Since getting involved in helping small business owners get discovered online, I’ve had several owners say this to me: “I don’t see my business as the coupon type”.
In my study of the field of online marketing and online coupons, I subscribe to many opt-in email lists so I can receive info on what’s going on in the field.
One of the daily emails I get comes from Groupon. In case you’re cave isn’t equipped with radio, TV, or internet, and you don’t know what Groupon is, here’s a quick summary: Groupon recently introduced a new concept in online coupon marketing that’s been enormously successful. They promote one business a day in a number of major metropolitan areas around the country. The promotion consists of one coupon offer usually representing a discount of 50% to 90% off a business’ regular price for a product or service. Their success story is magnificent and they’ve been approached by Google who’s offered them an obscene amount of money for the business. Bottom line is, they have a great business model that works for their clients.
Today’s Groupon offer is by a company who seems to be a very unlikely “coupon-type” of company offering a very unlikely “coupon-type” of product: Aerial Photography.
Here’s a company that flies their airplane or helicopter over your home or place of business and takes pictures for you. A very specialized business which is not in very high demand and therefore isn’t in a highly competitive market. So why offer a coupon?
Here are some very good reasons:
1. Now I know the service EXISTS
2. Now I know how affordable it is
3. Now I can recommend it to someone else who I may think could benefit from it (like my favorite golf course or a realtor)
4. If I should ever find the need for myself to use this service, I may Google “Aerial Photogrpahy” and I’d probably recognize the company name and gravitate to it because I’ve become just the slightest bit familiar because of the coupon offer I saw once.
5. If you’re going to get a $356 value for $99 where one picture is included, do you think you might just go for a few extra prints, increasing the size of your purchase? You would probably take advantage and pay for a couple extra snap shots of your target.
Now, how does that relate to YOUR business that doesn’t see itself as the “coupon-type” of business? Can a coupon
A. Let people know you exist?
B. Know about your product or service and the price ranges you offer?
C. Give people the chance to recommend your business to others?
D. Plant a seed in my mind to use your business at a later date?
E. Get people to come, buy and possibly buy more than they’d originally come for?
It’s a statistical fact that people redeeming coupons spend MORE than people who aren’t. The increased purchase often creates profitability beyond the non-coupon holders’ purchases (a thoughtful and strategic coupon helps).
I try not to make these marketing tips too long to read but this illustration was just too good not to go deep.
I’m Andrew Mazer, creator of moderncoupon.com, the 21st Century-Style Small Business Marketing System. To get your small business discovered by more people, you’ve got to have an online marketing strategy. Mine works for you all year for about the price of a cup of coffee a day. Contact me at firstname.lastname@example.org