Coupons are big in the US. They are understood and well entrenched in shopper culture – from large retailers to small. It is hard to go into a US retail business and not receive a coupon or some other mechanic for bringing you back into the shop.
Coupons are becoming more widespread in Australia. Woolworths, for example, is using them regularly on shopping dockets – not the shop a docket type but these ones are printed on the same side of the receipt by their system.
While I don’t think we here in Australia will get to the Extreme Couponing craze as evidenced in the reality TV show, I do think there are opportunities for small and independent retailers like newsagents to use coupons or coupon like flyers and promotions to bring shoppers back.
The keys are:
- Make the offer financially compelling.
- Have an expiry.
- Make the coupon attracting – with some elements of a banknote.
- Don’t just hand the coupon, mention it in the sale.
- Give away a coupon to every shopper.
- get a key supplier engaged to share funding of the offer.
- Cheerfully give away the coupon value or bonus when it is redeemed.
- Try it several times and measure results before you decide if couponing is for you.
Okay, so no one nearby your business is using coupons? Being first can be fun, valuable and informative.
Creating and running a coupon campaign can be easy and specific to your business. It could be a way of presenting your business as offering better value than what shoppers think.
Now, watch the Extreme Couponing TV show promotion. Yeah, it’s crazy … but it also gives you ideas.