What Are The Benefits To Using IRC Labels?
Last week, I gave you some basic information about Instant Redeemable Coupon (IRC) labels. There’s a reason you see more and more of them today while shopping, or even browsing your favorite newspaper or magazine. Actually, there are several reasons – and ultimately, they all have to do with helping your business, pleasing your customers and increasing the revenue you can generate from them. I’d like to talk about a few of those reasons today.
IRC Labels Build Your Business Because They Get Used
As I mentioned last week, coupons are popular to begin with; especially in a tight economy, people prefer to save money on the brands they trust. That being said, coupons need to be convenient because it’s a long journey from the newspaper insert to the store. Sometimes, even those intending to use coupons often lose track of them along the way. If your coupons never make it to the store, they obviously won’t work to encourage purchase of the brands they promote.
Instant Redeemable Coupons are the perfect answer to that problem, and that’s a proven fact. IRC labels have the best redemption rate of all coupons. You can’t stand next to your product at every store and hand coupons to potential buyers, but IRC labels accomplish the same thing.
IRC labels use a discount or promotion to invite people to try your brand (instead of a competitor’s), or to buy more of your product, closing out the competition on the next sale too. All consumers have to do is peel it off the product and use it. Sales go up and customers get better exposure to your product. That’s how brand loyalty starts and grows.
IRC Labels Can Reduce Lost Income
In many industries, it’s a simple fact that products don’t last forever. Produce and other perishable goods eventually reach a point beyond which they cannot be sold and will need to be destroyed – a total loss to you, the seller. “Sell by” dates are helpful to consumers but given the choice, who wouldn’t pick the newer, fresher product? Older products tend to sit, awaiting their unprofitable fate, but they don’t have to.
Funny how a little “on the spot” incentive can make consumers view those products differently. If I’m using it for dinner tonight or tomorrow, who cares if the end date is only a couple days off – especially if I can save money on it?
That’s where IRC labels can help. When a field sales rep sees that situation approaching, he or she can attach an IRC label to the aging product, offering an extra discount to make it more attractive than newer packages, or other brands; so you still get the sale. You may not make your full margin on that product, but you will generate far more income than if you had to throw it away.
A colorful, attention-getting IRC labels on the package can turn a product destined for destruction into a satisfying “find” for your customers. It’s a win-win and it’s a smart, tactical way to maximize revenue by reducing lost income. Superior Business Solutions has considerable expertise in IRC labels, and we can share examples of where that expertise has made a difference on the bottom line for some well-known customers.
IRC Labels Build Relationships
While IRC labels are best known for offering discounts in the situations above, those are by no means the only way to use them. Any marketer knows that gaining and retaining customers is the key to business success. IRC labels can help you do both, in ways beyond simple discounts.
An adhesive IRC labels attached to your product on the shelf can feature a tie-in cross-promotion with other respected brands, or a promotional item that can work to reinforce your brand message. Here are just a few examples.
- A disinfectant cleaner carries an IRC labels to send in to obtain a booklet on helping kids avoid germs during back-to-school season.
- Items commonly used in school lunches carry a cross-promotion for school supplies.
- An IRC label on a pasta package is actually a mail-in entry form to win a trip to Italy; its surface can be written upon.
- The only limit is your creativity; find engaging ways to deepen the relationship with that customer and stand out from your competition.
And don’t forget other ways to use IRC labels: they can be attached to magazine ads as super-convenient no-need-to-clip coupons, they can be affixed to the covers or other editorial areas of magazines and newspapers that target your ideal consumer demographics in terms of geography or subject matter. You reach the right people, and make it easy for them to respond.
Let’s Get Creative With IRC Labels
Once you see the different ways you can use IRC labels, it’s hard to turn off the thought machine. I’d be delighted to help you brainstorm some ways to use them productively in your business; contact me if you’re interested in doing that. Our sales reps are also great at coming up with profit-maximizing strategies, so contact them for information or ideas. If you want to use IRC labels to improve your profit picture, we’d love to help you pull it off. (Sorry, couldn’t resist.)