The best way to still turn a profit on coupons is to bundle more than one service or product as a package deal. It can be combining a high margin product with a lower one, or a package that includes a series of visits.
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Businesses that use Groupon or other coupon sites think that they will get a bunch of new clients that will keep coming back after they use the coupon. You can also follow up the service with an email asking how it was and offering them a coupon or deal for their next visit. Make them feel special—give them great service and follow up with a good deal.
If they stay with you, even if you lost some money on the initial coupon, it will be worth it in the long run.
How to Start Couponing for Beginners: Guide - Thrifty Nomads
Having a reason behind offering a coupon will make clients much more accepting of the full price when the special time is over, and it will be easier to turn them into profitable clients. Groupon and similar sites want you to offer as many coupons as possible, so they make as much money as possible off your deal.
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However, it might not be the best thing for your business to offer a large volume of coupons, because it might affect your existing clientele or business if the coupon ends up not being profitable. For example, limit one per client or visit, only for the first visit or new clients, only above a certain purchase size, and so on. This will ensure that you are making enough to justify the coupon.
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Make it a condition that in order to redeem the coupon, they must provide their email and phone number. And as online retailers continue to offer bigger discounts, shoppers have come to expect more online coupons, more often.
Happy selling! Matt has created hundreds of articles, videos and seminars on all things ecommerce. Ebusiness has completely changed the way we buy.
Common Mistakes When Grocery Shopping with Coupons
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How to Steal Your Competitors' Customers. Back to Blog Ecommerce Basics. July 03, Shoppers now expect online coupons. Watch our episode to learn how to make the most of your online coupon strategy. Hey everybody. All the more reason to be interested in couponing! The margin on a product sold with a rebate being necessarily reduced, you will have to make a real upstream reflection around the promotional codes to put in place, and therefore around the strategy to adopt. This reflection is essential to know how to give a boost to your sales methodically.
It is nevertheless important that the couponing is not your only marketing action. Combine this method with other web marketing techniques to optimize your site and your sales. Keep in mind that this type of operation must be in line with the image of your brand, so be careful if you want to position yourself as a prestigious brand or you are already recognized for your high-end products. It is indeed difficult to imagine a luxury brand offering many discount coupons.
There are different types of promo codes depending on your activity, depending on the season, and depending on the objective. You can determine the amount based on an average basket analysis via Google Analytics for example.
5 Tips to Make Your Coupons More Successful
But why exactly do they work so well? Coupon marketing strategies, along with a whole host of different other concepts, all have a significant bearing on how we perceive the coupon site and contribute to how well it works. While there will probably be a difference in opinion about what makes a coupon site work perfectly, there are a few facts that no one can deny.
Chiefly among these is the idea that the coupon site has soared in popularity over the last few years.