Nothing can lure and tempt a customer as much as the power of raining discounts, offers, seasonal sales, flat percent off, and much more. But is there a way to reach out to potential customers and give them this ultimate bliss? Yes! It seems we have cracked the code for you. Bless them with Coupons.
If coupons are still not the sophisticated goodie in your business bucket, then you must upgrade it asap. Above all, it is the most compact thing that can help generate customers and revenue and, in turn, help blossom your withering business.
Though creating a coupon is no rocket science, failing to develop it effectively might not deliver as good results as you expected. So this article aids you with the goodness of a coupon template and much more to uplift your business, fetching you prosperity and loyal customers.
Let us quickly gain some insights on a coupon and how it can be the best tool in your kitty.
What Is a Coupon: Driving Force of a Business
Coupons are the most effective way for a business to grow its sales revenue. Traditionally, coupons were available on physical paper, but with the advent of technology, even digital coupons have made a good hold in the market.
Coupons are purposefully used to induce purchases and attract new customers while retaining the older ones. They can help track a business's marketing campaign's potential and success. Earlier coupons didn't have an expiration date, but now, they have one. Depending upon the nature of your business, a coupon might last between 24 hours to six months.
If made wisely, it can be one of the best and cheapest aids to increasing your customer retention ratio. However, you must be careful while playing with this little tool, and devising a strategy as a wrong move can indeed generate sales and revenue but might result in a lower profit.
What to Include on a Coupon?
Making a coupon is easy, especially when you are clear with your basics. With all the information and details in hand, you are only left to assemble it per your needs and requirements. Some key considerations that you must be mindful of while creating your coupon are:
- Company branding
- Product images
- Social media component
- Your discount deal/offer
- Expiration date
- Restrictions and exclusions
- A redemption code
- Barcode trackability
- Company information
- Rebate opportunity
- Placement of coupons (like newspapers and magazines)
Are Coupons Worth the Attraction?
As a business strategy, coupons alone can't fetch you as good results as combining them with your base business plans and tactics. However, you can't underestimate the power of coupons. After all, you can't afford to ignore your customer's favorite love affair.
- Enables the customers to buy their all-time dream products
- It helps customers buy more items
- Assists the customers save money
- Provides a tentative and suitable time to buy
- Assists the business in generating traffic
- Assist the company in retaining the potential customers
- It helps attract new customers
- It helps create incentives for business
- Helps build social media marketing (SMM) strategy
- It helps increase the sales of other products
- Enables the business people to off-load their old stock
- Cuts down the advertising and additional promotional costs
- It helps fetch business from small business owners
- Assists in finding the potential customers
- Most compact tool to help deliver results
How Can You Put Coupons to Business Use?
Depending upon the nature of your business, its size, and operating industry, you must always pay close attention to your competitors and their strategies and tactics. You must be careful to use one offer at a time. After its expiration, you can choose to select some other offer.
However, you can use any of the following strategies and types of coupons as per the goals you have set to achieve.
- Free shipping coupon
- Buy One Get One (BOGO) coupon
- Automatic coupon
- Free gift with purchase coupon
- Referral coupon (family and friends discount codes)
- Percent-off coupon
- Mobile coupon
- Promo codes based on loyalty status
- Mystery deals coupon
- Gift card with purchase coupon
- Chance to win a giveaway coupon
Confused with the Distribution of Your Coupons?
Creating a coupon alone makes no sense unless you find the proper distribution channels for the widespread distribution of your coupon codes. You can use the following media to make the most of your coupons:
- Print advertisements (newspapers and magazines)
- Email marketing campaigns
- Social media posts (Facebook, Instagram, etc.)
- Direct mail campaigns
- Website promotion
- Content marketing
Using a Coupon Template: Websites, Tips, and Formats
A coupon template helps you save effort and time by being readily available at a click. You can edit it to tailor-make according to your needs or create one using them.
It helps you provide a standard design and format to fill the blank spaces per your needs and requirements. Whether you are a business person running a textile firm or someone who owns a restaurant or salon, you can use any coupon style irrespective of your business venture.
Some websites to assist you with the downloading of a coupon template includes:
- Adobe teachers pay teachers
- Poster my wall
- Template net
- Free pik
- Template lab
- Create vista
- Template office
- Small biz trends
- Business tutsplus
Generally, these templates are in PDF format. Despite being available online easily, you may face issues with their access on your device. So, professional PDF software must help you quickly open and print a coupon template.
For example, you can try SwifDoo PDF Reader to read these templates on your device. This incredible software allows you to merge, compress and crop your PDF files without compromising the font style, format, and quality.
Using SwifDoo PDF software, you can also arrange and edit all your PDF documents in its library for ready access. Additionally, you can create and share your coupon in the online community and with your clients and loved ones anytime and anywhere.
Building the Right Strategy for Your Coupons
While coupons can be effective, you must know the right strategy for building them. A wrong coupon can not only fail your plans but have a negative impact in the long run that can cost your business its sustainability and resilience.
- Research well on your products and business strategies
- Define your current business position in the market and set a standard of what you want to achieve
- Make a gripping and hypnotic offer
- Customize your coupons by adding the company logo and appealing visuals
- For effective coupon marketing, distribute it through multiple channels
- Appeal to specific and unique customer segments
- Avoid offering too many deals at once
- Set a wise and mindful call to action
- Do the math by presetting the amount of money you intend to earn with your coupon strategy.
How to Create an Effective Coupon Digitally: Designing in the Structured Layout
You can use a coupon template to help yourself with the process or tailor-make one from scratch. For example, you can use any website or software to create a business coupon smoothly. Here are some simple and quick steps to help you make one on a Word document.
1. Open a Word or Paint document:
Start by opening the Word document to design your structure.
2. Draw a rectangle:
Sketch a rectangle on the blank page of the document. You can choose any size of your preference. Generally, smaller coupons help save you printing costs, while large coupons are eye-catching, drawing greater attention.
3. Place the company's logo and name:
Place your company's branding/logo at the top of the rectangle. Add your company's name below the logo or in the right-hand corner.
4. Add the discount details:
Add the nature and type of discount you offer in bold letters and giant fonts to attract customers—for example, 20% off on home appliances or 10% off on monsoon arrivals, etc.
5. Include terms and conditions:
Add the binding terms and conditions right below the offer details. For example, validity details, coupon expiration date, or the list of exclusions (items) on which the coupon discount won't be applicable.
6. Include a coupon code:
Add a coupon code at the bottom. The same code will go in your sales system so that you know when the customer makes a purchase using that specific coupon code. Additionally, it also helps you track the increase in sales through that coupon strategy.
7. Adjust the fonts and designs:
Make essential changes in the fonts, formats, text and coupon colors, and graphics per your requirement.
8. Make multiple coupon copies:
Now since your coupon is complete, you can make multiple copies to print on a single page. Depending upon the size of your coupon, you can print many copies at once. Drag the created rectangle (coupon) to the screen's upper left corner and copy it. Position and paste it multiple times on the page to fit it to the document.
9. Print your coupon:
Once your positioning is set, you can take the print of these coupons on quality paper. After you are satisfied with the print quality, proceed with cutting the coupons with a heavy-duty paper cutter.
10. Share and distribute the coupons:
Now distribute the coupons through offline stores or print media to generate traffic and business. You can also share the coupons online at various social media handles like Facebook, Instagram, and your websites to grab the attention of potential customers. In addition, you can personally email these coupons to your premium customers.
General Tips to Follow While Creating a Business Coupon
While creating an effective coupon depends a lot upon the nature of your business and industry, you can always be mindful of the general tips while making one. If you are confused, we are here to help you with some tips you can implement while writing and creating the ideal coupons for your business.
- Use limited-time offers to generate customer interest.
- Use multiple channels for widespread distribution.
- Remember to add discounts.
- Create a sense of urgency by sending off-time coupons.
- Create a customer reward program.
- Strategize your offer deals wisely.
- Use catchy visuals and graphics.
- You can use multiple coupon platforms.
- You must single-use promo codes to avoid unnecessary mess.
- Try creating personalized coupons for premium customers.
- Using gamification techniques, like first to claim, mystery reward, and collect and save, can help boost your sales terrifically.
- Engage with online influencers like bloggers and creators for a more significant distribution network.
A Quick Wrap Up
Building a coupon strategy that syncs your business' growth and customer needs would be best. But creating coupons alone isn't going to give you as effective results as using them with other business strategies and tactics. Instead, it would be best to use it as an additional aid to spark the customer's interest and gain attention.
Above all, coupons have the caliber to drive business to your stores and increase your sales per customer, provided you make it wisely. For example, you can create an effective coupon with the help of a coupon template. We have already listed the websites and some mindful tips to take care of while making one.
Since you already have a thorough idea of a coupon, its benefits, and the key inclusions, you must not waste your time further and instead gear up with your products and business profile to create a compelling coupon to upscale your market today.