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What is a Business Voucher?

A business voucher is a document (either paper-based or electronic) that entitles its holder to in-store freebies, discounts, special access or a combination thereof. They are sometimes called coupons or gift certificates. 

Most vouchers will have a pre-determined monetary value that is decided by the business owner or the lead marketer. They can be redeemed at the issuing establishment or at authorized store locations. To use digital vouchers, a voucher code is needed.

How to Make an Effective Business Voucher

Billions of printed and electronic vouchers and coupons are created every year. And of this amount, 1.05 billion are mobile coupons.1 As entrepreneurs learn how to better navigate the digital divide and look for ways to increase brand awareness through the internet, investing in marketing tools like coupons and vouchers will be the next logical step.

The short guide below is meant for those who want to learn how to create effective business vouchers on their own. This voucher-making guide works for start-up founders or those who just want to have a DIY marketing approach.

1. Come Up With A Unique Offer

The best vouchers are those that a customer really needs. Or, at least, those that a customer thinks he/she will need. Come up with a discount scheme or promotional offer that provides value without affecting your profit margins. And if it does affect your profit margins, make sure that you calculate how the difference can be gained back through other means.

2. Design Matters

Good design has a good visual hierarchy. When creating printed business vouchers, craft business vouchers that are visually appealing. Use striking font colors, bold typography, and well-formatted headers.

For example, a hotel voucher that visibly incorporates all the business gifts you will receive when you book a room at the hotel is more likely able to convince customers to use the voucher than if you just use a plain voucher design.

3. Update Deals Regularly

Consumer behavior studies indicate that as much 55% of consumers use both print and digital vouchers and coupons.2 And to continually appeal to this demographic, it is best to update your voucher deals and offers regularly. 

Keep up with the seasons and trends. Create business vouchers that are linked to specific events or holidays. 

4. Integrate With Other Loyalty Programs

In a recent customer research survey, up to 61% of respondents said that getting a surprise offer or special discount from a brand is important in interacting with customers.3 In line with this, creating vouchers for your business is an important tool in increasing brand awareness.

But for a more effective voucher marketing campaign, it best to combine them with other customer loyalty programs. You may also combine them with your existing digital or social media marketing campaigns.

5. Voucher Distribution Campaign

Gone are the days of one-size-fits-all marketing. This applies to voucher and coupon marketing as well. To get the most out of your business vouchers and discount coupons, always come up with a sound distribution plan.

Do you want to enclose the vouchers on your direct mailers? Or do you like to use online vouchers? Conduct market research to know the best voucher distribution campaign suited for your brand. Once your desired demographic is identified, you can easily plan for a distribution strategy that targets the right customer base.

References:
1 - “Mobile Coupon Users To Pass 1 Billion By 2019, Juniper Research Finds.” 2014. Juniper Research. Juniper Research. https://www.juniperresearch.com/press-release/coupons-pr1.
2 - “2018 Inmar Shopper Behavior Study Finds Coupons Influence, Alter Purchasing Behavior.” 2018. Inmar, Inc. Inmar, Inc. https://www.inmar.com/press-release/83-percent-of-shoppers-report-that-coupons-are-a-driver-for-changes-in-purchasing-behavior/.
3 - “Important Ways Brands Interact with Consumers U.S. 2018.” 2019. Statista. April 2, 2019. https://www.statista.com/statistics/990696/important-ways-brands-interact-with-consumers-us/.
 
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