Also, include social media in your coupon marketing strategy, as 71% of customers follow brands to get coupons and 74% use social media to decide if they buy something. There are billions of users on popular social Offers & deals media channels like Instagram, Facebook, and Twitter, so your strategy should include sharing discounts regularly. This amount of exposure will make you stand out and attract many different types of customers.
Which coupon codes you give, of course, depends on the strategy of business managers. The wrong discount strategy can attract bargain hunters who only buy deals. These new buyers may inflate their sales figures in the short term, but they are unlikely to become long-term customers or build loyalty over time. You can also include in your terms and conditions that only specific products or categories are eligible for the promo code. Alternatively, you can also exclude certain products or a brand, for example. In fact, online stores often exclude their more expensive brands or high-end products from the promo codes they use.
Discount codes sweeten the deal, but it’s up to your marketing and user experience to drive conversions. Promotions are usually a long-term tactic that doesn’t necessarily provide immediate ROI, but it can pay off well over time. Brands can use promotions to increase customer awareness, engagement, and loyalty, encourage repeat purchases, collect customer data, and create customer lists for future campaigns. While the discount may be a way to get people in, if not implemented strategically, it won’t do anything to promote long-term customer loyalty and value.
It’s worth noting that most companies get most of their revenue from repeat customers. Automatic discounts apply to all eligible shopping carts, and customers will see them on the shopping cart page before starting the checkout process. It’s a great way to run a store-wide promotion on one product, category, or all of your products without your customers entering a discount code.
As a result, consumers will feel valued by merchants and even gain a sense of superiority. By using promo codes, online store owners can not only encourage consumers to visit and buy again, but they can also stabilize the good relationship with consumers. Your business page can also be used to promote products and events and communicate with your customers. By regularly communicating with repeat customers, offering discounts, or sharing news, you can build stronger relationships and better understand customer needs.
In addition, discount offers are linked to scarcity, whether it is a temporary offer or only a limited number of products at the lowest price. This creates a sense of urgency for potential customers who can only be satisfied by buying the product now. On Shopify, in the past 365 days, 17% of total sales were made through a discount codeDiscount codes also encourage customers to follow your store on Facebook and Instagram, which helps build brand awareness and loyalty. Consumers overwhelmingly trust that any discount offered by a company is a legitimate discount on the original price. In other words, you can technically increase the price of an item by 20%, then turn around and offer a 20% discount, but consumers rarely consider this possibility.
In fact, they may even encourage their target audience to participate in a marketing campaign. If customers know there’s something for them that sacrifices their time to complete an online survey or share their social media content, they’re more likely to get participants. For example, if you link a promotional code to complete a survey, you can also use it as an opportunity to get contact information and other customer data to help you generate leads. Therefore, promotional codes can actually add more value to your marketing campaigns as well. Rewarding customer loyalty can build an even stronger bond while offering discounts to customers who are already spending money with you. You can easily create exclusive discount codes for specific groups of customers with Shopify.
In other words, your customers need to spend a fixed amount to receive the percentage/amount discount or get the free shipping or gift. However, if you feel particularly generous, you may also decide to apply your promo code to any purchase, regardless of the total the customer owes. This type of code allows a customer to qualify for a bonus item with specific purchases.
GetintheLoop for Business is the bidding platform that facilitates local marketing. We use exclusive offers and unique experiences delivered directly to consumers’ smartphones to help businesses attract and retain new customers. It’s your business, you can decide who the discount applies to, what you want to discount and where and when the discounts are promoted. Test different sales channels for discounted items and selectively use marketing and advertising tactics to see what works best and has the desired effect.