Money Off Coupons
Money off and discount coupons
Money off and discount coupons. How couponing can increase conversion and drive up ROI for your brand.
“According to an August 2023 Vericast study, 66% of respondents believe that in today’s economic climate, the value of coupons and discounts is more crucial than ever before.
Additionally, 26% are spending more time looking for coupons and discounts online and in print due to the economy and their current financial situation.”
Consumers are increasingly price sensitive and when times are hard, pitching your product at the right price point is absolutely critical.
Differentiating your brand in a highly competitive marketplace can be challenging. But time honoured tools such as couponing could be just the thing to drive trial and conversion.
What are money off coupons?
Money off coupons are a device to incentivise a customer to buy goods or services at a lower price or for free.
What are the benefits of using discount coupons?
Coupons deliver very efficient ROI, are easy to plan, manage and measure. Coupon campaigns can be targeted and scaled to meet almost any marketing objective. Consumers are incentivised by coupons as proven in all market research on the subject and by the prominent position they hold in all major Retailers loyalty programmes.
The benefits of using discount (or money off) coupons are numerous and include:
- Raising brand awareness to support new product lines and incentivise purchase
- Promoting specific existing product lines tactically to achieve new users or loyalty
- Re-engaging lapsed customers
- Support products in specific Retailer catchments
- Counteract competitive brand advertising by activating purchase
What are the different types of reward available?
Broadly speaking, coupons fall into one of two different category types:
Type 1. Money off – giving customers incentivised savings and creating the perception that if they don’t use the face value of a coupon it will otherwise be wasted.
Type 2. Free product – Although slightly more difficult to manage coupons can be used to drive trial through offering a completely free product. This works especially well in niche markets and brands with lower household penetration.
How effective are coupons?
A 2018 report by Inmar Intelligence (Inmar Shopper Behavior Study) found that 83% of consumers reported that coupons were a reason for a difference in their shopping behaviour.
39% bought a product much sooner than they would have planned because of a coupon.
And 38% reported buying more than they planned to because of a coupon.
How can money off coupons be distributed?
One of the attractions of money off coupons is that they can be distributed to the customer in a variety of different ways depending on your marketing objectives.
- On-pack coupons either for repeat purchase or related products
- Door drop leaflets with a coupons delivery very high media impact
- Printed coupons in third party magazine and newspapers offer volume of niche targeting
- Inserts i.e. Print titles, fulfilment packs and subscription boxes
- Direct mail coupons, either through paper of digital delivery
- Merchandising coupons direct to customers in store
- Customer services coupons to reward or placate customers.
- Through the myriad of Retailer managed loyalty programmes (segmented audience)
What can a money off coupon look like?
How do money off coupons work in practise?
The following illustration shows that the brand owner need only be involved in step 1 – 3 below, with everything else being handled between the retailer and MRM.
How to start your coupon campaign
By getting in touch with MRM at an early stage, we can offer bespoke solutions and advice which will positively aid the planning and execution of your coupon campaign.
Get in Touch
Call us on: 01858 410510
Email: enquiries@mrm.co.uk
What coupon services does MRM provide?
MRM has a long history of running coupons campaigns for brands and can handle all aspects of couponing, including:
- Coupon set up (including generating the barcode & coupon, test scanning once the artwork is ready & expert advice)
- Coupon Printing & Distribution
- Coupon Redemptions: once the coupon is used by the consumer, the various retailers return the coupons to their appointed handling house. From here they are sorted and sent to the brand owners coupon redemption centre. If this is MRM, we will process by sorting and scanning the coupons. This generates a monthly retail reimbursement based on the coupon face value, handling allowance and postage contribution. A further monthly invoice is raised to the MRM customer or brand owner with back up details on the volume of coupons processed
- MRM Couponline: Access to our dedicated web portal for reports and day-to-day visibility of activity
Digital coupons
MRM has developed a web based coupon, enabling consumers to print coupons at home.
Suitable for individual distribution or mass distribution to identified recipients.
For more information on web coupons.
For more details on digital couponing.
For more details on customer care coupons.
Providing Coupon Services for 1,000’s of Brands
From Coupon Experts MRM
Download our latest white paper which explains the digitalisation of coupons and what the future of holds for brand managers, manufacturers and retailers alike. Learn about:
Digital Coupons
Digital Distribution
Validated Redemptions
Supporting Services
Loyalty & Reward Schemes
Points based and tiered loyalty programmes
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