re-inventing the coupon model

Re-Inventing The Coupon Method

Presented by Marc D. HorneBlog | FB | Twitter | Email

My name is Marc D. Horne.

Welcome to the Daily Deal Builder Members Training!

If you have questions, type them in the questions box or if you are not watching this live you can always reach our team here: support@hcdesk.com

Advertising mediums change often; solid marketing strategies

are timeless.

In 1887, Asa Candler implemented a game

changer for Coca-Cola…

That’s just the first documented case…

The human desire to get a great deal and receive more value than we pay for is nothing new. Likewise, businesses have always, and will always, offer some form of promotion to

bring new customers in the door.

Benefits to a Merchant of Running a Coupon Promotion…

• Increase Number of New Customers• Increase Sales of a Specific Product• Increase Branding & Awareness• Reward Current Customers• Entice Return of Former Customers• Create An Opportunity to Up-sell a More Profitable

Product• Highly Measurable & Inexpensive Form of Marketing

The old way…

Pull out your scissors and open up the coupon books, newspapers, magazines,

etc.

Technology has changed the way we get deals…

Just like Coca-Cola, the businesses utilizing coupons and daily deals

must be confident in their product or service so they can take an

initial loss in order to grow new fans.

Daily Deals are essentially coupons that are offered for a

limited time, typically for only one day, hence the name daily deal.

Often times, the customer can simply download the coupon for free; other times they pay for the

coupon in advance and simply redeem them before they expire.

The only businesses who should offer coupons and daily deals are the ones who are proud of their

product or service, and know that they can turn one time users into

repeat customers.

To do it correctly, the business must not only be confident in their product and service, but

properly follow up and encourage the daily deal customer to

become a loyal fan.

What do we know?

We know the “idea” behind the daily deal works. People are more

likely to make a purchase when there are time limits and scarcity

tactics in play.

We know that the majority of people enjoy getting a great deal or discount, right? We also know that people have been bargaining and trying to get deals on all sorts of items since… well, since before

our time...

We know that the internet and smart phone devices have made consumers wiser and given them

ability to research companies and search for deals and

coupons while on the way to the merchant’s location.

So how do you YOU make money by getting a business to run a

coupon promotion on your site?

Downloads and/or Redemptions

Downloads & Redemptions

Need to make sure the business is a good fit to run a coupon

promotion…

Are Coupons a Good Fit for Your Merchants?

• Coupons are really another form of marketing; in themselves they are not money-spinners. Concentrate on using them to build awareness of your business among new markets and to new customers. From here you can hope to up-sell and generate repeat customers.

• Coupons tend to work best for location-based, product-oriented businesses where local customers can realize quick and easy savings.

• Can your business scale to meet the potential demand that the coupons may trigger? Whether you operate online or are a location-based business be sure that your staff is trained and your operations can scale quickly and seamlessly to deal with the new foot traffic.

• Make sure you can afford the discount for the duration of its validity. Weigh up your long term goals and how coupons can benefit those goals. Do you have enough profitable business coming from other product lines or time periods to supplement the cost of offering a discount or special offer?

Building a Successful Coupon-Based Campaign

• Look at the numbers and help the merchant decide on the level of discount they can handle. How long should it run for and what changes does the merchant need to make in order to implement and support the offer.

• Put limits around the offer to help merchant cope with demand. Consider limiting redemption to certain days of the week or times of day and be clear on exclusions (e.g. dine-in only and alcohol exclusions).

• Put in place a "one offer per customer" policy so that customers' can't share or re-use the same coupon.

• One-off coupons have a place but aim to promote repeat visits. For example, buy X and get Y free on your next visit.

• Focus on shifting excess inventory or promoting under-utilized services.• If you can, focus on new customers outside your current market or

demographic.

Building a Successful Coupon-Based Campaign

• Have your merchants use coupons sparingly - you don't want regular customers to think that they are being gouged when they see how much your merchants are willing to discount to gain new customers. Another problem the business may encounter by too frequent discounting is that customers will delay patronizing their business until the next deal.

• Market your coupons through multiple channels including your Facebook, Yelp, or Google Places page; on your website homepage; in local newspapers, clipping magazines, and so on.

• Track & Provide ROI – Have businesses ask customers where they found their coupon and use web-analytics to track the use of coupon codes and online banner click-throughs.

A few quick reminders…

Always continue focusing on building your audience…

Piggy back and leverage existing merchants, run contests, run

paid Facebook ads with Google Remarketing, and do a blog post

with your offerings for SEO purposes.

Printing stickers and guerrilla marketing techniques.

Visit us on the web at: DailyDealBuilder.com

Questions?Email support@hcdesk.com to learn more, ask questions, or schedule a

demo. Thank you for joining us. Have a great day. Make 2014 HUGE!

Presented by Marc HorneBlog | FB | Twitter | Email