Tip #1 regarding: Coupon, SMS and Email Marketing “Coupon Marketing, Local deals, Daily deals,Group-buying deals,” Call them anything you want, they’re all the same: a very expensive type of marketing campaign that can ruin a business if not managed properly. When you pay for any coupon marketing campaign you should have a well thought out marketing strategy in place. Why? Because you’re not only providing a product or service discounted by at least 50%—you’re also losing 50% of the leftover gross revenue as well. A well thought out strategy will enable you to get as much ROI per new customer as possible.
Businesses usually participate in coupon marketing campaigns because they expect an instant source of loyal, repeat customers. In reality, this rarely happens. Why? Because most of the daily deals attract a discount consumer mentality—the kind who will never pay full price. So what’s the best way to get the most from a Coupon Marketing Campaign?
For each and every coupon marketing campaign make sure you create and maintain a relationship database of each customers contact information, including email, cell phone numbers, birthday and any referrals.
Require anyone who purchased a coupon to provide all contact info in order to have the coupon printed (if possible) or at redemption. Include some kind of verification requirement so you know you have captured the correct info for use at a later date. As soon as you have this information you should contact each coupon buyer and let them know you will be sending future offers for “specials.” This is a large part of your coupon marketing campaign strategy.
Control the customer relationship with news and direct offers. When someone presents a coupon to purchase your product or service, follow up with a thank you, a request for feedback (Yelp?) and send your next offer within days, not weeks. Once you begin this direct marketing, you are able to decide on the amount of the discount and you get to keep all of the profit. Restaurants and retailers both can include some kind of online voucher link with the bill. We know they are internet savvy because they bought the coupon in the first place.
Create and maintain an ongoing relationship through social media. Let customers know that future deals are available when they “like” you on Facebook, give feedback on Yelp or “follow” you on Twitter or Google+. This will appeal to their discount-seeking nature—and almost guarantee repeat business.