Ideas for Coupons & Offers

Coupon websites are growing in popularity as consumers are watching their spend (coupon websites were ranked first for growth in online category in November 2008 by comScore Media Metrics, with 35.6 million unique visitors that month).

I'm interested to hear about what you've done to entice new customers with offers. What creative coupons or discounts have worked best for your business? And do you distribute your coupons online (on your website or through coupon websites) or offline (Yellow Pages, local ads, etc.)?

Mia,

Coupon sites are definitely on the rise for obvious reasons, but for many smaller businesses it is hard to offer coupons or discounts when your margins are becoming increasingly thin.

One thing that I have noticed lately, and this pertains mostly to B2B relations, but I have encountered a lot more bartering of services instead of the exchange of funds to get things done.

For example, if I need business logos designed or some development work, I may find a designer or developer who is more interested in exchanging their service for some help in the areas of SEO and PPC, which are specialties of mine. This type of transaction is mutually beneficial because while no money exchanges hands, we both have our needs fulfilled.

As for customers, i always think it is a good idea to provide incentives for participation or bulk orders. This is similar to a barter in my mind. For example, if one of your loyal customers writes a quality review about your business online, in exchange you can provide them with a discount on their next purchase. You both benefit from the exchange.

I've seen retailers advertise their promotions on social networking sites like Facebook, and I have responded to these announcements. As a consumer, I like to search online for promotional codes and discounts prior to making a purchase. I love sites like retailmenot.com and ebates.com. However, I respond better to promotion postcards that are sent to my house via snail mail.

There are many forms to reach your market and should not be limited to coupons. Marketing strategies must include a whole of business approach and if your business takes in street trade then the s=goal is to balance between your e-strategy and that of the traditional methods. Not exchange money is fraught with danger in the business world. Nonetheless, if it satisfies the stakeholders fantastic. I would like to know how you record the transaction and measure its success?