This year is turning out to be one of the toughest in a long time for most brick and mortar retailers. This pandemic has presented many challenges for retailers and will probably change the way we shop for months to come. In order to adapt to this changing environment, it's critical for retailers to bring in new customers.
A whopping 96% of consumers use coupons and these consumers use a coupon in at least one of every four purchases. In fact, 97% of consumers actively look for deals when they shop. This has never been more true than now during a time where screen time is at an all time high.
The pandemic has brought a lot of changes to how we shop. Appointment options and curb-side pickup are essential to providing a safe buying experience for your customers. Sending out digital promotions is a great way to spread the word and communicate these new accommodations to your customers.
One of the biggest drawbacks to coupons is the cost. Any discount you offer means less money in your pocket while you need to make up the loss caused by this pandemic. But the truth is, If you aren't launching any discounts or promotions it's likely that your competitors are. To help your business in the long run, it's best to offer discounts that won't hurt your profit margins too much but are also appealing to your customers. Here are 4 benefits to using serialized coupons:
1. Trackable
It's important to track your promotions and keep a close eye on who's using your coupons. If you're not reviewing the data, how will you know which promotions are the most effective? Tracking coupons is the best way to optimize your promotions for your audience.
2. Shareable
Did you know that coupons with a built in "share" button can increase your reach by up to 20%? Let your promotions go viral. Allow your customers to easily share your offers with their friends and family! Distribute your coupons through all media including web, SMS, e-mail, social media, and even print.
3. Prevent Fraud
Another big drawback of running promotions is fraud. When customers can successfully "game the system" and redeem a coupon more than once they're affecting your bottom line. Thankfully you can avoid these loopholes by using serialized coupons. With serialized codes that can be uploaded to a POS, users can every single barcode. This way, once a barcode is redeemed, it can't be used again.
4. Increased Foot Traffic
The bottom line is, your customers love deals and they respond well to them. When you give your customers the ability to share a coupon you are opening yourself up to a new audience that will likely respond just as well to your offers. Coupons will grab attention and bring new customers in.
With TracPoint's Coupon Module you can easily create and track digital coupons that are customized for your brand within minutes. The drag-and-drop platform is simple enough for anyone to use while tracking clicks and redemptions. These promotions can be shared out to all your digital platforms.
Want to learn more about our Coupons Module? Click here to learn more!
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