Most people think coupons are just ordinary discounts, nothing more. Look closer! Coupons help marketers grow market share, increase sales volume, sell faster, cultivate loyal customers, and drown out competitor advertising.
GENERATE REPEAT BUSINESS
Coupons can encourage consumers to make a repeat purchase. Offer a discount on their next purchase, and you will be at the top of their shopping list.
Coupons can accelerate repeat purchasing behavior. With a time-sensitive discount offer (a coupon with an approaching expiration date), consumers will buy more product, faster.
INCREASE CONSUMPTION RATES
When a coupon reduces the cost of ownership, consumers become willing to buy more of your product, faster. They recognize the value and are more willing to use your product. They become less concerned about waste and more interested in value. Marketers end up selling more in a shorter period of time.
BLOCK COMPETITOR MESSAGING
Your competitor may have pretty packaging, funny ads, and any number of other desirable traits. But a coupon offers a discount, a.k.a. money in pocket, and that can drown out all of your competitors’ hard work.