10 Minute Tea Talk - Episode #4 - Common Coupons | AUDIO
Today is actually a quick Tea Talk, just about 5 minutes. I'm working on talker faster for you guys :) So let's get into coupons, some common types, and how it can improve your views and sales.
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Whether it’s a holiday coming up right around the corner, you’re wanting a boost in sales, or you’re encouraging previous customers to purchase again, then I have some tips for you today that you can use right away to get more traffic to your shop, increase views and hopefully sales. Let’s jump into it.
So I first want to start off with the 3 common coupons you can use.
The first one is a holiday theme.
This can be big national holidays or even smaller, lesser known celebrated days if it goes well with your brand. Just the other day we had national dog day. If you make dog accessories or toys, why not use a day like national dog day to get some traffic your way and entice buyers to either purchase from you for the first time, or even encourage them to buy more for a discount or special bonus items.
Keep in mind, a coupon doesn’t necessarily have to discount your items. It can be "save on shipping", or "buy one get one half off”, something like that. My warning to you is, don’t go over your means, or cut into your profits as a small business. If you can’t afford to take the hit, then definitely don’t. Use other methods like, $3 off shipping or something else appealing that won’t break your bank and will bring in more profits than discounting your products.
Another option is to encourage previous customers to purchase again.
A simple, "save 10% off your next purchase", is always a nice little bonus after spending money buying from a shop. Especially if you liked the item you received and you plan on purchasing from them again. I’ve even seen thank you flyers say, “save 15% off your next purchase if you leave me a 5 star review”. It’s a nice incentive if you want to go that route, although that can be seen as somewhat controversial. But get creative with getting repeat customers. They will definitely be a good part of your business.
And my last tip is for simply wanting to boost sales.
If you’re having a slow month, or you have an excess of a certain items you want to clear out of your inventory for whatever reason, having a coupon just for that item or that specific purpose can help boost your sales. Couple this with a good graphic, the right hashtags on social media, and you can increase your chances of getting sales.
To add to this point, it’s always best to have an end date in mind to create some urgency. Simply putting together a coupon and not advertising when it ends is just money sitting on the table. Make sure that you have an end date in mind, or create some sense of urgency to get customers in your virtual doors. An example would be my last coupon that I shared which was, "save 30% on your next purchase by the end of this month, when you spend $50 or more.” A steep savings for the buyer, one I could afford to take a hit on, and created urgency by setting an end date.
Ok makers, that’s all I have for you today, So now, what type of coupon will you create today? Let me know in the comments of this post, tweet me or send an email. If you have any questions you want addressed in the next tea talk, send your inquiries to email@example.com. Ok makers, see you next time.