7 Coupon Strategies that Increase Online Profits
For most people, the concept of coupon code marketing is a simple and straightforward way of boosting sales. However, you may be surprised to find that this is not necessarily the status quo with every coupon campaign.
The truth of the matter is that rock bottom discounts can have a rather negative impact on a web enterprise. The good thing is that there is still many ways for one to use coupons profitably
Use offer codes to retarget shopping cart leavers
Shopping cart leaving is when potential customers visit your ecommerce website, pick on a product, fill in their details (including email address), and then checkout. However, while at the final stage, for no distinguished reason, they decide to leave the site. When such a thing occurs, you can contact the shopper via email with a coupon code to serve as an incentive for them to return to your site.
Use coupon codes to measure ROI
Coupon codes are an ideal way for tracking and measuring ROI for your coupon advertisement strategy. You can simply start by using a different code for each ad outlet, i.e. one for Google and the other for Facebook ads. This will allow you to see exactly how sales campaigns are faring on.
Use promo codes to reward loyal Facebook fans
You can offer loyalty rewards to those who have been following you on Facebook for a long time. One way to do that is with voucher codes. This is a very good way of showing your fans that you are aware of their support and appreciate their loyalty to your site.
Use discount codes to increase number of customers
Many online businesses can make good use of discounts codes by offering lower prices on certain products to any first time buyer. This particular marketing technique will create some sort of artificial scarcity causing more people to take prompt action and proceed with their purchase decisions. Offering coupons codes at checkout may help convince indecisive individuals.
Use voucher codes to compete with other retailers
Coupon codes can be a rather smart idea for retailers who wish to compete with other sites who sell the same items. Users may prefer your site if you offer, i.e. £10 off the same pair of shoes! You can make your coupons available via coupon and voucher sites.
Use loyalty codes to reward repeat business
You can email a handful of your existing and loyal customers with discount codes, all stating how you appreciate their business and that you would like to offer them a discount on their next purchase.
Use promotional codes to motivate affiliates
If you wish to encourage affiliates to promote your product, an incentive that often works is custom made coupon code that, they exclusively, can offer to their audience. Custom coupon codes are a good way to monitor an affiliate’s sales.
Experienced business owners are today coming up with ways of leveraging discount coupons in order to raise sale margins, expand customer base, and build effective affiliate relationships. However, despite the advantages that offering discounts may have, it must not be your only marketing strategy.