Posted: Wed 15th Apr 2015
Mark Pearson is one of the UK's most well-known young entrepreneurs, having started MyVoucherCodes in 2006 for Â£300 before selling the company as part of a deal worth up to Â£55m in 2014. Mark has most recently spearheaded the business' launch of a platform to enable small businesses to increase sales through voucher codes. A sales route, Mark says, that was previously only available to the 'big boys'.
"I strongly believe that small businesses are the backbone of the UK's economy, as well as being vital for the community, so it's important we do all we can to help emerging companies achieve success.
My first businesses were a small restaurant chain and online floristry retailer so I have an emotional connection to small businesses and understand some of the concerns of those who run them, especially when trying to get the business off the ground.
In an age of hyper-connectivity, smaller companies - particularly online businesses - need to find a way to compete with the big retailers to get their products and services out there. Voucher codes are the perfect way for smaller or niche merchants to do just this, as well as generating a wealth of brand exposure, increasing the average order value, building customer loyalty and targeting a market of savvy bargain hunters.
Often though, the costs of a voucher code campaign can be too high for smaller companies to bear and the existing services have been mainly geared towards serving larger, established organisations, taking into account their larger marketing budgets.
I wanted to introduce a platform from MyVoucherCodes that offers an easy, quick and cost-effective way for small businesses to benefit from a carefully planned voucher code campaign.
Four out of five adults used a voucher code in the last year. Shoppers love to know they're getting a great deal and vouchers are the perfect trigger for this emotion. While some users will move on in search of the next deal, many will become loyal to your brand. It is exactly these customers a cleverly-designed campaign can attract, as well as those gained by any subsequent social media sharing. Also, according to a ComScore report, 35% of voucher users say they actually discovered certain products they would otherwise not have been aware existed because of a voucher code.
Launchpad offers smaller companies the chance to run multi-platform voucher code campaigns, but for a more manageable cost. It's ideal for customer acquisition, branding and SEO. We feel the initiative gives access to a wealth of marketing expertise and advice which can be vital, especially as many smaller merchants don't have either the knowledge or a dedicated team to help them devise an effective campaign.
As a way to increase sales and build a brand, voucher codes should certainly be considered."
Mark Pearson is an award-winning digital entrepreneur www.markpearson.com