Offering mobile coupons to your SMS marketing program subscribers is a great way to encourage them to make a purchase. The important thing is to find a coupon that entices them to take action. If you are stuck for ideas, try one of the following common mobile coupon options.
Send your texting campaign subscribers a coupon for a free gift and see your sales go up.
The word "free" is a powerful motivating force. Even free gifts with small monetary values can have a significant impact on a person's decision to buy something from you. That is why it is so common for businesses to offer a free gift, especially one with purchase.
If you do offer a free gift with purchase, make sure that the math makes sense for your products. For example, if you are a business that sells high-end luxury items, then you might be able to give away a free gift valued at $50 on purchases over $200. However, if you are a bookstore, then you might want to give away a free bookmark or book light with a value of under $5 with any purchase of $15 or more.
The most important component of a free gift coupon is that the gift is something that your customers want. The monetary value is not the deciding factor. It is more important that it is something that they might have bought. This makes it feel even more like a deal when they get it for free.
Percentage Off a Purchase
Another common coupon deal is a percentage off of a purchase. This might be a blanket 30 percent off any purchase, or you might decide to make it more specific — such as 30 percent off of purchases of $50 or more. To determine the right amount, you need to know how much you can shave off of the price without sacrificing your profit margin. These types of coupons will bring in more business, which helps your bottom line. However, you do not want to give such a large percentage off that you ultimately lose money.
Conversely, you do not want to have a deal that is so small that people barely see it as worthwhile. Although you might want to save a 50 percent off coupon for certain times of the year when you are trying to clear merchandise, you also do not want to offer customers too little motivation, with just 5 or 10 percent off. Twenty percent is a good starting point for a strong coupon.
It is also beneficial to have an increasing percentage off based on how much people buy. For example, you could have 15 percent off of a purchase of $50 or more, and then have that increase to 25 percent for purchases of $100 or more. This type of coupon rewards customers for spending more money, which makes them feel like they saved more while helping you to make more despite the higher discount.
Dollar Amount Off a Purchase
A similar coupon is a dollar amount off of a purchase rather than a percentage. For example, you could offer $15 off of a $50 purchase. Some customers will see a dollar off as a better deal than a percentage, even though it is almost the same thing. If someone were to spend $50 at your store and get $15 off, it is a 30 percent discount. If they had a 30 percent discount and also spent $50, they would pay the same.
One aspect of this type of coupon that is nice is that the business typically comes out the winner. If someone has a $15 off of $50 coupon, then it is likely they will end up spending much more than just $50. This decreases their savings, but the customer still feels as though they got a deal. Therefore, at the end of the day, you have won in two ways, through a more beneficial customer experience and increased profit.
Move excess inventory with a special exclusive BOGO sale to your texting customers.
Another highly motivating coupon deal is buy-one-get-one or BOGO. This can be BOGO free or BOGO for a certain amount. Although buy-one-get-one-free is the more common deal, it is also possible to have deals such as:
- Buy one get one for $5 (or another amount)
- Buy one get one for half off (or another percentage)
Either way, this deal works well because it motivates the customer to buy more. They only get the discount if they buy in pairs. Therefore, if they want one thing, they will try to find something else to buy to get the discount. It is a great way to help move product at the end of the season while maximizing your profits on the sale.
These are the four most common types of coupons you will see in SMS marketing programs. You can easily take these formulas and create your own spin to it that resonates with your customers and reflects your business identity.
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