Coupons are generally issued by Companies for gaining customer loyalty, sales promotion, redemption of accumulated points and increasing the value of a company. A coupon is a kind of voucher which is encashed for attaining economical discount or refund while buying goods. Coupons have become an integral part of sales and lead generation activity in today’s businesses. Hence, Coupon Management has also gained importance lately. In this article we shall explore the various kinds of Coupons and varied aspects of Coupon Management.
Different kind of coupons available:
- Paper Coupons: Tickets or coupons are issued by the retailers on obtaining certain services. Usually, paper coupons are provided to loyal customers. This offers a discount to a consumer on availing specific services. While availing services discount coupon is issued, which can be encashed after particular services.
- Social Media: Coupons obtained from newspaper or magazine is a common way of allotting coupons via social media platforms. Retailers generally use authentication to access the coupons such as coupon number, barcode, seals and watermark on the paper so that the same coupon can’t be used by some other person. Print coupons are also issued by coupon book publishers and retailers who include coupons in their books on request or by paying a certain amount.
- Digital Coupons: In the current scenario, digital marketing is boosting sales of a businesses. Accordingly, digitally issued coupons have gained importance. Various forms of digital Coupons issued in the market are in form of promo codes, discount code, coupon code, referral code, vouchers, etc. Usually physical coupons are difficult to manage. Hence, Digital coupon are preferred. Apart from being pocket friendly, Digital Coupons are generally offered with various cashback schemes to customers, making it an attractive choice.
- Electronic ticket: An electronic ticket is a coupon that is generated on mobile phones so that one can redeem the same while purchasing a good. An electronic ticket is issued in the form of WAP Push messages or MMS, where on showcasing the desired message, one can claim such a discount. Recently hotel industry has adopted the same strategy wherein by showing the message, one can claim a discount.
- App-based Coupons: App-based coupons are the ones that are issued through access to a definite app. For instance, if you make payment for the first time through a particular app, one shall be entitled to a cashback of a certain price. These coupons can also be issued in form for reference code, cashback offers, first-time users, etc.
Coupon management serves as a platform for encashing vouchers before the expiry. Coupon Management is a service that involves retail stores wherein coupons are created, matched and managed for benefitting customers. Usually Coupon Management entails transaction accountability covering GST/ Taxation compliances, managing payments with a simultaneous intimation of payment advice.
Benefits of Coupon Management
- Obtaining extra benefits on the transaction
- Timely encashment of coupons
- Increase in sales of a coupon
- Offering lower price to the consumer
- Saves time and money
ASC assists in encashing the coupon instantly issuing cash advances to the customer. Contact ASC Group for any queries and/ or gaining more understanding on Coupon Management.