Could Coupons Kill Your Business?
Restaurant owners and small businesses, when you run an organized coupon campaign, the public views your discounted price as your “true” regular price. If you’re a new business, the situation is even worse. Potential customers aren’t very familiar with your product or prices so the lowered price offered by the coupon becomes their standard measure of your value.
These customers will only patronize your business when a coupon is available and will not become regulars.
For existing businesses, your established regulars will catch on to your coupon promotions and behave the same way. In a short period if time, you will run out of regular customers who used to pay full price and will have to permanently lower your prices to keep cash flow. You will be locked in to the coupon program and will need to continuously prospect for new business.
It’s a downward spiral.
At SplashWrench, we have creative ways for you to promote your business that add real value for your customers and builds loyalty.
Contact us to make an appointment to discuss your business challenges.