1. Retain old customers and attract new customers
Issuing coupons for customer to purchase can help enterprises to retain old customers as well as attract new customers. The majority of customers tend to always use coupons when shopping to save more and be able to shop more aggressively. Understanding that mentality, business owner need to take advantage by providing similar quality products at much lower prices in the form of coupons or offering privileges that customers can hardly refuse.
If you always give away coupons, customers will tend to visit your store more often and purchase more items. Conversely, if your store does not offer a coupon, consumers may turn to be interested in similar stores who often held coupon programs.
6. Enhance the consumption of nearly-expired / outdated products
Products with only a few months expiry date should be disposed of as soon as possible to prevent economic losses when they can no longer be consumed or used safely by customers. Coupons can save businesses from having to destroy expired inventory products after they expired. Products that are about to expire in shelves are often sold at much lower prices or sometimes be given away for free to customers. This will help businesses to attract customers without affecting the budget, and without affecting the safety of consumers. As can be seen, coupons in such these form will help them to accelerate sales to produce new products.
7. Reduce advertising costs
There is another benefit of coupon that it is utilized as an extremely effective form of advertising for your product or business. Business owners often have to spend a great deal of money on advertising on such platforms as ads on TV, internet or banners. However, they still can take advantage of coupons as a form of cheap but extremely effective advertising. All you need to do is print the business name, address and other important information that customers need to know on the coupon. Through it, your business will have the opportunity to reach a large number of customers more quickly and easily.
8. Easily identify potential customers
Once consumers are asked to input their name, address, contact number and personal information needed on the coupon to use them, the business owner will be able to easily identify and classify customers as well as the region where the majority of customers come from. This will play an important in providing business owners with a consumer database and help them to easily determine which type of product is suitable for the specific location. Moreover, it appears to be among the most important bases for businesses to expanse in the future, where they can target directly to a significant number of potential customers.