Coupons are increasingly becoming popular as an effective marketing strategy. Vendors are able to increase their sales by offering coupons and many affiliates offer coupons as a way to attract new customers. This works because consumers are looking for the best deal they can find.
As a weight loss blogger I have considered how I can increase traffic to my blog and make my business more profitable with the use of coupons. I have come up with a few ideas that I’d like to share with you just in case they can be of use to you too.
Using coupons to study consumer trends
Aside from offering coupons to increase their sales, weight loss vendors also offer coupons so they can gather statistical data. This kind of information gives them invaluable marketing information.
A vendor selling weight loss products is able then track the way in which their coupons are redeemed. These might be coupons for things like nutritional supplements or memberships to a gym. Vendors also gather other important information such as their visitor’s age, gender and race.
The physiological effect of coupons on consumer’s attitude
Despite the discounts they receive from redeeming their coupons, people who use coupons tend to spend more money than those who simply shop with a list and a specific product in mind. For example, people using coupons for weight loss may use them to purchase certain food products so they can try them to see if they work.
They also use coupons to try things that they see heavily advertised on television. This is a way for consumers to test new products without paying the full retail price.
When a customer is at a website ready to pay for a product they will often be asked at checkout if they have any coupons they wish to redeem. If they do not, at that point, they will often go hunting to try to find one.
Once the customer locates a coupon, they will return to the original site and insert the code into the checkout page and finish their transaction. This enables the customer to purchase their product at considerably less than the full retail price, plus the satisfaction of finding a hidden deal.
Demand for discount coupons is set to increase
Over the next two years, analysts project that the world is going to experience the worst recession ever recorded. It is expected that all the major banks will tighten their lending rates even more than they already have.
Taxes are expected to increase and people will either lose their jobs or have to take huge pay cuts. All this is expected even though the need for basic consumer products will stay the same.
It is easy to expect, then, that the number of people who will be searching for discount coupons will increase dramatically. This is what I have seen by people who are purchasing meal replacement products from weight loss and diet companies DiettoGo and BistroMD, which have recently started to offer coupon codes to attract new customers and establish customer loyalty.