Many small business owners are under the impression that voucher marketing requires a big investment. In this article, Alex Papaconstantinou of UK voucher site www.wikigains.com shares a number of good tips to market your business with vouchers and still remain well within the boundaries of a shoestring budget. In fact, he shows you how you can start your own coupon campaign and never have to pay for more than the value of the paper you’re printing them on.
Here are five voucher marketing tips local businesses can use to get the most bang-per-buck out of their printed coupons.
Pick your demographics carefully
Before you start sending out thousands of paper vouchers blindly take some time to do some research and planning. Picking the right mailing list can save you hundreds of pounds in postage and distribution costs. For an even better results make sure that your mail is targeting people who could be interested in your products, as they are the most likely to convert your vouchers into sales. I have often seen media companies distributing vouchers for the local pizza restaurant and the local weightloss group. When I see that I know that at least one of these vouchers will be wasted.
Take advantage of checkout marketing
Your store is the one place where buyers, money and your products come together in one spot. So, what better place to offer your coupons than in your own store? A good tactic used by many of the large retail stores in the UK is to integrate a time-limited coupon offer in the receipt of purchase. For example, “Save 30% off in your next purchase. Valid till end of the month”. Not only are you rewarding the purchase but you’re also creating the potential for a new purchase in the near future. Receipts can also include digital codes, which are vouchers that can be redeemed in the Merchant’s website.
Share advertising costs with other local businesses
Marketing can be expensive at times, so why not join forces with neighbouring businesses? Creating coupon bundles with other local stores will not only save you money but also allow you to benefit from the increased presence of potential customers in the area. Better yet, go the extra mile and start sharing mailing lists or sell products and services that complement those of your marketing allies.
Leverage on word of mouth
When it comes to marketing nothing beats the effectiveness of word-of-mouth. So, why not give your buyers something to talk about to their family and friends? By offering discount coupons and vouchers to your loyal customers you’re multiplying your brand’s exposure, as your good prices will become the topic of discussion of many informal conversations.
Join a professional association
Many business and trade associations offer a variety of discounts and deals to their members. By becoming a member of a professional association your business’s discounts could eventually be advertised in the association’s newsletter if they’re deemed to provide valuable services to its members.
Whether you use one or all of these strategies, effectively implementing them will help you reduce the costs of marketing your paper vouchers while also increasing your sales significantly.