Comments on: Coupon Crazed Christmas!

By: davidbaer

davidbaer — Sat, 09 Jan 2010 09:42:03 +0000

Often we forget the little guy, the SMB, in our discussions of the comings and goings of the Internet marketing industry. Sure there are times like this when a report surfaces talking about their issues and concerns but, for the most part, we like to talk about big brands and how they do the Internet marketing thing well or not so well.
http://www.onlineuniversalwork.com

By: Charles brooks

Charles brooks — Wed, 16 Dec 2009 09:22:08 +0000

1. Often we forget the little guy, the SMB, in our discussions of the comings and goings of the Internet marketing industry. Sure there are times like this when a report surfaces talking about their issues and concerns but, for the most part, we like to talk about big brands and how they do the Internet marketing thing well or not so well.
http://www.onlineuniversalwork.com

By: Michele

Michele — Wed, 09 Dec 2009 05:55:10 +0000

Yes, I’ve noticed shopping online has definitely increased this year. Even my mother and grandmother have discovered some pretty amazing deals online this shopping season.

By: Jeanne Bliss

Jeanne Bliss — Tue, 08 Dec 2009 22:21:21 +0000

Michael,
I agree that local businesses have not yet embraced this electronic medium for giving their customers a bit of a break on their pricing yet.
Small business has such a keen opportunity right now to stand out in the marketplace with customers by adjusting and modifying swiftly to changing consumer needs and behaviors – because they are more agile. I like your idea of really understanding the purchase ebb and flow of the business, and then draw customers in during the slower times with a coupon offering.
I’d assert that in addition to offering a discount, small businesses can use this time to cement an emotional bond with their customers by offering uncommon acts of kindness. For example, Umpqua Bank, which prides itself on running each store as a local community center, offers “movie night.” They play kids movies, make popcorn and pull customers in. This type of non-commerce related gesture, in addition to price related help will be long remembered after these times have passed. Again, embracing their agility and ability to do creative gestures, this can be a great opportunity for small businesses to shine.

By: Jeanne Bliss

Jeanne Bliss — Tue, 08 Dec 2009 22:12:33 +0000

Paul,
Your astute observations in your post are syncing up with what continues to be validated in research, media reports and consumer behavior. It is interesting to watch during this second holiday of the recession, how the “save” and “caution” behaviors are becoming more entrenched and wider spread – especially through demographics who wouldn’t have uttered the word “coupon” before. It’s sobering. Thanks so much for your feedback.

By: Michael Fahey

Michael Fahey — Tue, 08 Dec 2009 17:06:02 +0000

I agree traffic is way up, however, there are many consumers and businesses who are left out locally.
http://www.mingamo.com offers local coupons in the San Jose area and is expanding, however, it still is a difficult market for the small business to compete and for companies like Mingamo to earn market share.
The sites mentioned in the article do cater to the more web savvy consumer who buy national brands, but there are consumers who are looking local for coupons and are not finding them.
Small business have to weigh the costs to compete with these national chains and these sites have not established themselves on Main Street. Their cost to supply coupons are much higher as they not only have to offer a discount or incentive but also have to pay to distribute the coupons. MINGAMO is offering an inexpensive way for them to get their coupons in the market just as RETAILMENOT, COUPONCABIN, and BRADSDEALS are providing coupons of national brands.
As a marketing strategy local businesses should offer coupons to gain new customers, give incentives for customers to return, and create REVENUE during slow days, weeks, or periods. A simple example of this concept is restaurants are typically slower on Tuesdays. Rather than shut the doors, the restaurant could offer coupons on Tuesdays only. This also works for most service businesses.
Small business would argue that it moves higher paying customers to buy on off days, however, the proof is at the end of the week when they tally total revenues.
Bottom line. Coupons do help drive business. Small business needs to take a serious look and change their thinking or they won’t compete with the national brands.
Do we really want what Hollywood showed in “Demolition Man”, Taco Bell winning the “Fast Food War” and being the only restaurant left standing?
Michael Fahey
Mingamo Media LLC

By: Paul Barsch

Paul Barsch — Tue, 08 Dec 2009 14:09:36 +0000

Jeanne, you said,”Living through these economic times has behavior-modified all of us as consumers in one manner or another. Our coupon hunting and cost cutting habits we are developing now could stay with us for the long-haul…just like those folks who lived through the depression.” Interesting comment and inline with some survey results from Money Magazine that I detailed in a previous FIX post, “The Great Recession, Things are Different Now.”
http://www.mpdailyfix.com/2009/04/the_great_recession_things_are.html