As a business owner, it may seem counterintuitive to you that issuing coupons would actually have an immediate increase on earnings. Don’t coupons necessarily sacrifice short-term earnings for the added long-term value of your new customers?
No! Here’s how you can get both: Say your product goes for $100, but there are no coupons for it yet, so your entire customer base excludes coupon shoppers. You would consider offering a coupon, but fear that your current customers might stop spending the full rate for your offering once you do. The solution: increase the price of your product while offering a discount on it that is available only to those who will spend effort searching for it. Maybe your $100 product is now goes for $125, but you also offer a $35 discount. The key is that this discount is not easy to find; it’s only there if your customer looks for it. This not only gains additional price-conscious buyers who insist on paying “less than full price” all the time, but it creates the perception of even greater value than had the product been offered at a discounted rate without the coupon (to learn how this works, see anchoring).
Your product will now be found by those who start their shopping with a coupon search. Are you ready to add your printable coupon to get found by Michigan consumers?
