“We Will Redeem Any Competitors’ Coupons”
There is a lot of power in Coupons. Notice how Groupon has become a huge phenomenon within the last year. Currently, it is planning an IPO at a valuation of $15 to $25 billion. This is a coupon issuer folks; not a high tech innovator.
It has merely taken a thing of value (coupons) and combined it with the Internet to better reach potential customers and bring them to offline (though not exclusively) retailers and businesses.
The power of coupons cannot be ignored.
Retailers and service business owners should understand the power of coupons. Consumers clip ‘em and use ‘em. Coupon usage in America is huge, so you might as well participate and create such a system if it fits your enterprise.
Incidentally, when you offer a coupon, it is usually best to put a big, thick coupon border around the coupon, or for that matter around the entire ad, so that there is no confusion.
I have found that a thick border beats out a thin one and the dotted coupon border beats out other borders. I’ve had my consulting clients test this over and over and it works all the time.
For one of my clients, I created a promotion, to expand their customers’ usage—to get regular, retail customers who were buying and using only a few items, to try additional ones and to redeem “store-brand” coupons for like products. It always created lots of sales and lasting usage expansion.
Here’s the concept and idea. If you are a retailer or operate a service business, accept your competitors’ coupons. This puts all their advertising to work for you.
If it is possible and you can afford it, DOUBLE, the value of the competitors’ coupons that you redeem. They will be redeeming your competitors’ coupons that they paid a lot of money to advertise, with your company.
You have to create that system and educate your customers/clients that it is available.
Let me know what you think about this. And if you are having difficulty, let me know and I will try to guide you in this process.