If you’re a marketer about to jump on the social coupon bandwagon…
…might be worth reflecting on this for a moment…
Now, I’m not suggesting that you “Be afraid, very afraid” of social coupons, but…
…keep in mind these wise words…
“Marketers should consider any form of deep discounting program carefully. Think about the type of customer you’re attracting because a huge spike in one-time deal hunters who will never pay full-price may not be valuable in the long run.
Social coupons make long term sense if they expose your brand to customers who will want to keep buying from you, even when you’re not on deal. Start with a plan to convert the deal hunters to long term customers.”
Here’s the link to the whole post “social coupon bandwagon”.
In other words, social coupons (or any other form of deep discounting, for that matter) are no magic bullet solution.
If you already have an effective marketing system in place and a way to convert one-time buyers into long-term customers…
…then social coupons may be a great way to boost your business.
As always, the way to find out is to TEST…
…the great strength of direct response marketing.
I’ll conclude with this comment from the great Claude Hopkins, taken from chapter 13 of “Scientific Advertising” – “Use of Samples”.
“Give samples to interested people only. Give them only to people who exhibit that interest by some effort. Give them only to people to whom you have told your story. First create an atmosphere of respect, a desire, an expectation. When people are in that mood, your sample will usually confirm the qualities you claim.”
I’d add, provide a reason why you’re making this generous offer.
Hopkins was strongly against giving out samples indiscriminately. Doing so, cheapens your product or service. For “samples”, read “any form of deep discounting”. Use this tactic wisely and in a strategic context…building a list of long-term, happy customers.