Coupons: Powerful Strategy for Customer Loyalty
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Thread: Coupons: Powerful Strategy for Customer Loyalty

  1. #1
    Join Date
    Jul 2017
    Location
    Indonesia
    Posts
    103

    Lightbulb Coupons: Powerful Strategy for Customer Loyalty

    Do you understand what that is?

    Coupons are everywhere. This ancient, yet powerful strategy is the answer to get your really first customer. Whether you are still small or already have huge business on hand. This promotion strategy is promising.

    Coupon is not only used by the offline business. This kind of strategy also applies to your e-commerce website or other platforms of online business. Perhaps if you are a fan of some social media influencer, they will give you a lot of coupons for their endorsement product like almost every single day. You named it. Instagram stories, posts, tweets, and other platforms posted their coupon to the prospective customer.

    Coupon is pretty much related to discount and free product. I mean, who doesn't like a free product? In the early 20s, perhaps we will try to get a lot of coupons (the printed one) to buy anything we want (or don't even want) in any market. A little magical, yet persuasive words and this free paper could lead you straight ahead to the cashier. The coupon is also enticing you to become a recurring shopper.

    But if you still don't believe that, maybe I can explain it a bit for you.

    Do Business Really Work That Way?

    If you are a new start-up guy, then this strategy could be an option for you. But the main point is that the coupon is not for a short-term goal. So you will have to sow your seed first for a period of time and will reap that off in the future. This is definitely a long-term one. Therefore, patience is the first word you should keep in mind.

    This long-term stuffs also related to brand and product awareness. As I said, if you are a new guy in this huge sea, then the coupons will help you to entice them. At least your customer will know that you are there. Secondly, if you want your buyer to become a recurring shopper, then a train of coupons are needed. A repetitive transaction will surely make your customer addicted to your product or even your brand. And that is the moment your customer loyalty comes.

    The most asked question is, "Is it worth it?"

    My answer is yes. Coupon is profitable. When the printed one could make you some profit from the manufacturer based on your coupons usage, now we can do something better. Digital era provides us more options to choose. Even for this coupons strategy as well. But before that, I need you to know every risk you will encounter if you want to make this become the part of your business plan.

    This takes more money than you think. Every strategy has costs. So it's better to observe and understand your standpoint. Maybe you have many resources. But if you miscalculate this one, this could lead you to the abyss. So do the math or make someone do it.

    Secondly, your competitors also could use this strategy to beat you up. In fact, it's not only about the coupon itself, but also about how you present and give your coupons to them. This is your next homework if you are already decided to use coupons to make the customer loyalty.

    Things to be considered

    I think these are related variables about coupons that need to be considered by a start-up guy:

    • New products: If you are having a new product, you can use a limited amount of coupons to attract your customers. In term of consumer behavior, limiting something valuable is part of the strategy to make them redeem the coupons and try your new products.
    • How well the customer knows you: Endorsement is one of the best and famous way to promote coupons to your customers. Nevertheless, this could harm you when you choose a bad public figure. That's why you need to reconsider about what kind of influencer you need to present your coupons. Are they famous? Worthy enough? Is it effective, realistic, and efficient? Think about it.
    • Moments to give your coupons: Perfect timing matters. When you give your coupons to your customer on Black Friday, Christmas, Boxing Day, New Year, or even your customer birthday, this could increase your chance to make your coupons get redeemed.



    In this digital era, since we have modern technologies, we no longer use printed coupons. Digital coupons are way cheaper and eco-friendly (no more papers). And I think you should know this as well. Since this could lead you to prepare your tools for the battles ahead and make a better selling. No need to count it like old times, because you can use an analytical program like Google Analytics or something like that. So it's also easy to use.

    Options To Get Customer Loyalty

    At least there are 4 types of the coupon in the online business platform I could share. Let's take a look!

    • Downloadable coupons: As the name said, this coupon makes the customer download in the first place and redeem it.
    • Mobile coupons: If you already have an integrated website-application e-commerce platform, then this would work well for you. These coupons not only make them buy your product but also give them experience about using your application. So this is a win-win solution if you want to increase your download traffic.
    • Coupon codes: This one is the most famous digital coupons. It's easy to use and use the unique code to redeem. For example, "All orders over $100 get free shipping charges. Use this coupon code: FREESHIPPING
    • Automatic discount: "Having trouble with download error or coupon codes? It's okay, we already cut the price for you." This automatic discount is the most friendly method for any customer you have.



    Or maybe, if you have a brilliant idea to make a new type, then that is your competitive advantage to win the battle. Because innovation is important to run any kind of business. But the point is that coupons absolutely give you an opening to make customer loyalty and make your business grow bigger.

  2. #2
    Join Date
    Jan 2018
    Location
    Florida
    Posts
    13
    These are some great and valid points. I'd like to add something more here that I use for my dropshipping store.

    I make my coupons scarce and exclusive. For instance, an exclusive coupon for my Instagram followers. This feeling of exclusiveness makes them feel special to be a part of your community and entices them to use your coupon.

  3. #3
    Join Date
    Mar 2018
    Posts
    2
    i think loyalty is all about quality..all other strategies for customer loyalty should consider this

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