Using Coupons to Benefit Your Business

Once a Day Marketing™ featured video blog: Being Smart with Coupons

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™. Today is Recon Thursday and I am going to share my thoughts on trends in coupons, which seem to be everywhere these days.

Numerous types of coupons are available in newspapers, online, directly from merchants, etc. Daily deal websites such as Groupon offer discounts for local and national companies. Groupon enables businesses to market discounts to broad audience. The question is, should they?

The proliferation of coupons and product discounts has created a coupon culture among consumers. This is a pitfall for small businesses when they rely on coupons as a means of driving traffic. However, there is a right place for coupons in your marketing strategy, such as introduction of a new product.

At Once a Day Marketing™ we encourage you to brand and market what makes your product unique in the minds of your customers. A coupon is a pricing strategy. Extensive use of coupons may create an expectation on the part of your customers for a discounted price. This results in moving your product on price rather than the value proposition that you offer, which is the reason you are in business.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com. Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

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Filed in: 7Ps of Marketing • Day of the Week • Price • Recon Thursday