Coupons are a classic way of bringing in buyers and just having the option to save money encourages people to make a purchase. Despite many storefronts moving online coupons remain very effective as a sales tool. Here are two ways coupons help boost sales for businesses.
They Drive Sales
Just having a coupon can make an interested buyer visit a store. Before they may have been on the fence about it but a coupon gives them an incentive to at the very least take a look at what’s being offered.
In addition to bringing in customers, coupons also help convince them to complete the purchase. Many customers would not complete a purchase without the coupon giving them a good deal. Much of what customers buy are things they were going to buy or thinking of buying anyway and a coupon can provide that last push to complete the purchase by saving them money.
It Makes For Happier Customers
People like saving money. The act of finding a good deal and making use of a coupon to get it triggers many of the same chemical effects in the brain that are associated with a positive response. This results in higher levels of oxytocin and lower levels of sweat, a lower heart rate, and more relaxed breathing. 11% of customers report being happier when using coupons.
Big thanks to iThemes for this useful and eye-opening infographic.