Beginner's Guide to Coupon Marketing Strategies:- www.deekpay.com

Coupon marketing has become an integral part of any marketing strategy and it is safe to say that coupons have turned into a full-fledged marketing tool. It not only drives sales, but also helps in building brand image and increasing customer loyalty. With the help of various marketing automation tools, a proper coupon marketing strategy can also help you create a relevant database. This article will provide you with a detailed guide on how to develop a coupon marketing strategy that will help you achieve your marketing goals with ease!

Coupon marketing strategy: laying the groundwork

Before we delve into how to expand your marketing efforts through effective coupon marketing, it is necessary to understand why you should choose coupon marketing. Here are a few of the main reasons why your business should use coupon marketing:

Attract New Customers & Generate Traffic: coupons are one of the most effective ways to attract new customers. This can be achieved through social sharing, word of mouth and viral marketing.

Help with customer retention campaigns: you need to put some effort into retaining customers who have been out of touch for a while. Send out coupons via email and SMS to draw them back into your business and ensure your business grows.

Building Brand Loyalty: building brand loyalty is one of the most important parts of growing a business. The best coupon marketing strategies will prioritise building meaningful relationships. Coupon marketing plays an important role in this process.

Access to relevant databases: as mentioned earlier, there are a number of tools that can be efficiently used to create databases that can in turn be used for your targeted marketing campaigns.

Boost sales metrics: every business has set goals and we want to see the numbers grow at the end of the day. Coupons have been proven to be effective in boosting your sales.

EASY TO CONTROL AND TRACK: With all the easy to use dashboard features, it is very easy to control and track the performance of your coupon marketing campaigns. Based on the performance, you can decide how to plan your next actions!

Read our blog, How Businesses Can Succeed with Coupon Marketing, for a detailed guide to the types of coupon marketing and the best platforms to choose.

How to plan your coupon marketing strategy?

Now that you know why you should use coupon marketing, here's a four-step guide to help you develop a strategy to achieve the best results:

1. Identify your target audience

The first step is to understand who your target audience is. The success or failure of your coupon marketing strategy depends on how well it resonates with your target audience.

This means you need to ask the following questions before you plan the "type" and "platform" of your coupon marketing:

Which age group is more open to coupons and offers? Are there any geographic areas where the best ROI will be obtained? Should the target be existing customers or attracting new ones?

And so on.

If you plan to target existing customers, do a detailed competitor analysis and go beyond what your competitors are doing. On the other hand, if you plan to attract existing customers, carefully analyse their buying patterns and past behaviour and offer coupons that best suit their buying style. Statistics show that more than 80% buyers would switch brands if offered better coupons and discounts.

The gist: tailoring your coupon marketing strategy to meet the needs and buying habits of your target audience is the best way to boost conversions immediately. Don't let customers leave you after redeeming a coupon. Instead, continue to target marketing to them with follow-up coupons!

2. Deciding what favours to offer

Now that you know your target audience, it is time to decide what offers you should offer them. The best thing to do is to offer coupons based on their preferences and choices. This is a very crucial step when planning a coupon marketing strategy because this choice determines the overall success of the entire campaign.

The key is to be careful when choosing coupons for your campaign. Make sure that the type of coupon you choose aligns with the buying habits of your target audience.

For example, if your buyers like to save instantly on their purchases, choose a monetary value-based system. Or, if your buyers typically shop via mobile devices, send text-based coupons! You can also choose to send digital coupons via email to buyers who leave at the checkout window.

The gist: choosing the right mix and planning appropriately will help you make the most of the ROI of your entire campaign!

3. Choosing the right platform

After knowing your target audience and deciding what offers to make, the next and most important step is choosing the relevant platforms. You may be wondering which are the best places to post these offers to attract a large number of potential customers who are ready to buy? One of the answers is online coupon sites like couponduniya, groupon and others.

Remember, 96% buyers visit the coupon site before purchasing!

Other research also shows that 71% buyers follow brand social media accounts to get the latest coupon information. Another 58% of buyers prefer to receive coupons via email. So, you know which are the most likely channels to use to knock on your customers' doors!

The gist: when people see coupons on social media, they tend to share the posts. This means free branding, positive sentiment, and amazing ROI. Experiment with different platforms to see which works best for your brand!

4. Analyse the performance of your activities

After all the research, planning and execution of your coupon marketing strategy, the final step is to track and measure the performance of the campaign. This will provide you with insights into whether the campaign is running well and achieving the desired results. Based on these metrics, you can plan to decide on the next steps.

If you provide a link to a login page, then track the traffic by creating a trackable URL. Another key step is to gain insight into at what stage the buyer used the coupon or left. Carefully monitor each step and look for any numbers that will help you develop the best strategy for your next campaign.

Key point: never rely on assumptions when working with data. Get into the habit of tracking and controlling your campaigns on a regular basis to optimise it in the best possible way! This is a long-term path to maintaining a healthy coupon marketing strategy.

Planning a coupon marketing strategy is more than just designing an attractive coupon. It requires a detailed and integrated management system that evolves over time. Be prepared to deliver an omni-channel experience and build personalised relationships with your customers/buyers. The numbers and charts for coupon marketing will only continue to rise. By incorporating the above steps into your coupon marketing strategy, you will be ready to execute a successful campaign!

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