What is a Coupon?
A coupon is a marketing material that rewards its bearer access to freebies, discounts, or special offers. It is usually printed on small pieces of paper and inserted into magazines, catalogs, and other direct marketing mailers.
Some coupons can also be used online through the addition of a coupon code that consumers can use upon check-out. Coupons can also be called and used interchangeably with gift vouchers, discount coupons, or gift certificates.
Customers mainly use coupons to save money. Businesses, on the other hand, use simple coupons to increase brand awareness and repeat purchases by implementing a smart pricing strategy. All without sacrificing the quality of the product or service and the business’ profit margins.
How To Create An Effective Coupon
Coupon use (whether printable or online coupons) is expected to increase a whopping 94% and amount to about $91 billion in revenue by the end of 2022. This is a perfect opportunity for any business to start investing in their coupon marketing campaign.
And to jumpstart that project, written below is a guide on how to create effective coupon designs.
1. Choose One Design Theme
Just like other types of printed marketing materials, the more visually appealing a coupon is, the more likely it will be read and utilized. This applies to whether you are making free food coupons or restaurant coupons.
A good design theme is one that correlates with your business’ image and marketing campaign. To illustrate, if you are a pet store owner, you may create dog food coupons that incorporate animal illustrations and visual elements that appeal to pet owners.
2. What’s In It For The Customer
Perhaps the most important component of a coupon is its unique selling offer or USP. This is the reason why your coupon’s offer is better than your competitor’s. Figure out what your customer needs and craft your printable coupon based on this.
For example, if you manage a neighborhood supermarket, you may create grocery coupons that give customers big savings when they buy items in bulk.
3. Add an Enticing Call To Action
This next tip goes hand in hand with finding your coupon campaign’s unique selling position. Once you have found a USP, make sure that this is stated as clearly and as enticingly as possible.
A good Call To Action should include a never-seen-before offer and a deadline. You hook a customer to try out or buy something from your offer for free stuff. But you spur him or her into action with a definite deadline. Phrases like “Limited Time Only”, “Now”, “Until Supplies Last” work well.
4. Combine Printed and Digital Coupons
A recent consumer survey revealed that up to 55% of the respondents use both digital and printed coupons. As a marketer or business owner, this means that you should not take for granted other marketing channels.
For a more effective coupon marketing campaign, make sure to create both printed and online coupons. By being present in both channels, you can target different demographics and increase your profit margins.
5. Add Tracking Codes
Tracking the use of your business coupons allows you to correctly evaluate their effectiveness. This way, you can also determine if your profit margins are affected or not and then adapt accordingly.