“Deals that offer a certain dollar amount off their purchase (31%) and are least interested in coupons that offer free shipping (9%).
In order to boost sales and keep the sales chart steadily rising, companies around the world are choosing to adopt coupon marketing tactics. It is one of the oldest yet most profitable techniques that will speed up your conversions in an instant along with increasing your brand’s online recognition. The best Australian online discount site is EMUcoupon.com where you can buy items for a reasonable price. About 48% of customers sooner or later choose to buy items on the coupon code. Not only this, more than 37% of buyers spend more than they planned by receiving the coupon.
Learn how to use these conversion tools in this coupon marketing guide. Coupon marketing involves using exciting promo codes, voucher codes, discount offers and limited time deals that are effective to quickly take your brand to the top of the charts.
The rise of the digital coupon
†Coupon codes are a great way to track and measure your ad ROI. Just use a different code for each ad channel (e.g. Google vs. Bing vs. Facebook), so you can see exactly how many sales each campaign has generated.”- Phil Frost, Main Street ROI
Over the years, the use of coupon marketing has maximized revenue and unstoppable benefits for the company and brands. It has been reported that consumers spend an average of 2 hours searching for exciting coupons.
Using Coupon Marketing
If you look at the statistics, you will see that after 2010 the use of coupon codes has increased. It hit its peak in 2013, and now statistics have completely blown the marketers away.
According to the latest coupon statistics, 90% of customers use them somehow. To make sure they use yours, you need to go into the plan.
6 Ways to Create a Results-Based Coupon Marketing Strategy
You know how using promo codes and coupon marketing can be a game changer to spark your ecommerce business performance. When starting most businesses do startup errors† In almost every industry sector, startup failure rates are quite high. What could be the reason behind this? Weak business plan? or unaware of marketing strategies. Well, it’s time for you to learn some new ways to produce the marketing strategy that can help you achieve profitable results in business smartly and efficiently. Here’s a coupon marketing guide where you can learn about the easy-to-follow ways to create your strategy. So, read on!
1. Create interesting discount codes
Discount codes work like a lead management magnet. The moment your customer discovers a discounted offer, he quickly decides to grab the offer. The time-limited thing is interesting because it has a strong psychological impact on the masses triggered by FOMO – the fear of missing out. This increases traffic on the platform and improves engagement leading to more conversions.
To make a great deal, you need to take a good look at your business needs first. Observe the areas that have shown poor performance so that the offer can make a difference. You can add the deal by logging into your platform or with another offer. Most importantly, though, don’t hide your offer at any corner. Keep it visible and impactful.
Another interesting example is “Biko”, a Canadian jewelry brand that offers a flat $15 discount on the first order.
2. Use Limited Time Offers
A discount offer itself is interesting enough to generate revenue, but if you want to speed up the process and double the results, you can add a length of time to the offer. You should set an expiration time or date to create a sense of urgency with your target audience. This makes the offer even more attractive and most researchers also state that it can increase productivity by up to 50%. You need to make your offering stand out and try to dig deep into the market and gather ideas that can help you increase productivity. You need to focus on creating impact through your offering and grab the attention of your target audience in no time.
Marketers plan to give away only a certain discount on the total bill or individual rates of the items. However, a small dollar discount is certainly an exciting technique, but if you delve deeper into the market, you will discover many other options to choose from. You can opt for free shipping offers, some attractive gift items and vouchers to get combinations of packages. You can even give away tokens to enter an online competition to win lots of exciting prizes. So you need to be a little more creative in creating opportunities for the success of your business.
A suggestion is here if you want to monitor the performance of your offers. Use tools like HubSpot to track and determine how many times your customer submitted their email address to get the code. This way you can improve your offers and get better results.
3. The Customer Rewards Program
According to the studies, around 84% of customers become more loyal to the brand that offers some sort of rewards program. An effective strategy in the marketing campaign to expand your customer base through reward programs. When you get a customer who regularly places orders and is active on your website, you need to offer a loyalty program or reward to earn their trust and create an unbreakable bond. The more time a customer spends on your website, the more your lifetime value increases. You have to offer such customers some free deals and interesting offers. You can also strategize your rewards program to direct sales to a specific collection or service.
Endowed progress effect revealed that customers are attracted to reward programs that are started according to their activities than to the one that starts from zero and customers have to start to get the reward.
4. Using smart distribution channels
To make your brand stronger, you need to be able to rely on platforms that are focused on driving better results. You need to select the right channels to communicate with the customers and bring them closer to your offers. About 53% of customers prefer the coupons and promo codes to be delivered via smartphone devices. In addition, the e-commerce business is expected to operate via smartphones up to 72% by the year 2021. The application of distributing coupon codes via smartphones was applied by Rich Media Marketing who shared the codes via SMS.
In addition, social media platforms are an important addition to your marketing game. You can broaden your horizons to increase conversions by effectively using the platforms to encourage your customers.
5. Add creative images
You can use the everyday technique of sending coupon codes, vouchers, discount deals or promotional codes via SMS or you can choose to sprinkle some creativity in it. Interestingly, using visuals can increase the productivity and profitability of your campaign. It can attract a lot of attention and bring more customers closer to your business. Therefore, create a beautiful and eye-catching banner or design in which you focus on your offer to captivate the viewer. Email the vouchers to your leads and share the promo codes in the form of posts on your brand’s social media. Do what you can to infuse creativity and excitement into your campaign.
Social media platforms account for nearly billions of active users. Every platform, be it Facebook, Instagram or YouTube, entertains millions of users every day. These platforms are used to raise awareness and facilitate brands in improving their performance.
Not only this, with the help of social media platforms, many talented artists, skilled professionals and creative thinkers have basked in the glory and profit by entertaining millions of their followers. Even during the pandemic, reputable platforms are playing the role of spreading awareness and helping people connect with each other to discuss the precautions. The social media influencers fight back against the coronavirus with their active profiles and share insightful information with the people.
When it comes to using coupon marketing, social media platforms are the best source to drive engagement. You can schedule various resources such as paid advertisements and short video clips to captivate the audience. Many brands even create discounted deals in the form of attractive GIFs. All of these measures help companies formulate strategies to increase revenue and accelerate brand recognition.
Coupon marketing involves using different tactics like the promo codes which are the combination of letters with numbers when inserted it gives a certain discount. The main difference between promo codes and coupon codes is that they are shareable and can be used more than once. While coupons are only for the specific customer and can be applied once. So you need to know the difference between the many categories involved in coupon marketing and use them according to the business needs.
Self-motivated, team player qualities with excellent communication and marketing skills and self-employed for several years. Extensive experience in marketing & blogging.
- 1 The rise of the digital coupon
- 2 Using Coupon Marketing
- 3 6 Ways to Create a Results-Based Coupon Marketing Strategy
- 4 Complete