Competition in businesses is increasingly growing at an alarming rate. Investors are starting new businesses offering similar products and targeting the same customers. Business people have to create new ways of attracting customers to their physical and online stores. One of the methods used by most retailers is coupons.
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Customers who get them present them to the store that issued them to receive a discount. Online customers enter the coupon code they receive to get a discount. Due to a large number of coupons retail stores issue to customers, the cost of designing and printing them can escalate. The solution is to use an editable coupon template to create customizable coupons.
How coupons help retailers
A large number of shoppers use coupons to claim discounts from stores. Many start-up stores issue coupons to attract a large client base. Established retailers create different promotional campaigns and use coupons to increase their customer base. Today, it has become the norm for business people to issue coupons. There is a higher expectation from customers to receive discounts. Coupons help customers in different ways.
- They attract customers. A business that seeks to record growth must pay keen attention to customers. As buyers make purchases, companies record profits which help them to grow. To be customer-focused means to offer services that leave customers satisfied. It also means attracting new customers to the business. Coupons provide an excellent way for customer attraction. Marketers look for a high-quality coupon design and an attractive printable coupon template to make customizable coupons. When customers get them, they visit the store and redeem them after purchase. On the other hand, the business makes a sale and counts profits.
- Improving brand recognition. Many brands are struggling to get recognition from customers. Online marketing is competitive, which makes it harder for brands to stand out. A lot of customers cannot easily identify many brands in the market. When buyers correctly recognize products the moment they see a company logo on the product, it shows they have built trust with the brand. This is one of the ways companies use to build a large pool of loyal customers. To help them build a strong brand, they use a printable coupon template to create redeemable coupons.
- Increasing the sales. Companies mostly use coupons when they have sales promotions. They also use them when they are launching new products or welcoming new customers. They use their discretion to decide the value to give each coupon. This depends on the amount of money they have set aside for the promotion. After creating the coupon design, they use different ways to promote them. A customer may get a message online or on print media with the message “redeem this coupon template.”
The customer must cut the piece and present it to the store. If it is online, it means they can write the code and use it when making an online purchase. When companies use coupons to promote products, they increase sales.
Are a coupon and discount the same?
The two words might look similar, but they are totally different. Although they are different, they serve the same purposes. They are strategically used to attract more customers and to increase sales in a business.
A discount means to reduce the cost of something at a certain percentage. Sellers use discounts as a way to attract customers and improve satisfaction rates. The seller is free to decide the amount of price reduction they want to put on products.
They may decide to get 50% discounts, 10%, or 1% as they wish. When a discount is higher, more customers visit the store offering the discount. The seller records higher returns from sales and makes more profits. A discount tag requires design just like coupon designing is required. Coupon design can be done using a free coupon template or an editable coupon template from our site.
A discount can be received multiple times as long as the customer buys the discounted product. For example, if a specific laptop brand has on its price tag a $100 discount, that discount applies to every piece of that brand. If a customer buys five pieces, they will receive a discount five times.
A coupon is different from a discount in many ways. The moment a customer gets a coupon, they receive the right to claim its value at the point of purchase. If they lose it, they lose their right to claim redemption. A seller may design a coupon using a blank coupon template or printable coupon template and send it to a customer. They can use print media or online to get coupons to customers.
One thing the customer will notice is that it has an expiry date. If they fail to claim before the expiry date, its value lapses. Coupon value is mostly redeemable once at the time of purchase. For example, if the value of a coupon is $5, any customer who holds the coupon will get $5 no matter the total value of goods they buy.
Types of coupons every retailer should consider issuing
The benefits coupons bring to businesses are many. When a retailer is considering printing coupons, they should also consider the types of coupons they want to issue to customers.
Many coupon samples are available where sellers can get different ideas for the type of coupon design to choose. The coupon samples range from a free coupon template to redeem this coupon template and a blank coupon template. These different types of coupons will be worth considering.
- Loyalty coupons. Retailers value loyal customers because they bring them continuous business. It is important to have strategies for sustaining loyal customers even as the business keeps getting new ones. One of the strategies retailers can use is to issue loyalty coupons. They get a printable coupon template and design a coupon that can be used multiple times. Every time the coupon holder buys an item, they get a certain number of points. The points keep accumulating up to a certain point where the customer can redeem them. The points are converted into cash value, and the customers are free to use them to pay for items bought.
- First purchase discount coupons. These types of coupons are used to attract new customers to a business. They are also useful when the retailer wants to populate their email and telephone lists. In most cases, they are promoted online when a customer is shopping in the online store. To encourage them to buy, they see a coupon written: “redeem this coupon template.” If the customer clicks on it, they qualify for a certain first purchase discount. The discount can range between 5% to 20%, and it can be more than this sometimes. If they order online, they will enter their “redeem this coupon template” code to get the discount. If they buy from the physical store, they need to print the coupon and present it at the point of payment.
- Automated coupon. This type of coupon doesn’t require the customer to enter the code every time they make a purchase. The editable coupon template is designed in a way that the system automatically detects it once the customer pays with the card they registered with. Even if the customer forgets or loses the coupon, they don’t have to worry about losing points.
- Free shipping coupon. There are different free shipping coupon samples available online. Whether the retailer decides to use a free coupon template or a blank coupon template, they can make a beautiful free shipping coupon design. It is used to encourage the customer to buy from the retailer. Once they make a purchase, they apply the code to get free shipping.
- Shared coupon. A retailer may choose an editable coupon template to design a coupon that can be shared. This is mostly applicable to families and close friends. One family member or friend can use the coupon to get a discount and then give the other member the same coupon to claim another discount. Sometimes the family members can accumulate loyalty points on the same coupon. Some major stores commonly use shared coupons.
How do you make homemade coupons?
There are different ways to create an attractive coupon design from your house. You can either use a coupon-making application, Word or use predesigned coupon templates.
From the coupon samples available for each category, choose the design you love and follow these steps:
- Decide the information you want to print. Depending on your goal, you can put any type of information on your coupons. Any of these types of information will work on different coupons.
- Images. You may choose to add images of your products to show customers what you are promoting. The image should be of the product you are promoting. Make sure the image is sharp and easily noticeable.
- Date. Most coupons have a strict expiry date. This is the date when the promotion will end, which can be one week, a month, or a few days. Some of them will show the starting date and the end date.
- The promotion. This is the deal you are offering customers, which can be in terms of redeemable points or cash. Coupons that give redeemable points may not have an expiry date. Customers keep accumulating points over a long period until when they are comfortable to redeem. If the coupon has a cash value, it will likely have an end date. The customer doesn’t get cash, but the value of the coupon is deducted from their purchases.
- Code. Every coupon must have a code, also called a redemption code or a bar code. This is the code that a customer keys in during an online purchase to get their discount. When they visit a physical store, the code is scanned to apply the discount.
Work on the design of the coupon
Having inserted all the necessary information, edit your coupon design before printing.
- Design and colors. Choose a good design that will please every user regardless of their age, shopping preferences, or class. What matters most is the type of editable coupon template you choose. When choosing colors, you may consider using your corporate colors for brand promotion and recognition.
- Size. A coupon can be as small as an inch or as big as 5 inches. What matters is the use, distribution, and redemption strategy. Some coupons are used once, and the customer leaves them at the store once they use them. Other types can be redeemed multiple times depending on customer shopping behaviour.
Decide your distribution strategy
After your coupon design is ready, the final step is to print and distribute. It is upon the retailer or seller to decide how the coupons will get to customers, and there are many strategies. Some sellers will decide to use local or national newspapers depending on the reach they want to achieve.
Other methods are giving coupons during a purchase at stores or online. Whenever a customer buys, they get one coupon on their way out. Sometimes they can place the coupons on carts online so that as the customer fills their cart, they get a push message that pops up with the message redeem this coupon template. They can be emailed to everyone on the email list or attached to a coupon on products during a product giveaway campaign.