A guest post from Global Savings Group. From time to time, our partners and clients submit posts to our site for publication. We are pleased to publish a range of these opinions, which reflect the POVs of the author(s).
Modern coupons have evolved far beyond the paper trimmings that were once associated with promotional deals. Today, most coupons are digital and many are delivered to highly targeted audiences. Coupons are also very influential during the consumer decision journey – they can even help in building brand awareness and brand loyalty.
A recent study from Valassis indicates 90% of consumers want to use coupons and deals during the buying process. People love coupons. Yet despite such widespread usage by consumers, many brands have misconceptions about both coupons and the coupon industry. These misconceptions hold back the industry from realizing its true potential.
In this blog, I’m going to walk through some of the major misconceptions, and see why they’re ill-founded.
Misconception #1: Only Low-Value Customers Use Coupons
Coupons have been (wrongly) associated with low-value customers – customers who don’t contribute much to your revenue figures but may take up a large chunk of your customer acquisition costs. Nothing could be further from the truth. Digital couponers of the modern day are smart, savvy, and most importantly, they are cost conscious. As The Street aptly concludes:
“The popularity of the movement once affiliated with the budget-conscious middle class now cuts across all gender, age and socioeconomic groups. We see that