Coupons offer a number of benefits for today’s businesses. Not only do they influence the customer purchase journey, they have the ability to drive brand awareness and increase customer loyalty, resulting in short-term and long-term ROI.
Additionally, coupons are regularly sought out and used by customers, making incorporating them into a business strategy a win-win scenario. Below, we’ve compiled some of the main benefits of integrating coupons into your marketing and profit strategy.
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Increased customer loyalty: According to research from ReadyCloud, 68% of customers say digital coupons build brand awareness and generate loyalty, meaning they’re a great tool for businesses with regard to cultivating long-term customers.
- Increased average purchase amount: While the initial idea of lowering prices may be jarring, research has shown that coupons actually influence customers to spend more. A study by Kelton found that 38% of consumers say they’re more likely to treat themselves to something they don’t need if they have a coupon, and 25% say they’re more likely to spend more than normal with a coupon.
To help you get started incorporating coupons into your overall business strategy, Wikibuy outlined 29 ways you can use coupons to drive purchases, including who to target and how to grab their attention. Check out all their tips in the infographic below.
