Which Type of Coupon is Best for Your Business? 9 Discounts to Consider

If you thought coupon-cutting was fun, coming up with promotional ideas using data and strategy will flow through you naturally.
Types of Coupons? Which Type of Coupon Is Best For Small Business

If not, then you probably use an app like RelyCircle or mail-out vouchers from programs such as ValPak to swipe ideas from local competitors.

Before deciding which type of coupons you should implement for your business, take some time to think over‌:

  • Identify your brand’s image?
  • Are there any current issues about your brand image?
  • Are you receiving a lot of negative reviews?  
  • Is there critical word of mouth on social media? 
  • What products or service programs are not selling? 

If your small business marketing plan is bringing in customers, then using coupons is the next step to build-up your business’s bottom line.

It’s also a perfect way to thank the customers that helped built up your business to this milestone. So Which type of discount is going to bring sales up the extra mile?

BOGO Coupons

Coupon Example
Buy One pair of Shoes, get one pair half off.
Reduces the cost of buying more with buy-one, get-one coupons.

Coupon Codes

Coupon Example
15% when you book an order online with coupon code.
Drive online sales with codes redeemed at checkout.

Percent-Off Coupons

Coupon Example
50% off your entire order.
These offers discount a percentage of the total cost.
50% OFF, Example Coupon

Low Price Point Coupons

Coupon Example
$25 a month gym membership with no contract.
Start small and see big returns by advertising low prices.

Rebate Coupons

Coupon Example
$25 mail-in rebate with purchase of selected appliances.
Create immediate excitement with mail-in rebates.

New Customer Coupons

Coupon Example
30% off initial service.
Drum up new business with a new customer offer.

Free W/t Purchase

Coupon Example
Free bed frame installation & delivery with purchase.
Offers a complimentary service at no additional cost.

Dollar-Off Coupons

Coupon Example
$25 off $150 or more.
Discounts a specific dollar amount off the total cost.
$10 OFF, Example Coupon

There are really only 3 forms of coupons

  • Physical Coupons: Like in magazines, newspapers, mail-out cards, and in-store brochures. 
  • Web-based Coupons: Like in emails, apps, and e-commerce websites
  • Promo Code Coupons: Like in emails or SMS text message

Which coupons work best in which situations?

Choosing between the physical or digital coupons depends on the business, but should always be cohesive with your overall marketing strategy.

Physical coupons 

Usually require a lot of planning and are more costly because we will print them on physical material. 

  • So this type of coupon is not the best for smaller campaigns like “free branded key chain with purchase of $30 or more”.

Just remember that physical coupons can combine with online promo codes (For a hybrid approach).

Online coupons 

Are less costly but still require planning and should be tailored to your businesses goals.

  • So this type of coupon really shines as an add-on to a purchase or lead magnet for signing up to your businesses email list.

One caveat is that when a potential buyer sees a coupon code option in your online store’s check-out, it might make them abandon cart in search of long expired coupon code.

Physical VS Digital Coupons

Wrapping it up | Different Coupons For Small Business

Whether a hard-copy or through software, coupons are an excellent way to find new customers and reward existing customers for their loyalty.

The stats don’t lie, 63% of consumers say that they want coupons to be more available, and 90% of consumers use coupons.

Don’t Forget About Hooking Up Loyal Customers

Have you ever kept going back to a store because of their loyalty program?

It’s nice to reward top patrons with loyalty discounts or offers.This type of coupon is in common use at restaurants to keep customers at a low cost.

Example being after 10 punches, get you a free sandwich.

Our Tips For Coupon Clippers

  • We can often use vendor coupons in combination with their store coupons.
  • Some stores accept a competitor’s store coupon. (Try It Before You Knock It)
  • No matter the medium, coupons always have a duration of time that they can get redeemed. So remember to look over the fine print for the expiration date.

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Joseph C. Santiago,
B2B Sales & Digital Marketing Freelancer
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