As a local business owner who is looking to expand your market share, one of your most pressing tasks is to create outstanding offers to attract more customers to try your services or products. For many organizations, coupons are an ideal way to get the word out and encourage more customers to engage with them.
Consider that approximately 92% of consumers in the United States are using coupons when they shop, according to the latest figures from Statista. That shouldn’t be much of a surprise, since shoppers typically will be keeping an eye out for a bargain.
Consumers will also like coupons because they become fans of the company’s brand. Name recognition is a crucial aspect of coupon marketing. When people see coupons on a regular basis from a local business, the company looks more solid and dependable.
Since so many potential customers rely on coupons to stretch their budget, it makes sense to develop your own compelling coupons for distribution via Hometown Values.
The Highlights: What’s Important to Know About Making Compelling Offers
- Inflation is skyrocketing and a coupon offer will be more powerful than it has been in the past years.
- From eating in a restaurant to filling up your gas tank, everything is more expensive than in recent years.
- To help build your business, you need to have a strong offer, an incentive, a call to action.
- By making your advertising more valuable to customers, you can get a stronger ROI (return on investment).
- Examples of Compelling Offers to Promote Your Business
- Chances are that you’ve seen similar offers both from companies you know and new companies that are only getting exposure because of their special offers. Here are some examples to stimulate your imagination for promoting your business that you can start using today:
- BOGO: A “buy one, get one free” offer gives customers a chance to try you out while sharing with a friend, such as taking someone out for a sandwich.
- % off of a Sale/Product: Perhaps a potential customer has been leaning towards doing business with you. A new offer to get money off their next purchase may be just what you needed to tip them over to your side.
- $10 off a $50 Purchase: People love getting a bargain. Of course, you will set prices for your items that still deliver a profit, even if you are offering a discount.
- Time-sensitive Offer: The coupon is only good for this three-day holiday weekend. Such a timeline encourages shoppers to respond quickly before the offer disappears.
- Money-back Guarantee: This is a solid tactic that demonstrates your confidence in what you offer. The customer basically has nothing to lose if they try your product or service, since they will be reimbursed.
How Do You Determine What Goes Into Your Offers?
The ad should build value and provide a reason to buy today. It needs to have some urgency. Why should the customer buy now? Your offer should be simple and direct. People are busy and don’t have a lot of time to figure out the message.
A major consideration is timeliness. Correct timing of your offer is important because the customer needs time to be reminded about making purchases, such as for a holiday gift, a birthday present, or an anniversary.
When people are shopping for the holidays, this is an ideal time to promote an easy purchase they can check off of their list: gift certificates are great stocking stuffers.
Of course, gift cards make great presents throughout the year and not just for holidays. For example, Moola pointed out that 68% of birthday gifts are gift cards.
For human resources departments in local businesses, your offer can promote employee gifts, such as rewards for employee of the month, or give a present to all workers during the holidays.
If your offer has to do with BBQ (you sell barbecue sauces, or outdoor cooking gear, for example), you’ll want to craft your offer to launch it before summer starts.
What Can A Strong Offer Do?
Companies large and small can create captivating offers that will have customers calling for more.
With a strong offer that you test repeatedly for maximum effectiveness, you can achieve a great deal for your bottom line.
A strong offer provides a competitive advantage. This will bring new customers to your business as well as help retain existing customers.
Keep in mind that the more you can get your offer in front of people in print or online, the greater the likelihood you gain new customers.
Campaigns by the Numbers
Working with Adwise Marketing for your Hometown Values Advertising gives you access to a large population of consumers, with a circulation of approximately 560,000 and counting. The target market is homeowners, primarily women. With direct mail, you can deliver your coupons in 18 separate markets, from Cache County to Utah County.
The demographics reached through Hometown Values represent approximately $4.7 billion in spending power.
- 83% own their home
- Average household reached earns $77k
- Market value of homes average $314k
- The average age of the audience is 48, with 60% being women
- Average household size reached is 3 people, giving at least 3 times exposure to your organization’s coupons.
Getting Started With a New Promotional Campaign for Your Business
Offering coupons to drum up a new business can be a great way to cultivate a loyal customer base. Remember that a marketing campaign using coupons works best over the long term. Business owners can’t expect to achieve results quickly. That’s because repetition is key for driving home your marketing message.
But if you stick with it and pay attention to which versions of your coupons people use the most, you’ll be well on your way to increasing your market share. To learn more about crafting an excellent offer to your customers, contact us today.