Ever since Asa Candler issued that first coupon for a free glass of Coca-Cola back in the late 1800’s, shoppers have been in love with coupons. But the question that often comes up is, “Why do marketers even issue coupons in the first place?”
For one, they do it for the same reason that Mr. Candler did: coupons are a very effective form of advertising. What’s more, coupons don’t rely on impressions and influencers; they have a built-in proof-of-purchase mechanism because redemption can be tracked. So, not only can coupons influence purchases, the marketer can monitor the effectiveness of the effort.
For another, consumers love coupons! Research consistently shows that around 80% of shoppers use them on a regular basis.
And, while the financial reward is undeniably attractive, coupons also inject a bit of the “thrill of the hunt” into the process.
There are even some lab-coat types who will tell you that getting a good deal actually stimulates the pleasure centers of the brain!
And, now, new technology platforms are making coupon advertising even more engaging for consumers, more relevant to retailers and brands and more effective in reaching the shopper where she lives.
Some ask “Why coupons?” … I say “Why not more?”