Digital coupons are rebates and discounts provided to current or prospective customers by retailers. By giving a certain percentage discount, free delivery, or another discount, digital coupons are most often aimed at tempting a customer to purchase on the retailer’s website.
In reality, coupons are deals, and everybody wants to feel like they have found a deal. However, beyond simple discounts, there are a lot of fun ways you can use coupons, and each of them can help you drive more sales.
An introduction to Coupon Marketing
The basic marketing strategy for coupons is simple: you send out vouchers or codes that users can redeem in return for free goods and discounts. The advantages of this method are various, including:
- Helping you to make enticing deals to push further sales.
- Having more clients back.
- Driving more traffic through social media to your store and drumming up curiosity.
- Clearing out the warehouse of unwanted goods.
Everyone ultimately likes a discount, which is why coupon marketing works so well. However, when it comes to e-commerce, using easy discount coupons is way too simplistic an approach.
Digital Coupons will Stay
There appears to be no slowdown in the inclusion of retailers’ digital rewards. During the holiday shopping season, we should expect it to peak, with more offers selectively provided far into the New Year.
More and more, along with product and promotional messaging, customers expect coupons. Retailers who do not offer discounts and digital coupons are losing and missing their chance to rivals.
Some numbers that describe the importance of digital coupons:
- Coupons are used by 90 percent of customers.
- By 2022, digital coupon redemptions will top $90 billion.
- 63% of shoppers state that they want coupons to be more available.
- Discount emails have a revenue boost of 48 percent per email.
Coupon Marketing Strategies to Increase Sales at your eCommerce store
The toughest part of running an e-commerce shop is, by far, convincing new visitors to purchase from you. You can start building trust after they’ve made a purchase, then get them to come back.
A common strategy that many online retailers use is to offer first-time buyers coupons with tempting discounts. To show the deal, you can also configure an exit purpose pop-up, so you can target visitors on the way out of the virtual door.
We are willing to bet that your inbox gets filled with discount coupons if there’s a seasonal change or a common holiday. Some dates, such as Christmas, are better for sales than others, but there is almost always a chance to use date-specific coupons to drive sales.
You may either screen coupon deals on your home page or contact your list of subscribers via email to do this. Nothing in practice prevents you from using both techniques.
How much you receive on average for each purchase is one of the most important metrics for an online shop. Logically, you want the number to be as high as possible, and a perfect way to get there is to use coupon marketing.
People can spend more money when there are discounts involved than they would have done otherwise. You can benefit from this by offering coupons that only trigger a specific monetary amount for purchases.
Ideally, your store would sell every single product or service equally. You will often, however, run into situations where particular items do not perform as well as you would like (or hope).
This becomes an issue if we’re talking about physical products because you’re stuck with merchandise taking up space.
How to market coupons to your customers?
You can send emails to your subscribers with discount coupons and deal availability information. Another way to promote your coupons is by putting them on your social media handles where people admire your brand and follows you. Resourceful and creative content lets you stand out from the crowd.
You can advertise your coupons on various platforms. This can be done physically and digitally both. Sending discount coupon SMS is another way. Be responsible for texting as this is still a modern medium for distributors and when it comes to direct communications, it can easily cross the ‘what is appropriate’ line.
One of the best ways to get consumers to buy could be to provide affiliate links with attached discounts.
Ecommerce extensions and tools to offer discount coupon codes
Several eCommerce tools can be used to entertain your visitors and to increase customer engagement in your online store. If you are witnessing higher cart abandonment on your store then you should optimize the content and web pages to decrease the bounce rate. If you are not sure about the tools you can use to offer discount coupon codes then you have come to the right place.
This section of the article focuses on the most used pop-ups and discount coupon generators that eCommerce store manager should add for better customer engagement and uplift their sales.
Welcome popup: These are presented to the visitors when they hit on your website. The moment they arrive, a pop-up window will show up with a discount coupon. Spin and Win extension is a gamified popup that you can use as an entry pop-up. It works well to increase customer engagement and conversion rate.
Exit popup: Next in the row is the exit pop-up. For instance, Exit Popup can be used for the customers who are leaving your website without completing the purchase. The coupon with a discount might change their mind and convert them into a potential buyers. Also, exit pop-ups are intended to increase customer retention.
Gamified Popup: Adding fun elements to your eCommerce store is the best way for increasing customer engagement. Visitors spend more time than the average when a store has a gamified element added to it. You can add a spin and win wheel like a pop-up or a scratch and win coupon tool with discounts and other coupons like Buy-1, Get-1.
Recommended Read: How Gamification Increases Customer Engagement on Your eCommerce
Review reminders: Another way to offer coupons or discounts is by incentivizing the customers against feedback. You can ask your customers to drop a review and give them some reward points or discount coupons that they can use in their next purchase. The Review and Reminder module by KnowBand is a perfect choice!
Abandoned Carts Alert: Are you facing a lot of cart abandonment on your online store? Don’t know how to bring lost sales back? Abandoned Cart Reminder module can help! The module is designed to send reminder emails and pop-ups to your abandoned carters. You can send various emails with different content and can share discounted and non-discounted messages.
Recommended Read: How you should plan your Abandoned Cart Reminder Email for your online store?
Push Notifications: You often receive push notifications from the applications you have installed on your mobile phones and from the websites you have subscribed to. The Push Notification with Discounted Coupons is a great tool for increasing customer conversion. A discount that is valid for a limited period forces your customers to visit the website once and they often make an impulse purchase.
Price Alert: The Price Warning Addon provides the web store admin with a channel to improve customer interaction. This addon helps the consumer to set a product’s price alert. The customer will receive a customized email with a price drop notification. If the product price is below the threshold, 70 percent of online buyers would turn into buyers.
Wrap-up
E-commerce gives you a lot of options in more innovative ways to use coupons than just providing discounts. Coupons can help you improve sales in particular circumstances with the correct strategy, and you can even try out new approaches whenever you want. You can prepare templates for every event and use them well before. The discount coupon modules and software developed by KnowBand are available for all the major eCommerce platforms like Magento, OpenCart, PrestaShop, WooCommerce, Shopify, and others.
Recommended Read:
