The biggest con of using coupons is that they cost you money. Any discount you offer will mean less money in your pocket. The key is to calculate whether that discount will make a difference to your profit margin by introducing new customers to your store or bringing back old customers who may have gone elsewhere chasing other coupons.
Even your regular customers can get in the habit of waiting for coupons, which cannibalizes income that was already being generated before you introduced the coupon program. So you need to consider when and how to offer those coupons to avoid impacting your regular customer base. Coupons will always result in reduced profits on the item or items included in the coupon campaign, but the cost of purchasing that product will not change. When considering the value of a coupon campaign to your business, you must find a way to determine if the discount will end up improving your bottom line in the long term.
We talk more about how to use a coupon campaign strategically to grow your business below. The pros of offering coupons include introducing new customers to your store, introducing new product lines, providing a way to get rid of unwanted inventory to make room in your warehouse or store for newer product, encouraging customers to try a new brand that is more profitable to you or getting customers to come back to your store.
Coupons can become a crucial part of your social media marketing provided you use them strategically. For example, one of the best ways to turn coupons into a long-term marketing strategy to encourage repeat customers is to require them to provide their name and email address in order to get the coupon. That way you can build an email marketing base to encourage their return when offering new products or for other marketing campaigns.
If your coupon is not an online coupon, require them to give their name and email address to use the coupon at the register. That gives you a way to communicate with them long-term for free using your Facebook or other social media website. You can also create discount offers directly through Facebook. When planning a coupon strategy, think about how you want to use that strategy to improve your bottom line. For example:. Coupons will drive business to your store.
The key is to develop your coupon strategy so you know how that discount marketing strategy will either increase your long-term repeat business or increase your sales per customer.
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I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Business Marketing Essentials. Article Sources. Unfortunately, there is not one blanket solution that will cover all problems, but there are a few things to try if you are experiencing coupon printing problems.
Many people experience issues when trying to print "bricks" coupons, which are coupons that go to a link that looks something like this:. The reason a problem may occur is that the bricks coupons are browser sensitive.
That means the browser being used, when going to the bricks web page, has to be compatible with the actual bricks coupon link that is accessed. The good news is that for most online browsers, there is a fix that will help to solve the problem. Read on for browser-specific tips.
Here is how to adjust the links to match your browser. The following link is the primary example:. If you use Internet Explorer as your primary browser and you have trouble printing a bricks coupon , you can change the actual link URL so that it is compatible.
The entire link would now look like this:. For example, if you are using Internet Explorer and you click on a "bricks" link, and your printer seems to hang up and not print, look at the link and see if it has to be changed.
Example: If the link looked like this:. It is set up for those using Firefox. You will need to change the "wg" to either "wi" or "vi" to print the coupon. If you are still experiencing problems, try downloading the program used to print the coupons again and then rebooting your computer.
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