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In many cases, you can use not only store and manufacturer coupons, but “money-off” coupons as well (such as coupons that offer $5 off of a purchase of $20 or more). While it is always a good idea to find ways to operate efficiently, if you feel forced to unnaturally lower your costs, you could easily cross a critical line where your perceived value takes yet another hit. Is Now a Good Time to Offer Discounts? If you have a new product or service, then discounts and coupons are essential to attracting new customers. Coupons for business can be used to stimulate customer interest in new or slow-selling products. The truth is we live in a place where coupons and offers are a must for a small business. If you think that your business is not going to reach its sales goals, you can try to boost sales by offering discounts. As a small-business owner, you can ensure your customers get one by using one of the many available sales promotion tactics. Everybody, it seems, loves a good deal. GENERATE REPEAT BUSINESS Coupons can encourage consumers to make a repeat purchase. Coupons help you establish relationship with customers and advertise your business. Consider the following: 1. Groupon is a solid advertising platform, has a good reputation among consumers, and is easy for business owners to start using. Choosing the right time to offer discounts can make a big difference in the success of your promotional strategy. This said, most small merchants struggle to apply discounts to their inventory, and voluntarily rolling out a coupon campaign can be both costly and take away from money to be made. Confidence for First-time Buyers. In order to help you devise a plan to use coupons and discount marketing for your business, let’s take a look about the science behind it all. You can win back your customers that have been lured away by your competitors easily by the use of a well planned coupon use. Yet, while they may be surefire ways to attract attention and bolster sales, even the simplest sales promotions cost money and require a deft touch. If, however, most of your sales are generated based on events, discounts or other promotions, coupons may be good choice for your business. Now is a good time to offer discounts because of a number of reasons. Offer a discount on their next purchase, and you will be at the top of their shopping list. The reality is that for most, it takes a good offer to get a person to come in for the first time, and then it takes both a good product and good service to keep the customer from leaving to a competitor.. pssst….big tip here for those of you who are restaurant owners …. ... Groupon keeps 50 percent of the revenues from each coupon deal. Group buying can make good business sense, if you design the promotion just right for your company. Extreme coupon shopping typically involves combining store sales with manufacturer coupons to get items for free or very cheaply. Coupons can help revive old customers. Consumers pointedly look for and use coupons to save on their purchases, and businesses benefit from offering coupons from helping to build brand loyalty to encouraging repeat business from consumers. In the short term, Groupon (and similar sites) can be a powerful and effective way to generate new leads for your business. Coupons help marketers grow market share, increase sales volume, sell faster, cultivate loyal customers, and drown out competitor advertising.