Coupon Guide

What is a Coupon?” That’s the question an immigrant to the United States recently asked me. The question caught me by surprise. We’re constantly rethinking this question so this guide will likely be a living document to explore and document all things coupon. What follows are some answers that came to the minds of consumers we asked this question.

  • A product discount offered to consumers by manufacturers that is honored by retail stores.
  • It’s like currency but it’s issued by a company instead of by a government.
  • A financial instrument that marketers issue to increase the number of sales of a particular product.
  • A reward for being a loyal customer.
  • A discount.
  • An advertisement.
  • A deal.
  • A way to save money and encourage a buyer to try a new product.

Types of Coupons

Print
Coupons have traditionally been issued in the form of paper.

  • Local Market
    Coupons have been deployed successfully in both small and large city markets. It makes sense that the competition among coupon issuers would be more intense in big city markets–I’m thinking
    mainly of retail stores— and therefore open up more choices and larger discounts to consumers.

    • Delivery
      It seems that there is no limit to the creativity in advertising these days. Expect to see auto
      wrapped coupons and body tattoo coupons soon.

      • Newspapers – Once a reliable source of coupons, the fall of newspapers to online media has had an impact on circulation and advertising revenue. Newspapers are no longer the gold mines for coupon hunters they once were. Coupon Claim tested a large city newspaper market that advertised over $100 in coupons for the weekend edition and found not one exceptional coupon.
      • Television – This offer is not available in stores is sort of like a coupon because the company is setting their own presumably discounted price.
      • Radio – Mention-this-ad-and-receive-a-discount type coupons or the endearing the “Tell ‘em (insert name of celebrity) sent ya” can still be effective.
      • Magazines – Freely distributed magazines supported solely by advertising are often a great source of print coupons.
      • Booklets – Third party marketers or charity groups create and sell compilations of coupons from various local businesses. Coupon booklets like “The Little Coupon Book” are left in local businesses for free consumer pickup.
      • Flyers – Coupons stuck in doors of homes or windshields of cars can provide value but risk annoying consumers.
        Product - Coupons that come with products purchased, perhaps as a reward.

Online
Online coupons are available directly from companies or through third party marketers that publish them through affiliate programs or partnerships.

  • Delivery

    • Web sites

      • Coupon Blogs
      • Coupon Directories – Sites that list coupons, usually by category or company
      • Coupon Forums
      • Consumer/Informationnal

    • Email – The most effective method of electronically notifying someone about a coupon deal is via good old’ email. Some coupon marketers like CoolSavings, Eversave or Coupon Surfer send out regular deals to users who sign up for their free memberships.

Elements of a Coupon

  • Discount – A 10%, 20% or higher discount on a fairly priced product of interest is likely worth investigating. The higher the product price over the market, the less value the coupon has. Conversely, the lower the product price, the higher the coupon value.
  • Expiration – The date at which the issuer of the coupon no longer honors the offering. A far out expiration date adds good time value to the coupon.
  • Code – A number assigned by the coupon issuer which is helps the issuer track consumer buying habits. Coupon codes can also be provided at checkout to obtain a prescribed discount. It is usually not necessary for the holder of a coupon code to possess an official physical coupon. The correct code is enough to obtain the discount.

What to Look For

  • Name brand products.
  • Coupons issued on products in stores known to already offer discounts. A television set coupon at Wal-Mart or BestBuy has a better chance of giving you a discount on an already low price.

What to Avoid

  • Coupons that you have to pay for.
  • Coupons that contain lots of stipulations in the fine print.

What Makes a Good Coupon? How about this: a large discount on a quality product that you are familiar with and want to buy.

What did we leave out? Coupon Claim welcomes comments or additions at webmaster [at] couponclaim.com.