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Sound like hype but it is the truth; coupons can be targeted, are measurable and attracts new customers into a business.
The biggest and most renowned entertainment company in the world uses coupons and discounts to attract thousands of customers every day. The company’s marketers have leveraged the use of this advertising strategy to such an extent, that they allow almost every customer take advantage of their offers with a coupon. On face value, coupons and discounts on every product or service may not be an option for a small business owner, however, there is a valuable lesson small business owners should adopt from this company’s coupon marketing strategy.
Discounts and coupons get instant attention, even if the prospective customer is mildly interested, they have been known to tip the decision scale. Coupons are an immediate call to action, while simultaneously offering an extended low pressure decision making period. There is no, “buy now or lose this opportunity forever”. Coupons extended life span allows advertiser to cast a wider net.
Coupons are actually more effective when targeted to specific audiences. For example, coupons works best when they offer value to established groups or organizations such as high school or college students, employees of large organizations, or a demographic group within the population like senior citizens. The recipients in these entities feel a sense of entitlement or special advantage over everyone else. To learn more about coupons and the type of people using them and who don’t: Look Here
So why are more small businesses not using coupons?
The disadvantages of using coupons include.
This poses an obvious challenge to small business owners, the high investment in coupons ends the conversation. However, there is a solution, especially for non competing small business owners.
A common sense solution is for small business owners to simply organize themselves into a local networks or associations to produce a variety of co-op advertising opportunities. This is a lot easier if a proactive local business association is already in existence. In communities where there are no organized business groups it is almost impossible to coordinate such a programme. With the business climate in Trinidad and Tobago it’s rare for a small business to use this form of advertising.
On the other side of the local business scene, coupons are still used extensively by large corporations in Trinidad and Tobago. Companies like Kentucky Fried Chicken, Subway, and the rebranded Massy Stores use coupon advertising to market their products sporadically. They use coupons because they work.
The global company referred to in the introduction is Disney World based in Orlando, Florida. At Disney, and even in closely related industries like time sharing, coupons are a permanent marketing strategy. You can get a Disney’s coupon instantly at The Mouse For Less where you can register for coupon offers of every description. The Mouse for Less
I can hear it now… “That’s all well and good for Disney but what does it do for the price of butter for small business owners in Trinidad and Tobago?”
A Local Coupon Solution
TnT Co-op Coupon Advertising for Small Business owners group is a new initiative with the mission to provide small business owners access to an affordable and consistent coupon advertising strategy. One of it’s goals is to organize and coordinate Co-op Advertising campaigns in different cities throughout Trinidad and Tobago.
Small business owners in every part of the country can now have access to this innovative strategy. Co-op coupon advertising is just the beginning, we have accessed comprehensive advertising programme that provides a reduced advertising cost on television and the national daily newspapers, the Express and Guardian.
Our first step is to build a database of Trinidad and Tobago small business owners who understands the advantage of networking and co-op advertising. We have begun to attract a number of early adopters and enthusiastic small business owners but we need more to jump start the initiative.
If you are a retail or service small business based in Trinidad and Tobago, join our community, learn more about the local Co-op Advertising, and get free business building gifts. Go to Local Leads