How discounts and promotions help rekindle interest in your business

discounts and promotions

Last Updated on July 6, 2024 by Team Experts

Sales slow down for a variety of reasons. In 2020, one of these factors for companies is definitely the COVID-19 emergency. The lockdown and other effects of the pandemic have put companies in difficulty when it comes to connecting with customers. It only takes a few months for consumers to develop new buying habits or even forget about your business. Discover the advantages of offering discounts and useful tips on how to take advantage of promotions to win back the attention of your customers.

Discounts and promotions – a proven marketing strategy

Deals have existed since the birth of commerce, but the first official coupon was from Coca-Cola back in 1887. The nascent brand wanted to make a big hit on consumers by offering the drink of the same name, which had only existed for a year at the time, and so created a voucher for a complimentary bottle of Coca-Cola.

The result was impressive. Within 8 years, the drink was distributed throughout the states and the coupon’s role in marketing was cemented. As of 2020, 90% of people use coupons regularly.

The benefits of offering discounts

Science is even behind the concept of brewdog discount code and promotions. A US research study on the impact of coupons indicates that they actually make people happier.

The study investigated whether receiving a $ 10 shopping coupon impacted people. Those who received the coupon experienced a 38% increase in oxytocin levels. It is a chemical in the body that helps produce a feeling of happiness.

Additionally, the researchers found that the people who were given the coupon showed signs associated with decreased stress levels, including decreased breathing and heart rates and less sweating.

If people feel happier thinking about your brand, that’s good news for you. Plus, if you are able to increase people’s happiness or decrease stress simply by offering them a good deal in uncertain times, they are more likely to remember your business and choose you when it comes time to make a purchase. .

Plus, deals and vouchers help motivate customers to try your services if they haven’t done so yet, or haven’t done so in a while. About 80% of consumers say they have made a first purchase exclusively thanks to a promotional offer, and almost 75% say that a deal or a discount coupon are among the most important factors to consider when making a purchase. , especially online.

Here are some other benefits of offering discounts:

  • Increased customer acquisition rates
  • Increase in sales
  • The fact of differentiating from the competition
  • A reason to reconnect with consumers through email or other marketing methods

Tips for making the most of discounts in order to re-connect with customers or drive sales

However, simply posting a discount code on your social media page or handing out printed coupons on the street isn’t enough to get the desired result. Check out our tips to maximize the benefits of all the discounts and promotions you have planned.

  • Create a goal. Always make sure you know exactly why you are promoting. A promotional initiative to introduce a new service requires a different approach than an offer to win back lost customers. Understanding the reason behind your offer will help you target it more accurately to the right people.
  • Segment your audience. Planning your promotion in advance will help you understand if you need to create different offers for different types of your target audience. Sometimes, you may find yourself offering the same thing but with different words to appeal to different audiences. For example, you could offer your existing customers a “loyalty bonus” or advertise a “free trial” for new consumers, or use different keywords to present your offer to the right audience through online ads.
  • Define the conditions of your promos. Increase the benefits of promotions by making them conditional. Instead of simply offering a 10 € discount coupon, offer the same coupon on a 50 € purchase. Or, ask people to like, share your offer, or sign up for your newsletter in exchange for a coupon code. In this way, the promotion becomes even more beneficial for your company.
  • Try to get your message across in different ways. You can offer paper coupons, send them by email, advertise them on your website or social media pages, or by taking advantage of PPC advertising campaigns. These are just some of the ways you can offer your deal to consumers. If an offer doesn’t promise immediate success, try different ways to advertise it to get attention.

Whether you’re looking to reconnect with old customers or win new ones, Groupon is here to help. Find out how to become our partner and take advantage of benefits such as proven marketing strategies that will allow your offers to reach a large network of consumers.

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She has over 7 years of experience writing about technology, education, digital marketing, general and business. Her experience in the tech industry (fieldengineer, wowtechub, techsprohub, techinfobeez) has taught her how to write engaging, informative content that makes complex issues accessible to a wide audience. Follow her on Linkedin

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