Increase Your Retail Store Sales via Recession Proof Coupon Marketing

Coupon Marketing Tips for Retail Store Owners

Do you believe coupons are old school and dead?
Do you assume shoppers who use coupons are cheap?
Do you think coupons might hurt your business?

Think again…

Experts say, coupon usage is rising in the US, even among young adult consumers who may not have used them before. Among more than 5,400 consumers surveyed across the US in November 2008, 88% said it was more important to save money now than in the previous year, with many looking for a bargain with coupons, according to Valassis (NYSE:VCI) , a Michigan-based marketing company that provides print and online coupons. The survey found 41% spent between 10 minutes to an hour each week seeking coupons.

According to a Dec. 10, 2008 comScore report, coupon use grew 63 percent for the one week period beginning Dec. 1, 2008 compared to the first week of December 2007 as a source of referral for ecommerce sales. Coupons represented 1.8 percent of all sources of referral for ecommerce sales, comScore said. Similarly Google Insights for Search tracked a 51 percent growth in searches for the keyword “coupon” in December 2008 compared to December 2007.

If you are looking for a recession proof marketing method, coupons are your best bet.

In Store Coupon Example with Barcode

In Store Coupon

Things to Consider Before Starting Your Coupon Marketing

If your margins are already tight, consider upping your prices before creating your coupon marketing plan. Yes, you want more customers, but you don’t want to lose money after all, right?
Create a system where you can track your ROI with each marketing channel for your coupon marketing. Many retail POS systems allow you to create trackable coupons with barcodes. If your POS software doesn’t let you create coupons, find another online solution, and teach your staff how to enter the coupons into the system. Any marketing campaign without proper tracking system is a failure from the start.
Dedicate at least one part-time staff for coupon marketing, and include the cost of staff within your coupon marketing finances.

Now, you are ready to start your coupon marketing. Our ultimate goal is to bring in more foot traffic to the store, and increase sales. Come up with as many coupon options as possible such as dollar off certain amount, percentage off, combinations, etc.

Coupon Marketing for Retail Stores

Advertise at Coupon Sites

There are literally thousands of coupon sites. Specifically, search for “in store coupons”, “printable coupons”, etc. to find sites offering in store coupon listings, and start posting your coupon codes.

Advertise at Local Classifieds Sites

We have already talked about Craigslist Marketing for Retail Stores. Craigslist is a great place to advertise your in store coupons for free.

Use Related Forums & Blogs to Advertise Your Coupons

Related forums and blogs are targeted traffic for your store. Do not spam, write friendly, and explain your store and post your coupon codes to these communities.

Start a Niche Coupon Site

Take your coupon marketing plan one step further, and start a coupon site specifically to your niche. There are many general coupon sites, but very few niche specific coupon and deal sites are out there. This might be a great way to increase traffic to your store, and also create a secondary income stream through this site. If you have enough resources to create a niche coupon site, I’d say, go for it.

Use Your Email List to Promote Coupons

You have a targeted, quality, double opt-in email list, right? This is the best place to advertise your daily/weekly coupons. If you don’t have a targeted email list, start building now.

Above are just a few examples of where you can promote your coupon marketing. Be creative and come up with niche specific ideas to promote your coupons all over the internet.

*This article is a part of 10 article series; “10 Ways to Get Foot Traffic to Your Retail Store via Online Marketing“. Remember to read the other articles in this guide to increase your store’s foot traffic and sales.