Over the decades, marketing has grown to be one of the essential elements of running a business. Whether your business is an offline store or a digital store, it is challenging to grow as a business without a good marketing strategy, which is why almost all industries now have a separate marketing department to advertise their products. Additionally, the definition of marketing changes every few days according to the trend or marketing method. However, there’s one method of marketing that has been around for a long time now – Coupon Marketing.
Also read : 10 Video Marketing Tips & Strategies for Your OTT Platform
What are Coupons?
Before we dive deep into coupon marketing, it is essential to know what coupons are.
“A coupon is a piece of information through which one can get financial benefits on a product or service. A coupon can be of two different types: Physical and Digital.”
Difference between Physical Coupons and Digital Coupons
The primary job of both physical and digital coupons is to give financial benefits or discounts on a product or service. However, the difference lies in the money that is put behind generating these coupons. In digital coupons, one can use a set template and send it to the desired audience with a few clicks. Whereas for physical coupons, one has to bear the cost of printing them; the more coupons you want to print, the more money you have to invest. Another significant difference between physical and digital coupons is that the audience reach in digital coupons is much more than that of physical coupons. This is further explained in the blog.
Importance of Digital Coupons
Apart from the fact that coupons are easy to create, other factors prove it is one of the most crucial components of marketing and that it is here to stay. Some of the elements are –
Large Audience Reach
Once you have created the perfect, aesthetically pleasing coupon for your business, you can market it everywhere. It can be added to your website, so anyone who comes onto your website, even if by mistake, will be fascinated by the discounts or other financial benefits that you offer. Other than this, you can also share it on social media platforms or include the coupons on your blogs. All of this helps you reach a much larger audience and even influence them to a great extent as nobody wants to miss out on a chance of buying something at a lesser price.
With Physical coupons, the only few options one has of distributing the coupons is hiring someone to go to places and then giving the coupons personally, or one can collaborate with shopkeepers who can distribute them; in both said scenarios, there has to be an investment of money. However, for distributing digital coupons, there is no such investment. A business can invest in a coupon template once and can use it throughout the year.
One of the best features of Coupon marketing is that you can customize it according to your campaign. With a graphic designer’s help, you can convey what your business stands for from just a coupon.
Increase Customer Loyalty
Customer Loyalty can be of two different types: the customer defends your name in public; the other where the customer keeps coming back to purchase your product. In both the said scenarios, coupons can help as coupons are meant to call back the customer again while offering some financial benefits.
Overall, it is safe to say that one should definitely go for digital coupon marketing if they aim to do Guerrilla marketing. However, suppose you are someone who doesn’t want to take the responsibility of doing the calculations and work around coupons. In that case, you can simply try the Muvi Billing feature of ‘Coupons and Promotions.’ Muvi Billing offers you a simple interface, multiple coupon options, and coupon-specific content, through which you can design a customized coupon for your business. To know more about how it works, try the 14-day free trial of Muvi Billing.