are a cost-effective and measurable way to recruit new customers, sell more products, and reactivate those customers you may have lost to competitors.
Coupons work by interfering with the cost-benefit analysis consumers perform before making any purchase decision. Customers will only visit a store and buy products when the benefits of doing so outweigh the costs, including the time and money spent making a purchase.
How Do Coupons Help Marketers Sell More Product?
Going back to the cost-benefit analysis, new customers will be much likelier to visit a store that lowers the cost of doing so. The first business to reach the new resident is the most likely business to gain a loyal customer.
Better yet, businesses that offer a discount have an even better chance. Offering coupons in retailers that New Movers are likely to visit — supermarkets and convenience stores like Dollar Generals — have much better chances of being seen by new movers, and therefore, gaining more loyal customers.
Attract More Customers
Read more about New Mover marketing in this blog. For example, commercials and ads on TV and in newspapers are often too expensive and time-consuming for small businesses to produce.
Coupons clearly and easily allow small businesses to communicate competitive offers that can steer more customers to use a particular business. With coupon advertising, small businesses also gain more control over where their discounts are distributed. Hyper-local businesses must have this control.
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Otherwise, the discount is lost on the wrong audience. Coupons work to remind these former customers about your products, and moreover, they provide an extra incentive for them to visit your store again. A simple reminder and offer can go a long way in customer retention for small businesses. This is especially noticeable for restaurants and places that serve food.