Everybody loves coupons. You are missing out if you are not including coupons in your marketing strategy. You’ll be surprise how your competitors are capitalizing on this strategy without you knowing (which is to their benefits). Go to any search engines such as Google, Yahoo or Bing and type in the keyword coupons, the first page is swamped with coupons information website.
Traditionally, brick and mortar stores and large chain restaurants have been using physical coupons for a long time. To drive sales in this tough economy, it is even more important to use coupons to boost sales and to meet target. This is the same with online business, in fact, it’s even more important since buying on the internet and doing price research is ultra convenient. Statistics have shown that online traffic to coupon sites have drastically increased by a shocking 30-plus percent per year. When consumer think of buying a commodity, their most important factor is price and coupons helps reduce the price of the product they wish to buy.
It is also a psychological thing where the consumer feels they have gotten a really good deal and it gives them the feeling of being treated as special. The consumer would be thinking if I hadn’t used this coupon, I would have to pay 10% more than I would be paying now. Now I have saved 10% of whatever the sale is and I could use that to buy something else.
If your e-commerce shopping cart/system isn’t already supporting coupons functionality, you might want to consider switching to one that does have this function or talk with your software developer to find out the possibility of implementing it. You can couple your coupons strategy with your email newsletter strategy. It will help boost the email open rate and certainly increase traffic and sales.