Smart Ways to Use Coupons and Promo Codes to Drive Sales
Giving out a discount or coupon makes marketing more of an impression. While incentives such as promo codes and coupons can help drive sales, marketers should go beyond just giving out promo codes to potential customers. Below are five smart ways marketers can give out promo codes.
Track Marketing Referrals
Of course, every marketer would want to know the partners and events that drive the most referrals in a trade show. Marketers can close the loop with the help of online coupons. All you need is to create unique codes and give them out during an event. You will see the partners and activities that generated more leads as potential customers redeem their coupon. In fact, Maurices uses this strategy to drive sales and evaluate their marketing ROI.
Coupons will Surprise Your Loyal Customers
You should always keep your loyal customers on the top of mind even as you rush to take advantage of promo codes to lure new shoppers. You can reward your best customers with free offers to generate goodwill. Your generosity might come back in the form of strengthened relationships and referrals. Remember these are the customers that made your brand what it is today.
Reach Out to First-Time Buyers
Of course, a marketer has to invest some money and resources to attract new customers. One of the best ways to lower the purchase barrier for new buyers is to give out online coupons to first-time shoppers. In fact, acquisition of new customers can cost a startup business a lot of money. However, giving out promo codes is a great way to reduce the resources and time spent on attracting new shoppers.
Woo Online Shoppers for Abandoning Carts
It is crucial for an enterprise to re-market to online buyers who often abandon their carts. Customers usually abandon carts when they aren’t comfortable with the price at checkout. However, marketers can use a free shipping coupon to entice such customers to buy more from them. You are more likely to beat the chances of losing potential customers when you use promo codes to draw the attention of a shopper who abandoned a cart. Research has shown more than two-thirds of digital shoppers often abandon carts at some point in time. As such, online shoppers who abandon carts hold immense revenue potential.
Keep Your Potential Customers Engaged
According to the Harvard Business Review, you are likely to generate close to 95% more revenue for keeping your customers engaged. Gamification is one of the best ways to engage your clientele. It helps a marketer stay top of mind of potential customers and keeps shoppers engaged. Online shoppers are more likely to shop from you if they know they will get a free shipping coupon for every ten orders they make. A marketer can use apps to gamify the loyalty experience, track customer expenditure, and roll out promo codes. For example, Starbucks has gained a lot from this marketing approach. Gamification and use of promo codes have helped the coffee chain enhance its loyalty experience.