The consumer packaged goods (CPG) business is a competitive one. Choice is the name of the game, and any given category can have as many as a dozen different brands competing for attention on shelves and in the hearts of consumers. With the rising costs of everything from soup to nuts (literally), customers today are looking to save a dime anywhere they can and that makes customer loyalty hard to come by.
If you find yourself losing market share and want to stop or prevent it, instant redeemable coupons (IRCs) could be the solution you’re looking for. Here are five biggest reasons we’re seeing CPG brands turn to IRCs.
Reason #1: Instant Redeemable Coupons Can Provide an Instant Sales Boost
If you’re trying to quickly turnaround the performance of a product in the brick-and-mortar retail environment, IRCs can be just the boost you need. They provide an immediate incentive for consumers to choose your product over a competitor or choose to try your product when they weren’t even considering it. Providing consumers with the instant in-store gratification of a coupon can provide you with an instant upward trend toward meeting your sales goals.
Reason #2: Instant Redeemable Coupons Get Attention
The grocery aisle can feel like a sea of sameness. For all the effort that goes into packaging design, it can still be difficult to make your product pop off the shelves and be seen by consumers. But in a price-conscious environment like the one we’re living in today, IRCs offer something different. PrintFlex Graphics has produced a variety of IRC products through the years and has a unique understanding of the designs, shapes, and colors that can make your product stand out without compromising your brand standards.
Reason #3: IRCs Help You Leverage Established Products to Promote New Ones
What if you could just get people who love Product X to try Product Y? Well, with IRCs you can. We’ve helped many companies leverage their best-selling product to offer discounts for their new or underexposed products very successfully. You don’t have to start from scratch when launching a new product. Instead, use IRCs to add to the arsenal of products your raving fans can’t get enough of.
Reason #4: IRCs Can Encourage Brand Loyalty in a Competitive Market
Stealing market share is something to get excited about. But don’t underestimate the value of your existing customers. As price-conscious shoppers look for ways to bring the grocery bill down, even your most loyal customers might dip their toes into trying the competition if the price is right. An instant redeemable coupon allows you to better compete on price and rewards your loyal customers for coming back to the product they know and love.
Reason #5: Instant Redeemable Coupons are Cost-Effective
IRCs are an incredibly cost-effective way to drive sales. They have the highest redemption rate of all coupon options because the offer is taking place at the point of sale. In addition, the cost of placement and redemption is lower than any other coupon method because the coupon cycle is shorter and more direct to the consumer. All of this makes IRCs one of the most budget-friendly ways to reliably move product.
PrintFlex Graphics is Your IRC Partner
PrintFlex Graphics is the company marketing professionals and product specialists with some of the world’s best-known CPG brands trust for their IRC fulfillment. Why? In addition to our high-quality solutions, we are innovators in this space that our customers know are not scared of a good challenge. In fact- we love them! We also offer affordable in-house labeling services for customers who can’t or would prefer not to dedicate floor space and labor to label application. We’re your one-stop-shop for IRCs from idea to printing to placement. If you’re considering an IRC, you owe it to yourself to reach out to the pros at PrintFlex.