Whatever kind of retail business you have, freebies are the way to go. Business owners should know by now that customers love receiving discounts, exclusive offers, and the like. Promos are an effective way to drive sales, but there's more to it than that. When you give away a freebie, you're showing your customers that they matter to you—and when they feel cared for, it will be easier for you to acquire their loyalty.
In addition to improved customer retention, freebies can help you reach out to new customers who have yet to hear about your business. Hitting two birds with one stone is exactly why vouchers and coupons work so well for brands. If you plan to run a voucher marketing strategy, this article will give you some tips for success!
Vouchers and Coupons in Marketing: 7 Tips for Success
- Know your customers
The best way to entice your customers is to know what tickles their fancy. Receiving discounts and promos is great, but that may not be valuable to customers if they aren't relevant to their needs.
Research and learn more about your target market before deciding on an approach for marketing your product. This way, you can ensure that everyone who receives their coupons knows exactly what they'll get from them.
- Segment your customers for easy personalization
When you categorize your customers, it will be easier for you to target your marketing efforts. Dividing them into different groups based on their demographics, behaviors, and other factors will let you offer the right vouchers to the right people.
Once you've segmented them, it's easy to personalize the offer to each group so they feel like they're getting something tailored to them. This increases the chances of people buying your product or service because it feels like it was made just for them.
- Use different channels
These different delivery channels have very different audiences, so businesses must ensure they're targeting the right people with their offers. For example, if you're trying to reach a younger audience base, then using platforms such as Facebook, YouTube, and Instagram is your best bet since they spend most of their time on these channels.
- Double-down on visuals
Visuals are one of the essential parts of a voucher or coupon as they give customers an idea of what they're getting.
For instance, if you're giving away free coffee, you want customers to know they'll get free coffee, not just a discount. Perhaps it will be helpful to include and emphasize the word "FREE" in the coupon. Businesses can boost sales by providing clear and compelling visuals and making their vouchers and coupons more enticing than competitors.
- Make your offers time-sensitive
The key is to create a sense of urgency when providing special offers. People need to know when the sale ends to motivate them to take advantage of lower prices. Moreover, giving them a time limit will urge them to look further into your products and ask for the opinions of their peers.
- Test and learn from various offers
The whole point of a voucher is to incentivize the customer to make a purchase. However, if your business only has a single offer, you won't know which one works best because you won't have a point of comparison.
To see which one converts best, you need to try multiple options at once. With careful analysis, you'll be able to determine if your percentage-based discounts work better than price-based promos.
- Create a rewards program
A loyalty program gives customers incentives like points or cash back when they buy products, encouraging them to buy more products from the business. This strategy helps brands stay competitive. For example, if one company has a loyalty program, it will be difficult for others to compete by not having one.
Loyalty programs tend to keep customers coming back to you. If they receive enough points or cash back from buying certain products, they can use those for something else in your store.
Claim Your Success
As a seasoned business owner, attracting and retaining customers should be your primary goal. However, there will always be competitors also vying for your target market. With the points above in mind, staying ahead of the game through vouchers and coupons will help you maintain and expand your customer base!
Looking for a platform where you can provide discount vouchers with little-to-no hiccups? RUSH Plus is your all-in-one solution! Paired with our white label loyalty program and eStore suite you can maximize your voucher marketing campaign's performance and drive growth in no time!
Contact us today to get started!
