Coupons and discount codes are an effective and highly popular form of providing offers to end customers and to increase the business as well. This has a double positive impact and is proves as a great marketing tool for both offline and online stores. The discounts and offers that are provided should be formulated very carefully so that they do not topple the actual cause. There are many businesses that have used this couponing strategy to the best use and have emerged successful. There are a lot of techniques that can be instilled along with coupons and these techniques can act as a catalyst in fastening up the positive effect of couponing. Lets have a look at some of the successful couponing strategies that have delivered real results.
Partnering for Distribution:
This acts just like a cross promotion strategy. You partner with companies to whom you offer your discount codes and coupons and they distribute it to their visitors and customers. The partnered company can be offered a percentage of profit as an incentive to boost the promotion and distribution activities.
Keep a Track & Measure the ROI factor:
It is not enough if you offer coupons and generate sales. It is equally important to track the customer behavior and preferences. This is very important to know how much is the cost incurred for the couponing activities and how much is the benefit incurred out of the activity. It is also a wise idea to allocate different codes to coupons distributed through various partners so as to track the number of coupons redeemed.
Retargeting is a strategy that is used to lure the inactive members and customers and attract them back to shop. This can be done by analyzing their past purchase patterns and send them offers related to the products of their choice. This way when an offer is communicated to them repeatedly, they will be in fact to stimulated to buy coupons such as those on https://7coupons.in/store/flipkart/.
Cart abandonment Strategies:
In online shopping, there are a lot of cases wherein customers shop leisurely and at the end of the shopping activity exit out without going through the billing process. This might be due to the fact that the total billing amount was above the budget or since the shopping coupon code they had didn’t work right. Whatever is the scenario these abandoned carts can be offered at discounted prices at definite time intervals. So this can be used as a mechanism to tap customers and lure them to purchase such carts.
Use Social Media as a Platform to promote:
With the humungous growth of social media and the place it has occupied in each persons life, anything advertised on social media becomes a hit for sure. So take this effective marketing weapon in hand to succeed in promoting your coupons and finding prospective customers for your business.
Attach timelines to coupons to instigate fast action:
Attaching a deadline or a certain condition to the coupon like offered only for the first 10 purchases will stimulate the individuals to plunge into action fast. The scarcity factor encourages and pushes the people with a dilemma to go ahead and make the purchase.
Customize your coupons:
The ultimate aim of the couponing concept might be to increase sales, but there are various ancillary features that have to be checked and made use of. Coupons have to be customized according to the channel through which they are distributed to have a clear picture of which channel has made the most appeal and which one is most effective on the ROI factor.
Convert coupons into complimentary gifts:
Coupons can be distributed to loyal customers as a sign of appreciation of their brand loyalty. You could offer coupons that they could use it during their next purchase in your store. This gets multiple tasks accomplished, first it creates a bondage between the customer and your company, next the customer feels rewarded and happy, you promote your company and pitch your next sale also.
With all these techniques and a lot more that is sure to tap your minds, you can use the couponing system to the ultimate use and promotion of your businesses.