There’s much more to a successful coupon campaign than simply creating and distributing your coupons and special offers to customers. Before launching a new campaign, ask yourself these questions and really think about the answers. If you do, you could greatly increase the impact your campaign has.
- What’s Your Objective?
You aren’t giving away savings just for the sake of it, so what is it that you’re hoping to accomplish? Generally speaking, coupon campaigns can serve one or more of the following purposes:
- Promoting new products or services
- Getting more business from regular customers
- Attracting new customers
- Increasing traffic during slow periods
Knowing what you want to get from a campaign before it launches can help you plan every other element. Settle on a goal and think about how to best work towards it. For example, if you simply want to encourage loyal customers to come back more frequently, you could give them a coupon when they spend $30 or more. It gives them a strong reason to come back, plus it encourages them to spend a minimum.
- Who Are You Targeting?
There are many different approaches to distributing coupons, but their success can vary depending on who you’re trying to target. An older demographic may be more comfortable with traditional paper coupons, whereas a younger, more tech-savvy crowd has shown a growing preference for digital coupons. In either case, there’s also delivery methods to consider. Mass mailers? Printed on receipts? Email lists? Social media?
- What Statistics Are You Tracking?
The most accurate way to determine where a campaign is strong and where it falters is to keep track of it through data collection. Checkout systems used in brick-and-mortar retail outlets record when a coupon is redeemed and the type of discount it provided. A custom coupon platform like Octopon takes this a step further, collecting information about online customer engagement, how quickly coupons are redeemed, how many are redeemed and other statistics that can be used to determine what’s working well and what needs to be changed. Octopon’s analytics tool even makes industry-based recommendations for your campaigns. It’s the easiest way to gauge your campaign and improve future decisions.
What truly separates successful coupon campaigns from those that fall short is preparation and a willingness to pay close attention to it from start to finish. Establish what it is you want to accomplish, who your audience is, and how you can get your coupons to them. Charting your success in these three areas will serve as a guidepost for future campaigns.
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