What is Retail Coupon Marketing?
In Retail Coupon Marketing, retailers offer digital coupons for their target or prospective customers. This marketing strategy is aimed at persuading the customer to make a purchase on the retailer’s website by offering a certain percentage off their purchase, free shipping, or a special type of promotion.
How Can Retail Coupon Marketing Help My Business?
Incorporating Retail Coupon Marketing into your business’s strategy allows you to take advantage of your customers’ interests. In the end, we all want to save money, and presenting your products to consumers for less than the retail price will attract more buyers and boost your sales.
One disadvantage that could happen for your business is that coupons can cost additional expenses for creating them and may reduce the overall profitability your business would bring in for that specific product. Sometimes the risk of cart abandonment is higher. A key takeaway for this is to analyze the difference between new customers and existing customers returning to the store to use the coupons.
However, there is always light at the end of every dark tunnel! Even if profit margins might be lower due to utilizing coupons, you run the chances and opportunities to increase your lead generation rates and bring more long-term customers into your store. When this happens, your businesses’ sales will be higher than before due to your larger clientele. The famous saying, “You have to spend money to make money” has never been truer until now.
Physical Paper Coupons vs. Digital QR Code Coupons
I think we have all been there when a few coupons are printed out at the grocery store, and the next day you cannot remember if you put them in your purse or threw them away with the grocery bag.
A Printable Coupon is recognized as a physical gift card (Amazon, for example) that can be sent to your family and/or friends during special occasions. A Digital Coupon is any discount, offer, or promotion that is offered by an online retailer to current or prospective customers. They come in different forms, including downloadable coupons, mobile coupons, coupon codes, and automatic discounts. Growing by popular demand, digital coupons have become one of the leading methods for using coupons in the online retail world.
Sometimes, maintaining a track record of print coupons can be a hassle, making it less accessible to customers. In 2020, about 90% of customers used coupons, with more than half of them preferring digital coupons on their phones and 68% of customers believing digital coupons create more loyalty.
The Benefits of Digital QR Code Coupons for Retail Marketing
Remember seeing those interactive white and black code boxes we use our phones to scan? Of course, you do! QR codes are used to link to a website’s landing page so you can either see a restaurant’s menu, certain products, or promotional coupons. Retailers benefit from this marketing strategy because they allow their customers to have information in the palm of their hands, and all they have to do is scan a simple barcode. As an added convenience, QR codes are easily accessible, environmentally friendly, minimize waste, and can simply be stored in your phone whenever you need them.
Our Customized Product Q-Pon Revolutionizes Retail Coupon Marketing
To get the process started for your Coupon Marketing needs, we offer an exclusive customized product, “Q-Pon” which transforms your digital retail program by overhauling your coupons and specials page to make it accessible for customers to grab and go in just a click of a button. After seeing how much retailers are struggling with finding a unique design and approach to their marketing strategy, it’s time to do something different.
By combining advanced, data-driven SEO, SEM, and social content for marketing campaigns, it targets surrounding local target areas and users in smart intervals. Just think of it as a one-third web design service, one-third Search Engine Optimization (SEO) service, and a one-third digital e-wallet functionality. No matter how small or large the job is, Q-Pon provides a one-way, easy access for your sales to get the boost it needs.
For a free demonstration of “Q-Pon”, click here to learn more!