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Why vouchers are worthwhile for companies

According to Google Trends, "voucher" has been a frequently searched term since 2010 and is not only very popular during the Christmas season. This can be proven with the search volume of the word: With an average of 40,500 hits per month, the search word “voucher” alone is at a consistently high level all year round. The combination of the word “voucher” and a shop name can lead to a significantly higher search volume. No wonder, then, that more and more portals are now being presented on the Internet that collect and communicate voucher codes from various providers.

As a marketing tool, vouchers will continue to gain in popularity and importance over the next few years. More and more companies are following this trend. Why it is worthwhile from a supplier's point of view to use vouchers as a marketing trend can be seen in the opportunities that vouchers bring with them:

  • Acquisition of new customers: Potential customers are encouraged to buy with the voucher
  • Maintenance of regular customers: Voucher customers become regular customers, are buying more and more and, at best, recommend the business to others
  • The level of awareness of the company increases and brand awareness can be increased
  • New product areas can be successfully established
  • Increase in sales: Customers are tempted to buy more with the voucher than they would have done without

Voucher marketing - who needs it and who should use it

Voucher marketing is an attractive method to position new companies on the market. This possibility is proving to be particularly promising for recently founded young companies. The so-called start-ups are in the first phase of their existence. For them, customer acquisition is the top priority. With the help of targeted discount vouchers, new customers can be quickly impressed by your own product or certain services. High discounts, which are published on high-reach platforms, sometimes ensure that potential buyers are reached who were not familiar with a product before but would like to try it out because of the discounts.

Vouchers and discount campaigns can also ensure promising success for established companies, because they focus on the customer in two senses. On the one hand, it is about retaining existing customers and retaining them in the company over the long term. On the other hand, these companies also aim to increase their brand awareness. And that succeeds primarily through the acquisition of new customers.

Voucher marketing, but how? These strategies promise success

The planning of a marketing campaign with vouchers starts with a detailed analysis and the definition of the goals. Here it is important to track the buying behavior of your own customers and examine the situation of competitors. The following questions, among others, should be explored:

  • Which products do my customers buy?
  • Which target groups should be reached?
  • How should the discount be calculated?
  • How can I differentiate myself from other competitors?

Once all of the questions have been successfully investigated, there are still a few guidelines to keep in mind that every company should follow with regard to effective coupon marketing. To do this, companies must be aware that discounts below 20 percent usually do not appeal to customers. If the leeway is between 20 percent and 30 percent, buyers buy more often.

The duration of the vouchers should neither be too short nor too long, because both lead to dissatisfaction on the part of the customer. A period of up to a month is optimal. Actions on certain seasonal occasions also prove to be useful.

It is important to ensure that the target group is not restricted. As soon as vouchers relate exclusively to high-priced items, potential customers get a wrong impression of the range and shy away from buying. It is important not to lose contact with customers even after the discount campaigns. With the help of newsletters, companies can give customers the chance to get bargains and still be among the exclusive customers.

Conclusion

Vouchers are becoming more and more popular as a marketing tool. The goals are clear: Acquiring new customers, increasing brand awareness, increasing sales. Vouchers can be of help to companies. However, this requires a clear strategy from the company's online marketing managers. Vouchers should never be given out at random just to compensate for the current low in sales. These measures often lead to the opposite effect.

Author:

Author: Christine Welvis has been working at VoucherPony since 2013 in the PR and Marketing department. The Berlin-based voucher portal, like the bargain portal MeinDeal, belongs to MenschDanke GmbH and offers its users a daily changing range of more than 5,000 free vouchers and voucher codes for over 2,000 online shops.