Successful marketing through coupon websites
Did you know that ebay laptop deals can easily be marketed by use of coupon websites? The following are tips to market successfully through such websites:
Select the correct product to be discounted
When picking the product to be offered on coupon, it is suggested that you:
- Select one which has a high profit margin to enable you to have discount room without having to take losses which are unsustainable
- Avoid to offer products which have a lower margin on profit or are quite popular which are likely going to increase the losses on discounts.
- Avoid to discount your premium services or best products which might damage the brand or your sale for full –price in the long run.
- There are certain experts that suggest that businesses which are established should utilize coupon sites in clearing superseded and old stock, or when launching a new service or product
Targeting the right customers
You need to ensure that you think carefully regarding whom you would wish to attract when you launch the coupon offer. In case you are discounting an everyday, popular product, you will likely get bargain-hunters who at the end of the day, might not become repeat customers. You are better off if you discount products with a high-margin that appeal to the small group.
Also you might not want your existing customers to utilize the coupons generally because it is going to eat in your day to day sales. For that to be avoided, there are businesses which indicate that the coupons are for new customers only.
Maximize your profit, minimize your losses
Most businesses do accept to have financial losses as trade-of on coupon for attracting new customers. But you can be able to minimize the losses on coupons through:
- Setting the minimum spend before a discount will be given
- Limiting the coupons numbers which can be redeemed by a single household or customer
- Limit an offer to the number of participants that redeem their coupons
There are certain businesses which might make profits on a coupon offer. If your costs are fixed or low, you might increase the number of customers without having to increase the material costs or staff.
An example is where a museum runs a coupon offer which brought hundreds extra visitors over for several months. While there was a reduction of the entry fee, the museum opened and there was an increase number which did not increase costs. The profits rose as the visitors had to spend money at the museum café and shop.
Expanding the sale beyond the coupon offer
When the customers with the coupons visit your business, you will have an opportunity of increasing their purchase above the coupon. An example is where many restaurants offer coupons for a free entrée or dessert knowing that, when the customers come, they are likely going to order drinks and main meal. An offer in a garage for free oil change might encourage the customer to add on the wheel balance or a normal full service or rates which are slightly discounted.