Examples of Good, Bad and Ugly Coupons

In followup to our post "Make a Good Coupon to Increase Profits" - we wanted to give you our take on coupons that perform well (and not so well). To keep up good spirits we are just putting the promotions below without naming the company offering the coupon.


Good Coupons are 'Good' because they accomplish a Goal & Increase Sales

• Spend $20 and get a $10 Gift Card - (Gift Shop) Granted ten dollars isn't huge but the amount I have to spend isn't too large either...plus guess what - I have to come back in a second time to spend my ten dollar gift card. Two visits for the price of one.
• Everything Ships for $2.99 - (Online Box Store) This might not be such a big discount if I'm buying jewelry or a scarf but the company also sells furniture and appliances. Granted I'm sure they have built in shipping costs in their prices but the point is - it catches your attention that you could have a couch shipped for under three dollars.
• 25% Off - No Exclusions - (Department Store) This is a big eye catcher for me because it says there is no fine print. It's a coupon they only offer twice a year but you can bet I am looking for it every time and ready to shop when it hits.
• Free Regular Maintenance Included for 2 Years - (Car Dealer) If I do an estimation that regular car check ups and oil changes usually runs from $300 to $500 depending on the brand, this is enticing especially because I know that I will be comfortable getting the car looked at regularly which increases re-sale value.
• Family Plan - Flat Rate for Up to 5 People - (Chiropractor) I included this because if you are the type of business that can give group discounts - go for it! Its a great incentive to get the whole family to shop with you which will only instill more buyer loyalty.

Increase Sales With Video on Your Business Website

As a business owner, new leads are valuable assets that drive your bottom line in the right direction.  Every lead in your pipeline (or store) arrived as a result of a variety of marketing avenues used to get them to your door.

Using video on your website effectively can  maximize your business marketing and followup process for new leads so you can make more $$$.

According to Business.com, there are 8 steps to earning and converting a sale:

1. Prospecting
2. Planning
3. Approach
4. Need Assessment
5. Presentation
6. Meeting Objections
7. Gaining Commitment
8. Follow-Up

Should I hide my prices?

Pricing your product or service can be a tricky task for any business owner but once you do decide on that magic number - you have to put on your marketing hat and decide when to show it and when not to.

Reasons you might want to 'HIDE' your prices from initial 'investigators'...
• You want to build an initial strong desire and demonstrate affordability - this is where your marketing is focused on the features of your product or service to dazzle a prospective buyer with everything they'll enjoy from the purchase.
• You want to show how the personal value of the product or service is greater than just the price value - this is where your marketing is focused on the emotional value of the sale and addresses the needs your potential customer has.
• You want to change the potential client's perception of the price - sometimes referred to as 'price conditioning.' - it can be tough but price conditioning is an art companies like Audi, Tiffany and Co. and Ethan Allen have mastered. Customers of these businesses believe that the special nuances of products purchased from them are WORTH the additional cost. It's still a car, a diamond ring and a chair that does the same things as the ones you could get at Kia, Kmart or Walmart but their customers want to pay more because their perception of the price in terms of value is different.

Situations when you should NOT hide your prices...
• If your price is a competitive advantage - For example, if you are cheaper than your competitors, or you have a special offer that can make even the quick-glancer recognize it as a good price, then you might want to do the opposite and make your price more prominent.
• If your price is low enough that it could be considered an 'impulse buy', then you might want to leave it on display as normal.
• If you are unsure what to do - when in doubt, it is always better to show your prices or a price range than to make the mistake of hiding them because you haven't done your research.

Why you want to be careful at playing too much 'keep-away'...
It should be mentioned that hiding your price can be as simple as offering a new client special, a trial period or making a person click to another screen to see the price. In these cases - you are not eliminating the price from view entirely. However, we have come across several businesses who refuse to put any pricing on their websites or marketing.

We want to warn that this can be dangerous because people like to shop before they buy. If you aren't even willing to show a price range - people might overlook you because your competitor does show prices. You are also making it more work for a potential customer to buy from you because they have to contact you to even discern if they can afford you. Shoppers (on every level) want life to be easier - not complicated, and they definately don't want to spend extra time and energy if it isn't worth it.

So..."Should you hide your prices or not?"
There is no right or wrong answer but here's the real questions you should answer first:
• What do my competitors do?
• Why is it important to hide/show my prices?
• What would my customer want?
• What would I want if I was a customer?

How to Make 30 Second Commercial Magic

Would it surprise you to learn that most business people do not have a 30-second commercial (otherwise known as an elevator speech)? In my travels, even those at the highest level have not completed a few versions to suit any occasion in which they might be asked the age-old question, "What do you do?"

It is not only prudent but truly crucial that you be able to simply and quickly describe what you do and who your target audience is no matter the occasion. The purpose of your 30-second commercial is to tell who you are, who your company is, and what you do. In addition, it asks one or more power questions, makes a power statement that shows how you can help others and ends with why the prospect should act now.

Tips for Creating Your Personal Commercial

Follow your plan. When you write a business plan, you prepare the executive summary last because you can't effectively summarize something you haven't already thought out. The same holds true with your personal commercial. Write your personal business plan first. Then, align your personal commercial with your mission and the roadmap you have developed for achieving it.

Make it memorable. Apart from the need to exchange pleasantries, you tell other people what you do for two reasons: they might have a need for your services or they might know someone else who has a need for your services. In either case, they should remember enough of what you told them so that they think of you when the need arises. To make your personal commercial memorable:

o Use an energetic group of words that leaves them wanting more!
o Avoid using industry jargon unless it's absolutely necessary.
o Talk about benefits... "I help lawyers find ways to win more business from existing clients."
o Speak slowly, audibly and clearly.
o If possible, personalize it -- for example a trademark attorney speaking to someone who has expressed concern about cyber squatters might say "I protect companies from cyber squatters," in addition to saying "I am a trademark attorney."

Keep it simple. Test your personal commercial on a seven-year-old. If they can't understand what you do, then you need to do some editing.

Have more than one version. The level of detail you provide at a cocktail reception is often very different than the detail you provide during a client meeting. You need to be prepared with at least two (preferably even three versions) of your 30-second commercial. The first version is quick--perhaps one or two sentences. The second version is as long as one or two paragraphs and should expand on the information provided in the first version. For example, you might expand on your responsibilities or explain in greater detail what your firm does. The third version lasts one or two minutes and could include further explanation of the second version as well as key clients, case studies and other information relevant to the current audience.

Primary Goal of the 30-Second Commercial

To develop a series of sentences that take 10-30 seconds to articulate, sharing how you add value to your customer's business and life. The purpose isn't to tell the other person everything that you do. It's to keep them from saying: "So what!" "We've already got something like that." "We're all set." or "Good-bye!"

30-Second Commercial Outline

Name and Title ... Hi, my name is Honorée Corpron, Visionary, Business Strategist and Performance Coach.

Company Name ... My company is Honorée Enterprises.

Creatively say what you do ... I work with CEOs, senior level professionals and entrepreneurs to achieve profit-doubling growth in 60-80% less time than it would take them to do it on their own.

Insert your Power Question ... Wouldn't it be great to be able to reach achieve more goals in the next 12 months with support than you could achieve on your own in the next decade?

Insert your Power Statement (how you help) ... I think I might be able to help you. Let's get together to discuss ways to implement systems and strategies into your business to help you be the most effective and efficient you can be, all while maintaining balance in your life.

Why the prospect should act now ... Would you like to schedule a brainstorming session, or have lunch or coffee to see if I can be of assistance to you?

Creating your 30-Second Commercial. First, list five ways you improve your clients' business, save them money or money, and/or help them to get more of what they want. Then list five reasons why people do business with you. Combine the most important elements into your 30 Second Commercial.

Power Questions
The Power Question qualifies the prospect and sets up your response. Use these five questions when formulating the Power Questions in your 30-Second Commercials:
1. What information do I want to get as a result of asking this question?
2. Can I qualify my prospect as a result of this question?
3. Does it take more than one question to find out the information I need?
4. Do my questions make the prospect think?
5. Can I ask a question that separates me from my competitor?
Here are some lead-ins to Power Questions that will expose areas of need:
o What do you look for ...?
o What have you found ...?
o What has been your experience ...?
o How do you propose ...?
o How have you successfully used ...?
o How do you determine ...?
o Why is that a deciding factor ...?
o What makes you choose ...?
o What is the one thing you would improve about ...?
o Are there other factors ...?
o What does your competitor do about ...?
o How do your customers react to ...?
o How are you currently ...?
o What are you doing to keep ...?
o How often do you contact ...?
o What are you doing to ensure ...?

Using some of the lead-ins above, as necessary, make a list of 25 Power Questions that make the prospect think and give you the information you need.

Combining all of the necessary elements in creating your 30-second commercial, along with mastering your Power Questions will assist you in attracting more of the clients and customers you want to work with - and they'll know exactly why they should hire you right away!

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