We’re living in the digital age, so more likely than not, your business is relying heavily on internet marketing, leaving behind those old newspaper advertisements.
But wait, not so fast. According to the latest marketing research, there may still be some value to providing discounts and coupons via local newspapers. An August 2015 study by CreditCards.com found that newspapers are still the most popular source for discounts and coupons amongst price-conscious consumers.
They found that 37.7 percent of female respondents, and 30.1 percent of male respondents cited newspapers as their go-to for finding discounts and coupons, compared to the internet, snail mail, email, or direct offers from banks and credit cards.
Breaking the stats down by age
However, the picture becomes a little more complicated when you break down the statistics by age. The CreditCards.com study revealed that consumers ages 18 to 49 are mostly getting their discounts from the internet. Youngsters under age 34 are also more responsive to coupons in their mailboxes than to newspaper coupons.
For all respondents over age 49, on the other hand, newspapers were their first source for coupons, leveling out the average such that newspapers still rank number one when all age categories are combined.
A similar August 2014 study by Valassis, a direct mail marketing service, found less variation across age groups, with millennials, gen Xers, and baby boomers all stating that they used paper coupons far more than digital ones.
Gender and income influences
Shoppers with higher incomes don’t seem to worry much about finding coupons and discounts, whereas lower income shoppers rely on them heavily.
Nonetheless, the CreditCards.com study found that 30.6 percent of female internet users use coupons when shopping for their day to day amenities. That’s nearly twice as much as men, of whom only 16.8 percent use coupons regularly.
An overlooked opportunity?
In short, it appears that supplying discount offers and coupons in your local paper may not be such a bad idea, especially if your customer base is largely female, and over the age of 50.
While advertising a multi-million dollar listing may not yield results, inserting a coupon for a free analysis or an offering to waive $500 off of closing costs, could be a tool your competitors are ignoring. Time to open up a newspaper to see if there’s opportunity for your brand.