24% choose to shop at another brand\u2019s store over their preferred because of better advertised bargains<\/li>\n<\/ul>\nThis same report also uncovers some interesting data about brand loyalists, revealing that 78% are more likely to buy from a brand they wouldn\u2019t normally patronize, due to a coupon. While this number is surprising close to the amount of total consumers influenced by coupons (as mentioned in the first bullet point above) this next bit of data may come as more of a surprise: 43% of brand loyalists have a more positive view of a company that offers coupons over those who don\u2019t.<\/p>\n
While this recent report goes a long way to revealing the benefits of coupons, how do they compare to another common marketing offer used today: free information products?<\/p>\n
The appeal of coupons over information products<\/h3>\n
According to one marketing firm based in Waterford, Connecticut, a coupon was chosen 9 out of 10 times over an ebook when offered simultaneously. This raises an interesting question: why would a coupon be more effective than a free ebook or other information product? Let\u2019s look at some common psychology triggers at play here.<\/p>\n
Broad appeal<\/strong> – simply put, coupons have mass appeal. While information products are likely to be seen as more valuable to those with a higher education, a coupon can appeal to all income brackets – from the very wealthy to the very poor.<\/p>\nInstant value<\/strong> – to gain results from an information product requires a time investment and action. For example, if a customer receives a free 30 page ebook that explains how to get the best discounts on electronic equipment, he or she needs to read the book and then take action (and possibly create a plan) to gain the rewards of that time investment. Many consumers would rather spend their time doing something else, but a coupon on the other hand offers immediate value. Simply hand it over to the service provider, and you save money instantly. What\u2019s not to love about that?<\/p>\nUniqueness<\/strong> – the online marketplace is flooded with free information products. While they\u2019re still an effective tool to gain a prospect\u2019s email address, far fewer businesses offer coupons on their website, especially in the small business sector. By offering a coupon, you provide a free offer that immediately separates you from the pack.<\/p>\nThe point here is that just because a marketing tool is popular doesn’t mean it\u2019s the most effective. This is why we encourage you to review data and statistics before implementing any marketing technique in your business. It can save you a whole lot of time and also make your business stand out.<\/p>\n
Want more valuable business information that can help you connect better with your customers? Curious to learn how IT can help collect data more easily? Call us today to find out more.<\/p>\n
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From free information products such as ebooks to brochures and email campaigns, today\u2019s marketers have a wealth of tools and tactics at their disposal. While content marketing and social media garner most of the attention in the marketing world, it\u2019s easy to forget about tried and true techniques that are as effective today as they were twenty years ago. Recent data supports that one age-old sales tool in particular is still incredibly effective today, and even beats out some newer marketing tactics. What is it? Let\u2019s take a look.<\/p>\n