Coupons are a great way to get new business and remind old customers to come back soon. Just be careful not to offer coupons on the same types of items or services too often, or your regular price will mean nothing. People will know that if they wait a little longer, they can get a coupon or discount, so why buy now?
Your coupon offer should be easy to understand, have an expiration date, and include your business name, phone number, and location. Make your coupon contingent on a purchase, such as 50 percent off a purchase, $5 off a purchase, or buy one, get one free. And remember that the savings or deal must be of value to customers, or they’ll just ignore the coupon.
Coupons can be business builders. You can use them to get people who might not otherwise find you to try your products or services. The hope is that they’ll like your product enough to come back and buy it again without a coupon.
Tons of coupons are thrown into the marketplace all the time, but the redemption rate is usually less than 10 percent. Some people are fanatics about clipping and using every coupon they see, whereas others would never use one. But regardless of whether your consumer uses your coupon, it still brings attention to your store and products. It’s up to you to decide whether and how often coupons can work for your store or on your website.