Social coupons as a marketing strategy: a multifaceted perspective ...

Consider a small ethnic restaurant serving customers within a five-mile radius. In a typical month, the restaurant serves around 1,250 customers, with an average check value of $20 per customer. After accounting for the expenses, the restaurant makes a monthly profit of 10% on the revenue. That is, the restaurant earns … See more

CouponFollow Extension

10%
OFF

Social Coupons As A Marketing Strategy: A Multifaceted Perspective ...

3 weeks from now

springer.com

20%
OFF

“We Earned The Coupon Together”: The Value Of Experience …

3 weeks from now

Oct 25, 2022 · Getting customers to share coupons with their social networks (e.g., “Share the love with a friend, and you both get 20%”) has become a vital coupon distribution strategy to …

ama.org

FAQs about Social coupons as a marketing strategy: a multifaceted perspective ... Coupon?

Are social coupons a viable strategy for acquiring new customers?

These businesses are the most likely candidates to analyze whether the launch of a social coupon is a viable strategy to acquire new customers, as compared to businesses offering services that are good for only a single use. ...

Are social coupons a profitable business model?

Social coupons are fast emerging as a popular marketing tool for businesses, an attractive shopping tool for consumers using them and a profitable business model for the social coupon service providers. But does the popularity of social coupons extend into providing short- and long-term profitability and new customers for the businesses? ...

How a social coupon affects a business?

In effect, these analyses provide businesses the immediate or short-term impact on their bottom line, should they decide to launch a social coupon. The true impact and profitability from a social coupon can be determined only after ascertaining the level of repeat business generated by the new customers. ...

Are social coupons a good idea?

Social coupons, unlike the regular ones, provide substantial discounts to customers when purchased on a prepayment basis ( Nakhata and Kuo, 2017 ). Prepayment as an aspect of social couponing is beneficial to both customers and businesses. ...

What are some examples of social coupons?

For instance, recently, a family-owned toy retail chain in Kansas City launched a social coupon that attracted nearly 3,000 customers. ...

Are all coupon strategies the same?

Coupons have long been a favorite tool for businesses to attract customers, drive sales, and encourage repeat purchases. However, not all coupon strategies are created equally. A well-planned approach can transform your campaign from an average promotion into a revenue-driving powerhouse. ...