Wow – as soon as I saw this infographic from VoucherCloud, a leading UK voucher and discount site, I knew I had to share it! The infographic is a comprehensive look at retail discounts, voucher strategies, loyalty cards and coupon marketing best practices for retailers. It provides the profile of a coupon user, tips and tricks for optimizing your campaigns, and a ton of examples from leading retailers.
What I appreciate most is this quote (slightly edited):
Many businesses fail to achieve the benefits of coupons by offering promotions which compromise their profits, fail to market their business and de-value their products due to regular campaigns running in quick succession or by offering significantly high price reductions. Others fail to promote their campaigns adequately and might simply post one update through social media channels in a bid to market their promotion, and subsequently their business and expect results.
We've seen coupons perform well at bringing in new visitors to retail outlets, but we've also seen steep discounts actually devaluing the services provided where the consumer doesn't recognize the value of the product or service they are purchasing. A good discount must be thought out so that it wins new business and keeps the business!