In this post, we will discuss the meaning of digital coupons and 5 different ways how they can be used for the online store to attract customers.
So if as a vendor you are not using coupon codes, you must start using them as they show a high impact on the sales. The customers always look up for the best prices with a maximum discount or added benefits.
As similar products are sold by many vendors, you must try something different to stay unique and competitive. At such a point vendors opt for the discount coupons to give their customers a distinctive advantage over others.
To get the maximum benefit of coupons, it is important to understand how to implement them well. Now, none of the business people likes to spend their time deciding weekly flyers, organizers and clipping or printing the coupons.
The customers can be easily targeted by using different and correct marketing strategies such as text messages, emails or social media accounts.
More and more retailers are moving to digital coupons to sell the products easily and explore new ways to share coupons.
Along with selecting correct coupons, it is important to understand that they benefit customers also. Instead of sharing the same coupons repeatedly, the customer’s preferences and relevancy must be checked and coupons must be decided accordingly.
Meaning of digital coupons
The digital coupons can be termed as promotions or discounts that are offered by retailers through Retail Software or vendors to the customers. These coupons are specially designed to attract customers to purchase from the company.
The discount coupons are mainly shared over the website and are generally of free shipping, specific discount or another offer.
Now we will discuss 5 ways in which the coupons can be used in a better way for your new startup or the ongoing online store.
Bring back lost customers
It is seen that offering a discount or sending coupons to the already lost customers can convince them to come back to your company. Sending the coupon codes through emails or in messages can bump up the chances of getting the already lost customer as none of the vendors wishes to fire up the existing customers. A properly placed discount code especially settled in the subject line of an email can help to bring back the customers to your site and make a purchase of your products. People always like discounts and coupon codes and hence must be targeted accordingly.
See also: Why Shoppers Should Use Coupons?
Opt for sponsorship
If you are a good listener, you must have listened to the radio people or podcast people telling a few codes or coupons again and again from one of their sponsors. It is because the sponsored vendor must have researched well and figured out that the expected audience tends to listen to these shows in a large quantity and they will contact vendors by listening about their preferred products. The approach is used for any type of media and at any time, but generally, it is most effective for the timely offers whose coupons expire eventually.
If you are a vendor and are confused whether the invested money in such a place would not be received back or is not worthy, you can also opt for the host sales commission. This commission means paying an incentive to the person who is ready to invest his time into your products. It can also be used to increase or support partnerships. The coupon codes are considered excellent ways to bring more audience along with the ads. You might also like to opt for an arrangement where if the customers buy a specific product they get a complimentary product for free or at a discounted price.
Track income sources
Different coupons can be used for different departments or sales channels to make the calculations easier. This analytic-free method helps you to determine which coupons work well for your business and which are of no use. If fewer people enter the coupon code from one source and more people get the code from another source, it becomes easy to understand that the other source is more reliable and revenue-generating. This also helps to understand which coupon codes much be kept and which ones must be discarded.
Share incentives
A lot of paid shares are famous on social media. It is usually for the posts or stories where the user earns something on each share they make. The same format can be used for discount codes or coupon codes. It can be dealt with as share details on social media and get a fixed discount.
This helps to opt for both repeated business and personal recommendations by the story sharers. But there is a downside of this approach, which is all the people are targeted instead of targeting the audience who is already interested in purchasing the goods and services you provide. It can be seen as a long term journey with individual shares but can be useful for the people who are looking forward to getting more followers.
Rewards are great options
The rewards can be given to the customer for any specific thing. For instance, the rewards can be given for subscribing to the company’s newsletter or for going for premium service, also some of the rewards are sent as birthday gifts that motivate the customers to enter their age. The age data becomes helpful in suggesting products to potential customers of a specific age group. Also, it is a good idea to have a list of repeated customers and reward them the coupon codes on holidays.
If you don’t get any specific reason, it is not a big issue, feel free to give away the coupons randomly to the customers which makes the customers eager to wait till the next promotion instead of moving to other competitors. Also, try to send the coupons to the customers who have never purchased to start their journey with your company. A gentle comeback or pull can prevent them from permanently moving to other sellers. Apart from all these, the coupons can also be generated for the customers who have faced issues in receiving their order or who might have received damaged product to give them a better experience of your company.
Conclusion
These were major 5 ways to use your discount coupons in a better way for the online store. Not only are these ways but their many other ways that depend on your customers or the type of products that your company provides. Make the best possible use of the discount coupons for your lost customers, existing customers as well as attract new customers to your business and grow well.
Read more: 9 Tips for Using Coupon Effectively on Growing Business.
Aftab Vasiwala
Aftab Vasiwala is nurturing his future at Techimply as Software Analyst and Writer for Billing Software with good experience in various genres of blog writing in various industries under the several topics. Who loves to write on the latest Software technologies and their impact on business’s.