Online Marketing Education | Learn Marketing
How to Reward Customers and Increase Order Frequency
Coupons are effective. Everybody knows that, but too many businesses don’t fully understand how to use them. You need to realize the theory behind coupons to get the most out of them.
If you only take away one thing about coupons, make it this: Only use them for a purpose! Often, business owners think of coupons as a last ditch effort or a one time sales boost. However, if used correctly, they can have a much longer lasting effect on your company.
One proven strategy for coupons that can make an immediate impact on your business is rewarding customers and increasing order frequency.
Here’s how you do it:
Start giving your customers coupons for their next visit every time they come in. This shows your customers you appreciate their business, and that you’re willing to reward them for their loyalty.
Increase Order Frequency
Include an expiration date to encourage them to come back soon — but be strategic! If your average customer comes in once a week, make the coupon expire in the next couple days to encourage them to come back sooner than they normally would.
The goal is to condition your customer base to buy more often from you. Then end result — happy customers that buy more often.
In case you don’t believe me, here are a couple real-life examples of this plan in action:
One of my employees recently told me about a deal from this fashion retailer. She was initially drawn into the store by a deal on shoes, but after she purchased the shoes, they gave her a ten dollar credit to use on anything in the store. The credit expired three weeks from the purchase date.
I thought this was a brilliant strategy. Not only would it increase the amount of time customers spend in the store (who wouldn’t want to spend their free money right away!), but it would also increase customer satisfaction and force them to return sooner than they normally would. Plus, I’m willing to bet the average ticket price at Charlotte Russe is over ten bucks.
This crafty craft store offers their customers 50% off an item of their choice if the customer purchases their next item within a week. Talk about a way to boost your reorders! Especially in a niche market like art and craft supplies, this is an excellent way to build a large customer base and keep them happy and spending, too.
So use these examples as inspiration to launch your own coupon campaign and get your customers spending more, coming back sooner and leaving satisfied!
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She has been named Tampa Bay CEO of the Year, Business Woman of the Year in Tampa Bay and has been featured on MSNBC's "Your Business." PostcardMania is an Inc. 500 and 5000 company and has won awards for creativity, best business practices and leadership. Find Joy on Google+
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