There are extensive options of sales promotional options provided by modern-day marketing, from a coupon marketing strategy to a plain old promotional event. However, how do you know which is best for your business?
Also, for small businesses, the cost of a sales strategy is as significant as the offer itself. Understandably, here at FirstOrderCode, we do not dabble into promotion ideas that will cost us more than what we have to gain. While focusing on profit, you have to ask yourself, will you earn more than you are about to invest?
Thankfully, we will only be going through cost-effect strategies that will put your competitors in the ground for good. Whoa, slow down tiger. What happened to the spirit of sportsmanship? You can crush the competition, but don’t just go around putting anyone in the ground, okay?
We will be working our way through some options, and then we will go to our pick. Specifically, the one we think will work for you the most as a growing business.
Promotional Options for Small Businesses
These are some examples of sales promotion to consider for small businesses:
- Free samples,
- Buy one and get one for free,
- Online coupons,
- Clearance sales,
- Flash deals,
- Incredibly low price offers, also known as a tripwire.
Everything is pretty much self-explanatory, and every single one is doable for small businesses. In terms of cost, nevertheless, there’s little to no risks when you offer online coupons and that’s why it’s our number one pick. Sure, free samples may be more convincing to customers but there are some risks involved.
The goal is to improve conversion rate, and with online coupons, there are so many ways you can package the offer that makes it feel new every single time.
Step by Step Instructions
There are many benefits of coupons for customers and sellers alike, making online coupons a very thoughtful promotion strategy that shoppers always appreciate. Nonetheless, just dashing out online discount codes doesn’t guarantee success. Like every approach in business, a coupon marketing strategy must be rightly executed. How do you get started?
- Have an online store.
- A coupon code provider.
- A professional coupon campaign designer.
About 65% of Canadians prefer to shop online. That’s 65% more customers for you when you create an eCommerce platform. With platforms like Shopify, creating an online domain to your taste and for your business is easy and very affordable.
The reason why you need a coupon provider is to have a voucher management system that allows you to management voucher campaigns. Coupon management networks come with advanced tools that will enable you to track all online coupons and analyze data obtained from the vouchers’ activities. With such valuable information about your customers or potentials, you can re-strategize to something that works.
Online shoppers buy with their eyes, so you need to design something fascinating. A poorly designed discount code campaign could result in a low conversion rate. On the other hand, an excellently designed coupon offer provides the desired result, comfortably.
What is the best coupon marketing strategy, and how can you continuously remind people of the benefits of coupons for customers? Here’s a list of the best campaign ideas for small business in a stepwise fashion.
- Step 1: Product-centered online coupons; includes, first-time purchase coupon discounts, multiple purchase coupons, price target coupons, and product-specific coupons.
- Step 2: Sign-up or registration voucher.
- Step 3: Store anniversary coupon discount.
- Step 4: Customer’s birthday discount code offer.
- Step 5: Compensatory online coupons for support or performance issues.
- Step 6: Event online coupons, like customer’s profile completion or update, first completed order.
- Step 7: Loyalty reward and social media sharing online coupons.
What media can you use to get online coupons to customers?
- Email offers; 27% of customers prefer this approach.
- Newsletters; preferred by 12% of online shoppers
- Social media; according to Instagram, over 200 million customers check at least a business profile per day, while 60% of users discover new products on the platform.
- eCommerce website special offers.
We are big fans of voucher codes because we know the benefits of coupons for customers and the marketing strategy of any business. To kick start your coupon marketing strategy, start selling online, hire a coupon management system provider, and get a professional graphic designer. Pick the best coupon marketing strategy that works for you and deliver the vouchers through the most effective channel for your business.
Here at FirstOrderCode, we are committed to aggregating vouchers and mega deals from all your favorite store on this website. From staples.ca coupons, Canadian Tire discount codes, and Hudson’s Bay promo codes to Wayfair Canada vouchers, Walmart Canada coupons, and Home Depot’s Canada coupons, we leave no stone unturned. Just search for the name of the store you search for and voila, you can start saving.