As more and more things in our lives go online and digital, it is important that our businesses keep pace with the updates in technology and marketing in the world. One of the trends that have appeared in the use of digital coupons over traditional ones.
Let us explore this topic and discover how you can use them in your business.
What is a Digital Coupon?
A digital coupon is an online or “virtual” version of a traditional coupon. Like its traditional counterpart, these coupons give customers offers, discounts and can be used to increase foot traffic to your store as well as boost sales. They can be distributed online or through mobile. You could ask consumers to bring print outs of their digital coupons to be redeemed or you could assign unique codes for each coupon and cross-check their validity during the redemption process.
What are the Channels of Distribution?
1. If you have a mailing list or are trying to drum up engagement on your social media channels- digital couponing is an excellent way to reward your customers for following your business. This way you can grow your database while offering your consumers something extra special in order to seed your sales during a lull period
2. Create a Monthly Push Email to your users: Send your users an email with different offers each month highlighting a new product or boost the sales of a product that was previously popular by creating a specific offer for that product in your newsletter
3. Try a Mobile Campaign: SMS is a great low-cost way of reaching out to your consumers through Digital Coupons. Though, ensure that you use a registered telemarketer for your campaign for as the Telecom Regulatory Authority of India or TRAI has strict guidelines and fines in place in case your telemarketer is not one registered with them
How to effectively Market your Digital Coupons As with all your marketing efforts, you will need to focus on the best strategies to get your coupons accepted and redeemed by your consumers, here are a couple of guidelines to follow:
• Create coupons with great visual appeal. Just because these are online versions of coupons doesn’t mean that you should not focus on the visual appeal of your coupons. Like traditional coupons the more attractive the coupon the more likely it is to grab attention and be redeemed
• Target your Consumers: Do not send a bulk coupon push to all the consumers on your database. Study their behavior patterns, figure out when they are more likely to redeem the coupon and use technology like GPS to target consumers based on their proximity to your store
• Look for a Marketing Partner: You could partner with a firm or individual who has more experience in the distribution and can read consumer behavior making your digital coupon strategy well-tuned
• Create a Referral Program: Ensure that people beyond your database hear of your products and services. Incentivise and reward these referrals so that more people refer their friends and family increasing the reach of your business and helping it grow