Even to apply coupons on Father's Day, you need a strategy! It's not enough to just create random product coupons and promote them. The selection of products must be smart so that people are genuinely interested. So, check out some strategies for you to start applying right now in your physical store or e-commerce!
Evaluate history
To choose the right products, you need to evaluate your sales history for this period of the previous year. If possible, look over the past 3 years to see if these patterns are recurring or not. If there are patterns, bet on them to create your coupons. Choose the best-selling products.
Competitor research
Competitor research is not about spying on what the store next door is doing or how they are advertising. It's about analyzing the largest and strongest competitors you have, those that are better than your company. If it's a local business, it's the strongest company in the area; if it's online, it's the strongest company in your category.
Companies that are ahead, if well observed, can serve as a shortcut for you. Get inspired by the methods they use to grow and build something different with that foundation. In this way, you won't be walking a blind path. Large companies usually conduct in-depth research before taking each step, as the financial investment in each action is very high. Use this to your advantage.
Complementary products
Betting on coupons for complementary products is efficient to stimulate later recurrence. For example: Your store might sell a coffee machine that requires a unique capsule. Then, you'll offer a very good coupon for this product, and the customer who buys it will keep returning to your store for months or years to buy the coffee capsules. This method can work with various types of products and even services.
Focus on marketing
It has already been written about how to use emotion to win over a customer, but that alone is not enough to guarantee a good sales performance. Marketing also needs to focus on the right offers, those that the public is already predisposed to buy. Besides, marketing must include your best offer for Father's Day.