Internet coupons have become quite popular because the cost of offering the coupons is so low. For example, with online coupons there are no postage or printing costs. Internet coupons also have the potential to reach a much broader audience. Like most things, there are a few tricks to building a great coupon. Here are some things you want to remember when you’re building your online coupons.
Make the discount count. The most popular coupons offer a fixed discount, such as $10 off a purchase of $50 or more. These coupons tend to attract more clicks and have a better conversion rate for sites whose average order totals less than $100. Alternatively, sites with an average transaction size of more than $100 find that coupons offering a percentage discount, such as 10% off a purchase of $100 or more, often perform better.
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Make it different. Many online merchants now try to attract first-time buyers by offering them greater discounts. Repeat customers may expect 10% off their order, new patrons might need an extra incentive, like a 20% discount for their first purchase.
Make it generic. Apply the offer to all orders or all product categories. If your coupon is too specific you run the risk of not attracting a broad enough audience. However, you still want to put some boundaries on the offer like “15% off purchases over $50
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Make it end. Set an expiration date to create a sense of urgency. This allows you to control the outstanding impact of the coupons you send out. Using an expiration date will create a deadline so you can remind your customers to hurry up and take advantage before time runs out.
Make it simple. Don’t put exclusions, caveats or special circumstances on the coupon. If customers can’t figure out what the offer is, they are not going to use the coupon.
Once youve created an online coupon, services like MerchantCircle (www.merchantcircle.com) help get your coupon picked up by the major search engines – extending your reach by introducing you to more customers. The team at MerchantCircle has built an online advertising tool specifically for small local business to market their business online. It includes coupons (of course) as well as online ads, newsletter, and blogs all centered around your business listing webpage. For more information on MerchantCircle, visit http://www.merchantcircle.com
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How to Make Online Coupons Work for your Small Business