What Is a Discount Voucher?
Discount vouchers are a type of financial discount incentive offered by retail stores and service providers as a way of promoting their brand to their target customers who can buy and avail products and services at a reduced price. Most discount vouchers come with a limited period of time, indicated as the start and ending date, as to when a customer should redeem it before it exceeds the end date and it will no longer be honored at the store or establishment it came from.
How to Make an Irresistible Discount Voucher
Regardless of what type of business you run, today's market will never fall short of competition. So, no matter how many times you would provide discounts within a year but you do not create an appealing discount voucher, it will still be difficult for you to gain your target number of customers and revenues. However, worry no more for we provide you with these guidelines that can help you in creating a discount voucher that is irresistible enough that its holders would definitely redeem.
1. Provide a Compelling Offer
Put yourself in the shoes of your customers--what would you look for in a discount voucher as soon as you receive one? The original price of a product or service? The discounted and final price? The amount of money you can save? Or all of the above?
As a business owner, you should know where to start when it comes to thinking of what makes a discount offer irresistible and that is by playing with the price of your goods and service. While you may already know the risk that comes with it such as getting into your profit margin, you should also know that you can easily make up for it especially if your discount offer is compelling enough to increase the volume of your sales.
2. Take Advantage of the Principle of Urgency
Shoppers would respond on impulse especially when offered with a promo or a discount voucher. That is all possible once you take advantage of using the sense of urgency. One of the methods you can do so is by indicating a deadline for your discount offer.
Even if your product is not a hot item bestseller or even if your product is currently not on your target customer’s to-buy list, they will buy it especially if you offer it to them at a discounted price--that’s the power of giving a sense of urgency.
3. Exclusivity is the Key
Do you know what else can make your customers feel good when they buy things? It’s when they are told that there are only a few people who own the product they just got from. It gives them a sense of exclusivity that drives them to buy whatever you can offer to them as long as it's exclusive.
One way of adding the element of exclusivity within your discount voucher is by offering the discount voucher itself to a limited group of people, say your customers who are loyalty card members. Apart from gaining more sales through your discount vouchers, you will also gain more loyalty card members especially if your discount offer is enticing enough to make that possible.
4. Give the Impression that Buyers Will Get More Benefits
Make it a point that your discount voucher will give your customers the impression that they can save and get more benefits when they would avail of your product even if in reality, it’s just a win-win situation between you and them.
For example, for every transaction a buyer makes using a discount voucher, he or she does not only get a discounted price of a product a service but it also entitles him or her to receive freebies or any other promo. The more promo you can possibly offer, the more it encourages them to use the discount voucher.