Coupons Improve Distribution Channel Effectiveness
Coupons improve the conversion of each and every channel. On local business websites, we see 3-4x improvements in conversion by putting coupons prominently upon them. We see similar effects on Facebook, Twitter and email as well as one other important effect – loyalty and retention increases.
When consumers opt in to your email list or like your Facebook page, they want more than just information. It can be a challenge to make every local business update riveting to consumers if it’s just informational. And let’s be honest with ourselves: We all want to feel special. We want the oxytocin release a business can give us by telling us we are special and deserve a coupon.
By offering coupons as a part of your communication strategy, customers are more likely to pay attention to the next communication and less likely to unsubscribe. And of course, they are more likely to share a deal than other content.
Controlling Online Coupon Distribution
Your most important challenge is not creating the offer, but making sure it gets in front of potential customers. In fact, that’s why Groupon commands half of a pre-paid offer – they have a 30-million member email list and you don’t (yet). And that of course is why local Internet marketing is more important than ever.
Local businesses can command coupon distribution more now than in any time in history. You used to have to spend money on a publicist, out of home billboard or a large direct mail effort to get the word out. Now you have more inexpensive and free online marketing tools than ever including your website, Facebook, Twitter, email and more.
Go Forth and Coupon!
Businesses should always have an active coupon strategy to use across their distribution channels. It improves cost of acquisition and builds marketing assets that grow in value.
So what are you waiting for? Go forth and coupon!
This post originally appeared on the author’s website.
Trevor Sumner has spent ~15 years as a product and marketing executive for cutting edge technology startups from eCommerce and eBusiness in the late 90s to wireless Internet solutions to most recently consumer platforms and local, social and mobile marketing platforms. He founded LocalVox, a rapidly growing startup in NYC. He is an avid fisherman, a native New Yorker, and has scuba dived in all seven continents, including Antarctica.
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