I’ll Take the One That Spends Like Real Money

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I have three $50 coupons for a local men’s clothing store on my desk. Part of me is almost afraid to use them because the last time I went into this store to buy a suit, I ended up with two suits, a sport coat, two pants, four shirts, four ties, three belts and a bunch of socks.

The fact is that when you have a large dollar volume coupon, you are more likely to spend more money than you would with a “percent off” coupon that most companies use. By more money, I mean much more money.

Let’s use my coupons as an example. The $50 coupon represents to me real value – it is just like having a $50 bill in my pocket with the caveat that I can only spend it at the clothing store. Or, the store could have made the decision to give their customers 15% off a one-time purchase. The fact is the perceived value of the 15% coupon is less than having a coupon worth $50. More people will take the $50 to the store and use it since it is “like cash.” By the way, this tactic will work for you in an on-line store as well as a bricks and mortar store.

Both coupon tactics should get you a higher average sale. But, the $50 will get you a much higher sale than the 15% off.

Not convinced yet? Do what I do – TEST. That’s right, test both coupons. If you are doing it on-line build two lists and make sure the lists has the same type of customers in both. Send the emails for whatever it is you are trying to promote and give one list the $50 coupon and the other the 15% off. Then track the results.

Of course, make sure the people in your list all have given you permission to contact them. Otherwise, you are interrupting them and you are destroying the relationship you could have built.

And, if you’re not using email to talk to your customers – what are you waiting for? You’re very late!

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People do business with people that they know, like, and trust. Since we can’t pick or choose the “type” of person we are most likely to trust and like right away, we need to learn how to effectively with everyone’s personality style.” Learn how in this report and start increasing your sales right away!

Selling To The Four Personality Types

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