January 19, 2021

Coupons/Discounts

Good Morning,
Happy New Year; Welcome to 2021!
I saw it on television, heard it on the radio and even saw it in print. Businesses trying to get customers, especially first time customers. The businesses offered discounts/special coupons. These specials were for new or first time customers only.
I have a problem with couponing or discounting of one’s services in normal times, but I will write about that at a later date.
There are two points I would like to make:1) When offering discounts/coupons, don’t treat your current customers, the ones who are keeping you in business, like chopped liver! Most businesses do. Don’t be a business that only cares about NEW CUSTOMERS! Show your current and past customers that you appreciate them.
You can offer them advance notice of the special, or a better offer just for them. At least give them the same offer.
2) When offering discounts or specials, do it infrequently and only under very rare circumstances (like we are now facing) to build your business. As the owner of a multi-store retail chain that I was a store manager for used to say at manager meetings,”If you live by the coupon you die by the coupon.”
If you would like to know more about how to reward your current customers and gain new ones, just contact me.
Till next time.

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