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Business voucher is the term interchangeable with the terms discount coupons, gift cards, gift vouchers, and many other similar terms. It offers the customers certain types of discounts, and it is almost always that they are the first ones that customers would avail since there are limited opportunities, limited discounts, in a limited time period. Companies look for different ways on how to enhance and promote their vouchers and coupons using the different marketing strategies that their marketers have been developed.
They constantly seed ways and updates on their discount cards to have an edge over other competitors and to stay on top of the competition. Vouchers are also a form of promotional tool that can help boost one’s company’s branding. Here are some examples of business voucher designs you might find interesting to take a look at. Or, you may check out other examples of vouchers and similar discount cards:
Why do we always see discount vouchers being promoted online and being posted in different stores? Why do companies continuously use vouchers in their marketing strategies? Here are several basic purposes of purchase discounts and vouchers: You may also see Gift Coupons.
How can sales be improved through vouchers? Well, vouchers gather and entice customers into buying the product. Most probably, customers would grab this opportunity. Along with it, as they go around strolling in your store, they might find other interesting products that catch their attention. You may also see Receipt Vouchers.
As a result of increased sales of your product, your turnover will also increase. What is a turnover? It is the number of times an asset is replaced during a specific range of time or an accounting period. It also means how many stocks are revolving and the number of rotation it takes for another batch of stocks for replacement. Higher turnover means your inventory process is revolving well and that you attained a high amount of sales.
Discounts also keep your customers always interested in your shop. They will keep looking for discounts on your shop and will always be updated in case other interesting things will be offered. In line with this, these customers will become your loyal customers that can help your company by recommending it to their family and peers. They may create a network of new customers and will even be the testimonies of your shop. This would lead to the improved business branding of your company, which every company desires to attain.
Customer satisfaction is what all company seeks to achieve. A satisfied customer will become your returning customer and will buy other than your discounted products. They will engage others to try in your shop and persuade them to become loyal customers, too.
There are several perks in discounts. Although you may perceive discount as a deduction from what you are originally paying or getting more than what you paid, there are different ways on how companies offer their discounts to the customers. Here are some them.
A certain pre-determined amount is deducted from the cost of the product or services that you are availing. For example, $10 discount will be granted if you buy worth $300 accumulated, single-receipt worth of items. In this discount strategy, you have to make sure that you are offering the customers a reasonable amount of discount and minimum purchase and that they will not be spending too much just to get the deal.
This is one of the most common types of discounts found in malls and stores wherein a certain item is discounted with a certain percentage off from the cost. A modified version of this type is when you have to buy a certain number of items for this percentage discount to take effect. For example, you are entitled to a 10% discount if you will purchase 5 shirts of the same brand. This is a brilliant marketing strategy to quickly increase the number of sales since people will be obliged to buy all 5 shirts just to get the 10% discount.
Another common, but effective, type of discount is buying one, get one, in which you have to buy a certain item and get another item. Here’s the catch: there are some stores and shops that offer their item as buying one, get one, but when you actually calculate them, the amount is just equal to the price of the two combined. For example, a shoe is worth $300. This is offered as buy one, get one for $600. This is a risky trick taken by other businesses that, when found out, maybe the reason to lose the customers. However, usually, most companies would offer to buy one, get one, and compute for a reasonable price including the discount. Continuing the example, another company is offering buy one, get one for the shoes for a price of $450. This is indeed a very reasonable price a certain company can offer. There are other companies, too, that will offer their products buy one, get one for the same amount as purchasing only one item for products near their expiration dates and those that need to be disposed of as early as possible.
A variation of buy one, get one, buy several, get one. Now that you have already understood how buy one, get one work, you now have the idea how buy several, get one will work, right? For example, buy 3, get one. In some stores, they pack their items in 3 and you can have the other one for free. There are also food branding restaurants that offer this kind of discounts. For examples, when you buy 3 different kinds of menu, you will be given the privilege to choose one more menu designs for free.
There are also stores that offer discounts for their members only. Walk-in customers are not entitled to the same discount that the member can avail. This is one of their strategies to get you sign up in their store as a member so you can enjoy their discounts only intended for members. If you are a customer, be aware of this kind of strategies for there are clubs and other loyalty groups whose membership fee is more expensive than to what you can actually enjoy.
There is also this kind of marketing strategy in which you have to buy a product for a certain amount and you will get an additional item for free. For example, you need to buy a 160-gram toothpaste of a certain brand in order to get a free toothbrush of the same brand. This is also a way to allure your customers into buying this package since, most of the time, the amount for the package is lesser than the amount to be paid when the items are to be purchased individually.
Rebate is another way to hook your customers. How does rebate work? Once you purchase a product with a rebate, they will return a certain amount or the percentage of the original cost. It is a form of refund or payback to the customers. For example, if you are going to buy a load from this certain loading station, they will give you a 10% rebate, meaning, if you will purchase $100 amount of load, they will give you back or place into your account $10 which is the 10% of the amount you purchase.
This is a strategy in which you do not have to pay the couriers anymore when you buy this certain amount of items. Most customers view free shipping as a deduction to their burden for the transportation as well as a great way to avoid freight costs. If you are offering this to customers, there is usually a minimum amount of purchase that your customers must acquire and you can limit a certain amount for them to avail the offer. For example, they need to buy $500 and more so they can acquire the free shipping benefit.
Vouchers, coupons, and discount cards do not only give the customers privileges on discounts to achieve customer satisfaction but also provide the company a noticeable edge over other competitors. They also help in increasing the sales and turnover of a particular product at a specific time. Because of the several importance of gift vouchers, they remain as among the marketing tools that are still used by business entities even up to this day.
If you are planning on offering discounts for your customers or if you are a customer and want to have a first-hand experience in managing a business, there are several types of discounts that you must first know in order to understand the things about vouchers: a certain amount is deducted from the cost, percent-based discounts, buy one, get one coupon or buy several, get one, coupons for members, additional item for free, with rebate, free shipping, and many others.
If you are in the process of making your own voucher, the examples of vouchers above will surely help you in your business voucher designs.