Jacquelyn Lynn, Business Writer, Ghostwriter

5 Tips to Market Effectively with Coupons

Do you use coupons to promote your business? In the first half of 2011, coupon redemption volume reached $1.75 billion despite a decline in coupon distribution, according to NCH Marketing Services, Inc. Today’s consumers, whether businesses or individuals, are value-oriented and looking for deals.

 

There are pros and cons to coupon marketing, but if you want to try it, or if you know coupons work for you, these tips will help maximize your coupon campaign:

 

1. Make a clear, attractive offer. Discounts (either a specific dollar amount or a percentage) are the most popular coupon offer, but you could also offer bonuses (“buy this, get that”) or even something for free (information or an inexpensive item for coming into your store or visiting your website).

 

2. Use brief, bold headlines. Readers should be able to know at a glance what you’re offering, or at least be teased enough that they want to read more.

 

3. Include complete details. At best, an incomplete coupon won’t be effective; at worst, it will generate more headaches than new business. Keep in mind that not everyone will agree with what you think should be understood or assumed, so tell them everything they need to know. If applicable, be sure to include:

 

• Expiration date. Make it reasonable for both you and your customer. Give your customers sufficient time to take advantage of the offer within a timeframe that works for you. Expiration dates create a sense of urgency and also prevent someone from taking advantage of an old coupon that would be difficult or costly for you to honor.

• Quantity limits. Your customers should be able to buy enough to realize value, but not so much that you are cleaned out of the item or are forced to take an unacceptable loss.

• Availability restrictions. If the offer includes a special purchase and you don’t intend to restock, add language such as “while supplies last.”

• Location and contact information. Let people know where you are and how to reach you if they have questions.

• Other restrictions. Be clear on any other restrictions you wish to apply, such as “one to a customer” or, in the case of restaurants, “one coupon per table.” If the offer is a “buy one, get one at a discount” deal, be clear about which item will be discounted (generally, it’s a second item of equal or lesser value).

• Redemption instructions. Tell customers what they have to do to redeem the coupon. For example, restaurants may ask that coupons be presented at the time of order so the final check can be calculated correctly the first time. If customers will redeem the coupon on your website, tell them when and how to enter the coupon code.

 

4. Use good design elements. Your coupon is as important as any other graphic element in your marketing package. Be sure it includes your logo, appropriate images (such as a photo of the product), and presents the benefits of your offer clearly. Remember to use white space effectively; a cluttered coupon is hard to read and less likely to be used.

 

5. Capture customer information. Consider asking customers to provide their name, phone number, address, and/or email address on the coupon, then use that information for your ongoing marketing efforts.

 

Bonus tip: Before you send your coupon to the printer, proofread, proofread, proofread! If you change anything at all, check the entire coupon to make sure other copy wasn’t affected by the change. Don’t risk potential damage to your image, customer relations, or profits by distributing a coupon with mistakes.

It's Party Season - Are You Liable?

Let the Parties Begin

But protect yourself from liability during the holiday season

 

Once the holiday season is in full swing, along with the fun, the parties, and the gift exchanging comes some increased exposure to personal and business liability. While you don’t want to turn into a Scrooge when it comes to holiday celebrations, you still need to reduce your potential risk. For example, it’s not unusual for hosts to be sued when a guest drives while intoxicated and is involved in a crash. And drunk driving is not your only concern. As alcohol consumption increases, inhibitions tend to decrease. If you’re hosting a company-sponsored party, you’re at risk for claims related to sexual harassment, sexual assault, and milder forms of misconduct, including inappropriate behavior, off-color comments, and even physical altercations.

These tips will help reduce your risk of liability during the holidays and the rest of the year:

• When you’re hosting an event, limit how much you drink yourself; be sure you’re always in a state that will allow you to monitor the activity.

• Keep an eye on alcohol consumption at parties, and be prepared to take steps to stop people from driving if they are impaired. Encourage designated drivers and arrange for taxis if necessary.

• Pay attention to who is drinking and don’t serve alcohol to minors. Doing so could not only expose you to financial liability, you could face criminal charges as well.

• Hire a professional bartender. Don’t let employees—especially supervisors or managers—serve drinks or even pour their own. Be sure the bartender knows to alert you if someone needs to be cut off.

• Use strategies designed to reduce alcohol consumption, such as serving only beer and wine rather than hard liquor; have a cash bar or ticket system rather than an open bar; bring the alcohol out in intervals rather than putting it all out at the same time; and set a cutoff time for serving alcohol, such as the last hour of the party, and switch to coffee and other non-alcoholic beverages.

• Consider holding your holiday parties in a restaurant or other location away from your work premises where someone else is responsible for serving drinks and monitoring sobriety. This does not completely relieve you of liability, but it does add an extra layer of protection that you don’t have when the party is at your place of business.

• For company parties, remind employees that while the party is voluntary and you want them to have a good time, your company’s normal workplace standards of conduct will be in force and misconduct at or after the party could result in disciplinary action.

• Serve plenty of food and make it comfortable for people to eat. If you’re serving buffet style, be sure the food is easily accessible and there is plenty of seating.

• Be sure holiday decorations don’t create hazards. For example, be sure items such as trees are secure and won’t fall over and that wires are hidden so no one will trip on them.

• Be pro-active with potential environmental hazards. Clear snow and ice from walkways, and warn your guests of any hazardous conditions. Some states and cities have ordinances that require landlords to clear walkways; check with your local city hall or state attorney general’s office to find out if you are subject to such laws and exactly what you have to do to be in compliance.

Avoiding liability during holiday parties is not complicated or difficult—and you should be doing it anyway. However, accidents happen, so be sure you have appropriate insurance in place to protect you and your company. Your insurance policy should cover any damage awards up to the specified limits (consult with your insurance agent, attorney, and financial planner to determine what limits you need), as well as paying for your defense should you be sued. Be sure you understand the limits of your liability and umbrella policies and that your coverage is sufficient on both your personal and business properties.

Of course, the best insurance policy notwithstanding, the easiest lawsuit to deal with is the one that never happens. So combine adequate insurance with common sense, and enjoy the holidays.

Corporations, Politics, Money, and Influence

A few days ago, the writer of an op-ed piece in the local paper said that we needed to get "corporate money" out of politics and suggested that the way to do that was through legislation. I disagree. We've got plenty of laws. We don't need any more of them. (Although I wouldn't oppose a law shortening the presidential election cycle, but that's another issue.)

That statement prompted me to write this letter, which was published in the Orlando Sentinel on Oct. 24:

Government should stay out of businesses' way

To get corporate money out of politics, we need to get politics and government out of corporations. As long as politicians are interfering with the way companies operate, companies will try to influence politicians.

Basic laws to protect worker and consumer safety and prevent fraud are one thing; that is a valid role of government. But complicated, conflicting rules that are time-consuming and expensive to implement and enforce are altogether different.

If the government would get out of the way, businesses could focus on growth, job creation and economic recovery, instead of trying to protect themselves from politicians who have never had to make a payroll.

Note added on Oct. 26:

In a recent Gallup Poll, 22 percent of respondents said that complying with government regulations is the biggest problem facing small businesses today. Businesses are forced to be involved in politics because what politicians do has such a tremendous impact on them. I'm sure every business owner who contributes corporate money to political campaigns would rather spend those dollars elsewhere -- and imagine what the economy would do if they could!

What Language is Spoken in Your Company?

No, this isn't a rant about English-only or bilingual workplaces -- it's a rant about corporate jargon sparked when I read an article by Laura Vanderkam, "Why you should cool it with the corporate jargon."

I understand how internal jargon develops and why using acronyms can save time if everybody understands the code -- but that's a big if. When people don't speak the language, you can get into trouble.

My own work history is a classic example. We used the acronym CWC at the first two companies I worked for (way back, before the internet). But at the first (a telephone company), CWC meant "customer will call," indicating there was a pending issue that the customer was going to get back with us on. At the second (a newspaper), it meant "cash with copy," meaning that an advertisement had to be paid for before it could be submitted to production. At the newspaper, nobody told me what CWC meant until I was responsible for running several unpaid ads.

A more recent example: A client sent me an email, ending it with "NNTR". I didn't know what that meant, so I asked. His response: "no need to reply."

Corporate jargon can also have a negative impact on customer relations. Is there anyone who likes it when the people who are supposed to be providing a service speak in a code you don't understand?

The trouble corporate jargon can cause is rarely worth the time it saves -- if, indeed, it actually does save time in the final analysis. Start listening to the language being spoken in your organization and make sure it's one everybody can understand.

 

13 Tips to Build Customer Loyalty

Satisfying your customers is not enough to keep them—you need to make them loyal so they’ll keep coming back to you instead of another supplier who does enough to satisfy them. Here’s how to turn your satisfied customers into loyal advocates:

1. Find out what your customers want and provide it. Don’t guess; ask them through surveys, focus groups, and at other contact opportunities.

2. Innovate. In addition to doing what your customers say they want, come up with new ideas that will give them what they might not realize they want. Of course, be sure to get feedback and make adjustments as necessary.

3. Dazzle them with service they’ll want to tell their friends about. Be so remarkable they can’t help talking about you.

4. Create a sense of belonging. Form “customer clubs” that offer special benefits and status.

5. Be responsive. Don’t make your customers wait for service—not on the phone, not online, not in line in the store. Take care of their needs immediately.

6. Make customers feel welcome. Greet people enthusiastically when they walk through the door. When they call, make it clear that you’re delighted to hear from them.

7. Set yourself apart. Differentiate your company through the quality of your products and services.

8. Always tell the truth. Never, ever attempt to deceive your customers in any way—they’ll find out, and when they do, they’ll leave and never come back. And they’ll let other people know they don’t trust you.

9. Keep your facility sparkling. How well you care for your store, office, or plant is a sign of how well you care about your customers. Remember that your website and other online locations are part of your facility—make sure they are organized, user-friendly, and accurate.

10. Reinforce and reward your customers’ buying decisions. Look for ways to let them know how wise they are for being one of your loyal customers. Develop “frequent buyer” programs, offer volume discounts, or provide other incentives that show how much you appreciate each order.

11. If it’s wrong, make it right. When you make a mistake, apologize and correct it right away—whether it’s your fault or not.

12. Communicate with your customers. Newsletters, social media, advertisements, in-store signs, and direct mail are just a few ways you can let your customers know they are valued.

13. Be patient. Building loyalty takes time, and you’ve got to be in it for the long-term.