Why You Should Start Using Vouchers in Your Marketing Strategy

With the wide variety of marketing tactics, strategies, and theories available today, it is not surprising for some marketers to lose their focus on the most crucial aspects of marketing — acquiring, engaging, and retaining customers.

Done right, these marketing fundamentals will help ensure the success of any marketing campaign. That being said, it’s vital to remember these marketing fundamentals when planning the implementation of vouchers in your marketing strategy.

Why do vouchers work?

More and more marketers are doing away with multiuse coupons since in most instances; customers will realize eventually that their special coupons are not really special. Generally speaking, they’re just unlimited offers that people can use basically whenever they want, again and again, and again.

In turn, this just ends up backfiring on retailers since while multiuse coupons are great for promotions, they don’t really engage or retain customers. But vouchers offer various benefits, aside from providing higher rates of redemption, such as:

  • Improves your ability to customize and target offers
  • Offers enhanced security so that targeted offers won’t go viral and out of hand
  • Attributes redemption rates to segments and individuals
  • Makes A/B testing more accurate for best outcomes

Essentially, using more focused, targeted, and higher value vouchers could mean the difference between unleashing the value and power of your campaign and letting it go to waste.

What are vouchers?

gift voucher

To really understand how vouchers can benefit customers and retailers, you need to know the difference between vouchers and multiuse coupons. Vouchers can only be used once and will expire when used, which makes them tamper-proof whether they’re delivered through an app, social, text, or web platform.

They come with a tagged, unique code to enable you to follow its entire lifecycle from issuance to redemption. You can then track the shopping behavior of the customer that used the coupon.

How does one implement vouchers?

Vouchers work best when you segment target consumers into proper marketing phases, which include, acquisition, retention, and engagement. Whether you do your own marketing or have a team that delivers fully managed marketing services, you must provide different offers to different segments and make certain that you only deliver your offers to specific customers.

For instance, the generous offer you offer to customers that you’re trying to win back should be different than the offer you offer to lapsed customers. Additionally, you need to ensure that retention vouchers you offer through SMS marketing campaigns, for instance, won’t go viral.

In the same vein, you want to give out offers as an incentive to potential customers to sign up to your SMS marketing list. However, you should make certain that only those who sign up could get a hold of your SMS vouchers. When used strategically, vouchers can really help you build an SMS marketing list that works.

Put simply, in order for your voucher strategy to work, it must be focused and targeted. Once you get the hang of it, vouchers that are customer-centric will really help you acquire new leads and customers, engage them more successfully, and retain them for as long as possible.