Since the rise of online shopping sites, promotional deals, and discount offers have become anchored to online shopping completely. Every business that is online must have to offer on its online platform so, new buyers can be attracted and regular buyers get a fair deal while shopping. Such free shopping vouchers and discount offers are very tempting and popular among customers but what do they mean to those who provide such offers? Are these promotional deals and discount coupons calculated or do they lead to a financial fiasco? When creating, the right sense of proportion and the correct assessment of the costs are very important. Plus, the right target market and the correct platform must be considered. It is a basic rule that one shouldn’t offer deals that can harm the business financially.
Here, we have mentioned some important things for online businesses that provide discount offers to the customer.
Plan and Calculate These Promotional Deals Correctly
Precise planning and calculation are the basics for the successful implementation of vouchers and discount offers. This is the only way to ensure that what is actually profitable for the business does not turn into a financial catastrophe. So, one should consider these questions:
Who should benefit from the discount or voucher?
Here, one has to define the target market and know what is their customer market.
- New customers
- Regular customers
- Families with children
- Old or young couple
What kind of promotional deals should be made?
- Voucher or coupon code
- Discount when for the new customers
- Discounts for regular buyers or discounts on purchase above a certain amount.
- Free gifts
What budget is available?
- Has the promotional campaign been funded?
- Is there any counter-financing?
- Which additional personnel costs arise?
- How high should the discounts be?
- Are there any experimental values?
- How do you calculate the discounts so that you don't end up paying extra?
- What is the cost of marketing?
- How many people should/can benefit from the offers?
- Is there a time duration?
When should vouchers, discounts, or special offers apply?
You have to decide a time limit to any kind of promotional deal you are offering.
- A whole year
- In particular season
- On festive occasions or holidays
- On a certain day or week
Where can the advertisement for discounts or coupons be done?
- Website
- Newsletter
- Brochure
- Other coupon and discount offer promoting web portals
Have there been any discount campaigns or vouchers in the past?
- If so, how was the customers’ response?
- Were the calculated costs the same as the actual costs?
- Was there a surplus, financial loss, or a zero-sum game?
New and Regular Customers Should Be Given Special Consideration
Two target groups are particularly important and attractive for you as a customer. These are the customers who make a purchase for the first time and those who have been with you for a long time.
Regular Consumers
Such consumers guarantee regular sales. Therefore, special advertising should always be given. This works particularly well if you offer you small vouchers or discounts for the next purchase. Most of the online shopping sites offer coupons for the next purchase. The new online weed market in Canada has a number of sites such as Weedsmart, CannaWholesalers, budmail, and many more that offer frequent promotions and discount deals to the customers. But one has to make sure that these offers immediately catch the eye in the regular customer newsletter or in a personal email. Personal contact between regular customers and the business is particularly crucial here.
New Customers
New consumers are essential for every company. As a rule, however, you cannot reach them via the customer newsletter or e-mail. Rather, the large customer community is important here, so that potential guests will become aware of you. Here, too, it is important to take a close look at the target customer market. You have to know where your target consumer market on social media or use Google ads to reach potential customers and advertise your promotional deals for the new users. As we said, online dispensaries have such great offers, for instance, Getkush has a 5% discount on first purchase along with two free gifts. So, the customers must be aware of such offers and they should be enticed to grab your discount offers and the product qualities as well.
Advertise Effectively Promotional Deals, Coupon Code, and Discount Offers
In addition to the target group, the location at which discounts and the like are to be advertised is also decisive. Of particular importance is certainly the Internet, which offers a wide variety of design options. This includes, above all, its own website and various online portals such which only shows coupons and deals to the customers. You can control the use of vouchers and discounts on your own website very well. Email and newsletter are also very suitable for advertising.
But Be Cautious
At this point, we would like to briefly look at what is known as online couponing, which is currently really trendy. However, experience there shows that well-intentioned actions can quickly backfire and entail enormous financial losses. Online couponing usually takes place on specially designed websites. The use of these platforms is very easy and still full of pitfalls. This is mainly due to the fact that the number of vouchers and the duration of the discounted deals are often mentioned inaccurately or they do not update them regularly. Quite a few voucher providers have already fallen painfully on their faces there as it could show your business in a bad light among the customers.
Bottom Line
Discounts, vouchers, and other savings campaigns are an effective means of attracting more consumers. This is especially perfect for the times when you are new, due to heavy competitions, or seasonal products. Nevertheless, you must not get twisted up in a discount war that will end up costing you more than you expect. Accurate planning and precise calculation play important. If you think you have many more ideas and things that should be considered while designing “saving on shopping” with deals and offers then, let us know your creative thoughts through the comment box.
