If you have ever purchased a product that had a coupon attached to it that you could use when buying the product in the store, then you have used an IRC or instantly redeemable coupon. These coupons don't have to be used right away, but they usually are.
Great Way to Cross-Promote Your Products
The IRC you add to your products doesn't have to be just for that particular product. An IRC is a great way to cross-promote your other products. For example, if you sell both ice cream and syrup for ice cream, you could offer $2 off of the syrup with the purchase of a container of ice cream, with the coupon attached to the ice cream. Or you could offer $1 off the ice cream and $2 off the syrup if you purchase the items together. If you have other products that you want to increase the sale of, tie those two products together via coupons.
Increase Impulse Purchases
People are motivated to save money, especially when it is easy to do so. Asking someone to cut a coupon out of the newspaper, bring it to the store and remember to use it is asking a lot of people. Sticking a coupon directly onto your product, which they can pull off the product in the check-out line, makes using the coupon a lot easier.
Having a coupon on your product will also motivate people to purchase your product. They probably don't need ice cream, but as they are browsing the ice cream aisle and see that they can save $2 off the ice cream, their barrier to purchasing the ice cream has evaporated, and they add your ice cream to their cart as an impulse buy.
Putting an IRC on your products can increase impulse buys, which can help you increase sales and turn impulse buyers into regular customers.
Stand Out from the Competition
If you are offering a new product in a crowded field, such as ice cream, you need to do something to stand out from the competition. Attaching a coupon to the product that lowers the cost of your product below the price point that the competition is selling their product at will help persuade customers to give your product a try over the product that they are more loyal to. Getting customers to switch to your brand in a crowded market can be tough, and using an IRC is one way to help you break through to customers.
When it comes to moving your products, one way to convince customers in the store to purchase your products over other products is by adding coupons directly to your product that people can use when they check out.
For more information on IRCs, including folded IRCs, consult a resource in your area.