Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™. Today is Recon Thursday and I am going to share my thoughts on trends in coupons, which seem to be everywhere these days.
Numerous
types of coupons are available in newspapers, online, directly from merchants,
etc. Daily deal websites such as Groupon
offer discounts for local and national companies. Groupon enables businesses to market
discounts to broad audience. The
question is, should they?
The
proliferation of coupons and product discounts has created a coupon culture
among consumers. This is a pitfall for
small businesses when they rely on coupons as a means of driving traffic. However, there is a right place for coupons
in your marketing strategy, such as introduction of a new product.
At Once a Day Marketing™ we encourage you
to brand and market what makes your product unique in the minds of your
customers. A coupon is a pricing
strategy. Extensive use of coupons may
create an expectation on the part of your customers for a discounted
price. This results in moving your
product on price rather than the value proposition that you offer, which is the
reason you are in business.
Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com. Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.
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