Marketing Promotions That Work
The coupon has a long and successful history. To hold a piece of paper that turns into actual cash at the checkout register is a powerful motivator.
The coupon is starting its second century of existence. It all began back in 1895 when the man who concocted Coca-Cola in Atlanta offered the public a coupon good for 5 cents off his new soft drink. The tactic worked, and look at the company it helped to create.
Today, coupons help move literally thousands of products into people's homes. Coupons are so common that there can hardly be a single person in the United States who is unaware of them. Coupons seem to be everywhere and the list is growing.
There is even a secondary market for coupons. Companies are built on the transfer of coupons before and after their actual use. And some Sunday newspapers proudly advertise (above their mastheads) the dollar value of the coupons contained within the paper.
People are reluctant to throw coupons away. The cash value is printed directly on the coupon, and it is extremely difficult to dispose of cash.
Working with coupons.
Keep your thinking clear on the use of the coupon, and that is to motivate people to do something. Coupons can be used to get people to buy more of your products if you are a retailer. Or they can be used to introduce new customers to your products.
Considering coupons as gift certificates can be useful. This can spur your thinking to devise other uses and avenues of distribution of your coupons. A coupon/gift certificate for $10 offsome product/service normally priced at $100 will be much more effective than advertising a 10% discount.
Coupons and the media.
There are many print media ways to place coupons in the hands of the reading public. Newspapers, magazines, telephone books, restaurant placemats, special mailings, display racks, even the backs of cash register receipts have been used effectively.
Radio, television and the internet present obvious difficulties in using coupons. But don't overlook the powerful motivation a coupon or gift certificate can bring to your use of these media.
How about a fax-back coupon, or a mail-back coupon, advertised on any of these?
Special coupon ways.
Think of ways you might use coupons that enhance the things you already do. This will add value to your existing promotions. If you send acknowledgments, or "thank you" letters, or follow up with customer service questionnaires, consider adding a coupon or gift certificate to spur additional inquiries or sales. Add a coupon/gift certificate to the literature you distribute brochures, newsletters, product bulletins, special mailings.
All these are opportunities to place a coupon/gift certificate in the hands of people you want to respond. A brochure gets your story told, but a coupon motivates a response.
Coupon tips.
If you have never used a coupon, you might not be aware of actual format. Coupons should be clear, concise, specific and be designed with the reader/user in mind.
The actual dollar amount should be prominent in order to motivate. Remember: dollar amounts work much better than percentage "off".
Expiration dates can also motivate. A coupon that expires in two weeks gets my attention much more positively that one that runs two months. Motivation appears to be inversely proportional to the length of time.
Of course, expiration dates must reflect the medium that is used. A coupon in a daily newspaper can have a short expiration date, while one in a telephone book should last the life of the book.
A coupon in your quarterly newsletter should probably expire around the time your next issue is printed. But a coupon in your brochure might be good for a year or so.
Specially-printed coupons/gift certificates can be included in your mailings to your customers and clients. These can have a life measured in a few weeks to enhance effectiveness.
Reprinted with permission from Al Warr
