The use of discount vouchers as a form of advertisement to businesses is becoming more popular in the recent years as it proved to be an effective way to attract more potential clients and consumers.
There are different types of advertising. Voucher advertising or promoting one’s business through discount vouchers is making its way in the market as consumers love attractive deals and encourage them to buy the product or to try out the service. Below are the top ten benefits in using discount vouchers in advertising.
1. Everyone loves discount vouchers
The use of discount coupons in promoting your product or service can largely benefit your business as people are attracted to deals and discounts. Discount vouchers can drive more sales.
2. Discount coupons are easy to promote and distribute
There are different ways where one can advertise the discount vouchers to make it more accessible to the potential consumers. There are websites that can advertise the vouchers cheaply and, sometimes, for free.
3. Discount vouchers are flexible
One of the characteristics of discount vouchers is they are flexible. Businesses can customize the percentage of the discount as well as the time period of the promo. Discount vouchers are extreme versatile.
4. Increase profits and average order value
It is a wrong notion that businesses earn less when they are giving away discounts. The truth is businesses can earn more profit and increase average order value through discount vouchers. Since coupons are flexible and businesses have control over the mechanics of the promo, they can manipulate that the vouchers can be used only after spending a particular amount. For example, consumers get 10% percent off on the price after one spending over $100 on selected items. Based on research and experience, consumers tend to spend more when they use discount vouchers thinking that they save money.
5. Acquire new customers
Using discount vouchers can help businesses to attract new customers. Businesses may be reducing their margin but will be paying an acquisition cost in the form of a discount. Providing the right offer and using the right form of advertising, attracting new clients can be a breeze for businesses. People are attracted to try out new products and services when they think that can get more value from their money.
6. Retain existing clients
Aside from attracting new clients, discount vouchers can also help businesses retain their patrons. Discount coupons are great for retention. Returning customers are very important to businesses since it keeps the businesses running.
7. Hit target sales
Most businesses use discount vouchers to save flagging sales and to hit target sales. Consumers are attracted to buy products when discounts are available thinking that they can buy more products with less money.
8. Clear remaining inventory
Businesses usually give out discount vouchers when they are clearing old stocks. One way of still gaining profit from low selling products is to give them away at a discounted price.
9. Promote high margin products
It is inevitable that there are some products that are quite difficult to sell and give businesses barely a profit. Thus, offering a discount voucher can promote these type of products and will bring them to the best margin and will increase their profitability.
10. Appease angry customers
There are instances that people make mistakes, even businesses and their employees. Sometimes, wrong items are sent to the customer or food arrived later that yield to disgruntled consumers. One of the effective ways in appeasing these angry clients is to offer them discount vouchers amending the inconvenience and will largely help in retaining these customers.
