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Promo Feature: The Power of the Coupon

Dec 12, 2016 02:36PM ● By Alex Martinez
In 1887, Coca-Cola shook the retail world. That's when Atlanta businessman Asa Candler, who established the cola company, introduced the world's first coupon—a true game-changer in the advertising world. Tickets in hand, excited customers flocked into Atlanta pharmacies for a free glass of the new cola (normally 5 cents), and the drink's popularity exploded. Since that date, businesses in almost every industry from grocery stores to hotels have jumped on board the coupon train. 

Today’s legal cannabis companies are simply the latest to discover this power. Let’s imagine a dispensary named “JJ’s MJ.” Now, JJ’s may advertise bold discounts for a host of reasons. Coupons can help push out those expiring brownies or the new vape pen that simply will not sell. Limited-time offers also grab consumers’ attention, so JJ’s can ignite a word-of-mouth wildfire about its PHO shatter. JJ’s regulars love these coupons. On the other side of the counter, Bobby,
JJ’s top budtender, loves seeing coupons come in the door. He knows that coupons not only strengthen customers’ connection to JJ’s but certain ones (such as “Spend $50 and Get a Free Joint”) also help boost the average spend and, as a result, Bobby’s reputation.

Most of all, coupons bring in brand new customers. People are naturally risk-averse and avoid new brands to prevent the pain of wasting money. Coupons reduce this fear and nudge curious prospects into becoming consumers.

Using coupons as a business strategy today is an especially smart move given that everyone seems to be using them. While the stereotype of the elderly female coupon clipper still exists, research from NCH Marketing Services reveals that Americans of all ages are passionate about discounts. In fact, millennials, more than any other age group, claim to search for discounts before making a trip to the store. Chances are that you already have one or two default websites you use to find your deals. All of this raises the question: if you are a retailer, what are you waiting for? Coupons are a great deal on both sides of the register.

CLICK HERE to find the best MJ deals in your area!