It’s a tried and trusted means of generating extra sales (though not necessarily profit! At least in the short term)
Buy One Get One Free (Bog off) is designed to entice new customers to your products. It works because everyone likes to get something for free. The cost is small – just the cost of the sale not made from the free one – and particularly if this is made a time-limited offer (buy before the end of the month…) then the cost to the business bottom line will be minimal.
Money-off coupons are also a good way for many businesses to attract new customers. Research shows that people will go out of their way to use a coupon, proving that this method is successful in expanding your customer base. It’s a bit old fashioned but it works.
Coupons can also generate return visits. For example, if you give a customer a coupon for a discount to use on future business, there’s a high probability they’ll be back.
*For more suggestions on marketing strategies that can help you market your small business on a shoestring budget, please read previous posts or contact me via the website…