Businesses that plan to use coupons are at a distinct advantage over those who do not use coupons. Prospective business owners need to look at coupons as just another form of their company's business card. When we at MasterPlans write your business plan, we make sure to mention in your business plan whether or not you plan to use coupons. Banks, of course, look favorably on the use of coupons when reading a business plan because they know how useful a coupon can be to increase sales, and thus your company's chances of survival. Coupons, like business cards, contain your business' information so that prospective customers can find your business easily. In this way, coupons serve as a road map to your business. Coupons attract new customers who are interested in saving time and money. A strong business plan, like the ones MasterPlans writes, will always make mention of your business' plans to use coupons.
What kinds of people use coupons? Anyone interested in saving money, which is really the population at large. Using newspapers, magazines, websites, and direct mailings to get coupons to your prospective customers will always have a positive effect on your business' sales. The business plans that MasterPlans writes will even serve to give you ideas on how to get coupons out to as much of the general public as possible. Once a customer sees an offer in a newspaper coupon that your company published, that coupon serves as an advertisement for your brand and company. People remember what they see in print, especially on coupons, and once they see your Company's coupon, they will be that much more likely to use the product or service that your business offers. Coupons can be used to advertise products and services of any type or price range. Coupons can offer small or large discounts, or even advertise regular prices. Most new customers don't know what your typical prices are, so even a small discount may seem large and, thus, attractive to them.
Sending coupons out to prospective customers is the equivalent of the footwork you would have to do to pass out the same number of business cards. You can reach a much larger number of people by publishing coupons than you ever could by passing out business cards. People also tend to save coupons, whereas a business card has a much higher likelihood of ending up in the garbage. A prospective customer may not be sure he or she really wants to patronize your company, but when each customer sees a coupon, he may save it anyway, "just in case I need to use it later." When people save your coupon, it serves as a repeat advertisement, because they see it over and over again, until finally, they have a need for your product or service, at which time, they will bring the coupon and their business to you.