Coupon managements is an interesting way of marketing strategy and penetration in the market by an organization to boost sales. Coupons management can be a good way of providing discounts and increase the sales of a company depending upon the strategies being planned and executed by the top level. It can be managed through a software or manually wherein an intermediary can act as a coordinator between managing the coupons system of the company and the channel distribution system in the market.
Benefits of Coupon Management
- Coupons management is being widely used by companies to boost up the sale of the organization’s products.
- Coupons management can also be an effective way to introducing either new products/brands in the market or move out the old stocks or both.
Marketing of Products
- Coupons were introduced in the system as a penetration strategy for marketing of their products wherein discounts coupons were given on the purchase of certain items.
- With the use of these coupons, sales increased and thus also providing the discounts to the end user.
Increased Cash Inflow
- As the discounts of coupons were given in cash to the end user, thus the dealers in the distribution system also wanted a cash inflow balance to maintain the inflow and outflow of cash.
- Coupons management can be done either through a software or manually, whereby an intermediary can act as a coordinator between the company and distribution system to balance the cash flow of dealers who are giving discounts to the end users in cash.
Encashment of Coupons
- A consultancy can manage the coupons on behalf of the organization, and thus can add a support for the dealers.
- Companies can outsource coupon management and the payment of the coupons redeemed by the dealer can be encashed rather than going for a credit note or balancing it in the next purchase of the dealer.
- Coupons management through an intermediary can motivate the dealers in the distribution system to enhance the sales of the products as the rewards can be monetary rather than just balancing of accounts.
- Effective coupon management can add new customers for business and can also add up old customers who would also join in.
- It can also minimize the advertising cost of the business.
How ASC Helps?
- Responsibility of GST/ Taxation compliances
- Assistance on matters relating to Finance/GST/Legal/Audit/HR.
- Seamless payments with simultaneous intimation of payment advices.
- Managing the system of dispersal and redemption of coupons.
- Facilitating cash/bank Payments to distributors for redeemed coupons.
- Overcome issues of Net 30/60/90 day payment terms.
- No Tax Hassles – GST Compliance responsibility will lie with ASC.