Discount Coupons are one of the "old school" marketing tools which are highly effective. Therefore, many travel agencies use coupons to boost their businesses. As a result, well-planned coupon strategy can fill the off-season capacities and increase revenue.
Travelers like coupons and always look for a good bargain.
To be honest, who doesn't like gifts?
So, from their perspective, a coupon is an incentive that influences buying decision.
Coupon strategy must be well-planed and thoughtful. If not, it can damage your profit margin. Benefits of a well-thought-out couponing are all so good:
- enlarged awareness of your tour company and wide scope of potential customers,
- developing positive feelings around your tour or travel company name,
- increased bookings through higher publicity.
You want it all, right?
Here are some guides and tips how to optimize your coupon strategy!
Play With The Numbers
My advice is to adjust discount rates to your goals. Existing customers react even on a small incentive while new customers need a more generous offer.
Maybe it’s best to start with 5-10% and see how things are gonna work out.
So, don't be afraid to experiment, but don't ruin your tour business.
Use Your Contacts
List of past customers is a great start point. It is a common fact that it's easier to keep an existing customer than to attract a new one. Send coupon offers to your list and motivate them to book again.
A research suggests that 40% of consumers share email deals with their friends. So it is the cheap way to boost word of mouth marketing.
Don't Forget About Social Media
There is no better place for reaching target audience than social media. Make a special offer for your followers and subscribers. This is a way to build a close relationship with them. Also, it gives a reason to new people to become your fan and possibly a new customer.
54% of consumers will use a coupon they have found on social media platforms.
Make Holiday Offers
Holidays are the best time in the year. It's all about giving and sharing.
When I say holidays, I don't mean only big ones like Christmas and New Year. There are a bunch of other during the whole year.
Hence, tour operators must be creative. It's a wise idea to offer a coupon for some local holiday to get more bookings.
This is especially important in low season when you are struggling to keep interest for your tours.
First Minute Offers
Discount coupons come in handy for promoting first-minute offers. It’s easy-peasy.
Just make sure your booking software has an option to set the duration and capacity parameters.
Let's Make a Deal
Giving coupons in exchange for new email addresses is a good deal. Thus, ask visitors to subscribe to your newsletter and as a sign of gratitude send the coupon.
This way you expand your email list and base of potential clients.
Show that you appreciate loyalty. Send personalized emails with coupons to the customers that booked your tours a certain number of times.
Consequently, the strong relationship becomes even stronger and loyalty turns into advocacy.
Let's Make it Easy
Analyze Your Coupon Strategy Results
Time is up.
Coupons have expired. Hence, this is the right time to measure and analyze the results. These data are crucial for optimizing your future campaigns.
But, keep in mind, concentrate on things that work well and try to improve upon.
Coupons are a powerful tool to boost your business. Well-planned coupon strategy results in increased bookings, revenue, and brand awareness.
Set your goals, follow proven tactics, and finally, success will come.
Share your experience with us and write what turned out to be the best tip.