When it comes to offering coupons and discounts as a small business, it’s a great way to build trust with your customers. The first thing you need to figure out when it comes to coupons and discounts is how you can get a benefit from the promotion. You should also establish goals and tactics that will help you accomplish those goals. Finally, make sure to make changes to your strategy if the promotions aren’t performing as well as you had expected.

Key Takeaways:

  • There are drawbacks to promotions, but they can effectively bring in new customers and build your marketing list.
  • Avoid storewide discounts in favor of those limited to certain products.
  • Measure the success of promotions by tracking the usage of discount and coupon codes.

“If a customer feels like they have gotten a good deal on a purchase from your business, they are more likely to splurge on additional purchases.”

Read more: https://www.nerdwallet.com/article/small-business/coupon-and-discount-tips-for-small-businesses