Discounting products will help attract customers to your business. Did you know that 96 percent of online customers have used a coupon or voucher within the last quarter, according to Investopedia? However, you’ll need to decide whether you want to give your customers coupons and vouchers, or prizes when you create your YepTix marketing game.
As an example JC Penney, the enormous American corporation that sells almost everything, tried to eliminate providing coupons to its customers in 2012. It caused a quick and not insignificant drop in their online profits of 23 percent. This result is interesting when you’re considering strategic growth to your business against a dent in your profits.
Discounts and profit margins
One of the more obvious downsides to customers using coupons is the cost to your business. Giving discounts means less profit for you. Your primary consideration needs to be whether the new customers generated by coupons and vouchers will increase or decrease your current profit margins? Will the game prizes encourage new, past and existing customers to return to your website? Generally, discounts and prizes attract volume sales and most businesses can afford them when managed wisely.
Maximum exposure of coupons and vouchers
A YepTix game solution is an excellent way to get your coupons and vouchers to a maximum audience. Imagine what “word of mouth” advertising you could achieve if someone gets their product at an unbeatable price because they won a voucher on your game.
The main benefit of introducing coupons, vouchers or prizes as part of your game is that it’s an excellent way to introduce a new product. It’s also a fantastic way of getting rid of the unwanted or outdated stock that’s taking up valuable space in your warehouse or office. Think about something that may need upgrading at a later date and something only your company provides. Depending on your business consider offering free services as part of a product they may have clicked on or viewed. You could also offer a product that a customer might want to match up with another product in the range. For example, if they get an excellent deal on a couch, they might want to buy matching accessories such as cushions and curtains. All of these things should help to increase rather than decrease your profits in the long run.
Drive customers to your website
The bottom line into what to offer as the prize for your YepTix game is to develop a prize strategy that drives repeat custom to your website and also increases your sales per consumer. We offer you a complete online marketing strategy, with a simple and easy registration process. YepTix is completely pay as you go, so there are no upfront costs or credit cards needed when you sign up. Where else can you buy an interactive marketing service for as little as £1? It doesn’t matter if you’re just starting out on your business journey or have years of advertising experience behind you. Our interactive marketing game is affordable and available to everyone. Register today to get started on an exciting marketing campaign that will be the envy of your competitors.