Hello there! Are you a business owner or marketer looking to create effective coupon strategies to entice your customers? In this lesson, we'll be discussing the benefits of using percentages instead of dollar amounts and how to choose a winning strategy that appeals to your target audience.

Key Takeaway 1: Using percentages instead of dollar amounts can create a greater perception of value for the customer. Customers are more likely to feel like they are getting a better deal when they see a percentage off compared to a dollar amount off. For example, offering 10% off a product may be perceived as a better deal than offering $5 off the same product.

Key Takeaway 2: Choosing a winning strategy that appeals to your target audience can lead to increased sales and customer loyalty. It's important to consider your target audience and what type of discount would appeal to them most. For example, offering a free dessert may be more appealing to a restaurant's customer base than offering a percentage off their total bill.

Key Takeaway 3: To delve deeper into the subject, we recommend checking out the following books: "Couponing for the Beginner: A Guide to Couponing for the Uninitiated" by Jenny Dean and "The Ultimate Guide to Couponing" by Kelly Hancock.

Examples:

Example 1: A clothing store offers customers $20 off a purchase of $100 or more.

Example 2: Another clothing store offers customers 20% off their entire purchase.

Although the discounts are the same, customers may perceive the 20% discount to be a better deal. Therefore, offering a percentage off can lead to more sales and customer satisfaction.

Example 3: A coffee shop offers customers a free pastry with the purchase of a coffee.

Example 4: Another coffee shop offers customers $1 off any pastry with the purchase of a coffee.

Both of these coupons offer value, but the first coupon using a free item can create a stronger emotional connection with the customer and increase their likelihood of returning to the coffee shop.

In summary, when creating coupons, it's important to consider your target audience and what type of discount would appeal to them most. Using percentages instead of dollar amounts can create a greater perception of value for the customer, and choosing a winning strategy can lead to increased sales and customer loyalty.

If you're interested in learning more about coupon strategies and other effective marketing techniques, we invite you to sign up for our Door Knocking Master Class for Realtors. In this comprehensive course, you'll learn the strategies and techniques that have helped successful realtors grow their business through door knocking. Don't miss out on this opportunity to elevate your skills and take your business to the next level.