Page 157 - 101 Ways to Market Your Business

101 WAYS TO MARKET YOUR BUSINESS

65 If you are going to offer a discount, make it
a good one

Discount coupons are rapidly becoming a way of life. In
America it is a long-standing joke that nobody pays retail.
Every time you turn around somebody is giving you a
coupon of some description as an incentive to buy their
product.

This trend is increasing and in all likelihood it will
continue to grow in popularity simply because consumers
love a bargain.

Like shop-a-dockets, the success of discount coupons
depends on the offer you are making. If your proposed
discount is less than 10 per cent your response will be minimal.
Another option is to value-add the offer; for example, buy
one get one free. Another option is to promote a price for
an item and use that as the promotion; for example, develop-
ing films—36 exposures for $6.99. The normal price is
not mentioned, neither is the percentage discount.

Be imaginative when participating in discount coupons.
If one offer does not appear to get results, try varying the
offer or the discount or the value-added option.

Marketing is about continually trying new ideas and
refining ideas. If you hit upon something that works, keep
using it until it stops working. Be patient with discount
coupons. Do not expect thousands of people to come
rushing in overnight—for some reason it takes time for the
coupons to filter through to the community.

Many small business operators use cut-out coupons in
their newspaper advertising. This can be very effective as
long as the advertisement is easy to read and uncluttered.
Is the offer good enough for someone to take the time to
dig out the scissors and cut the coupon out? Restaurants
in particular tend to take advantage of this type of coupon
advertisement, but it could work equally as successfully for
many other types of small business.

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