The truth is, everyone enjoys a good deal. Offering a great bargain to the correct customer could help you stand out from the competition if you work in the e-commerce industry.
Or it can just be what moves a customer from being a mere prospect to a real buyer.
There are proper and improper ways to use promotional codes, which is the problem. There are many right and bad ways in addition to this. Join us as we examine 6 of the best ways to include promotional codes into your eCommerce marketing plan if you're unsure of what to do.
Promo codes are effective because they give customers an incentive to make purchases; they appear to be too wonderful to pass up.
The business growth advantages also apply to you as the business owner, though. When a customer makes a purchase, you make more money!
Naturally, you will initially lose out because you're selling your goods for less money, but you need to consider the wider picture. By utilizing promotional coupons, you foster long-term client loyalty and spread goodwill. Both first-time clients and returning customers could benefit from using them.
PROMO CODES CAN BE USED AS LEAD MAGNETS.
Lead magnets are effective tools. An eBook is a common example of a lead magnet that is given away for free in exchange for a lead's email address. In essence, a lead gives you their email address (and possibly other personal information), and you give them the free item in exchange.
Why not start now by providing discount vouchers in exchange for a potential customer's email address?
To get the most out of this strategy, be sure to gather all the necessary fundamental data to build a killer email marketing campaign. For instance, you may simply get their email address, but you could also want to get information about their preferences and purchasing patterns.
All of this is crucial since email marketing is still an effective approach to developing rapport with your clients and, ultimately, expanding your online business.
CUSTOMER LOYALTY IS REWARDED WITH PROMO CODES
Research has proven that keeping current customers is significantly more cost-effective than continually acquiring new ones, yet keeping current customers isn't always simpler. There are some things you must do to persuade visitors to return.
Promo codes are a fantastic method to acknowledge repeat business because they make people happy. They'll think highly of you if you can convince them that you appreciate their continued business and are doing an action to address it.
In essence, you're demonstrating to individuals that you appreciate their business.
Rewarding devoted customers with free shipping coupons is a smart concept. Make their day by providing free delivery on the items they truly want to purchase because it has been demonstrated that excessive or unexpected shipping prices are one of the main reasons customers leave their carts empty.
JOIN IN THE CELEBRATIONS WITH YOUR PROMO CODES
What do you do with Christmas right around the corner? If you don't use your promotional codes creatively, you'll lose.
Consider this: Your customers will buy something because they are in the market to do so.
you entice them with a deal that sounds too good to be true so they purchase your goods?
It's crucial that you make the most of the holidays possible because one thing is certain: Your competitors undoubtedly are.
National holidays, special occasions, and even significant sporting events are well worth honoring with discounts because they're excellent opportunities to draw in new clients. For instance, using discount codes on Valentine's Day will be well received by your clients if you run a perfume shop.
Don't forget about the exclusive discount code for your customers' birthdays if you're concerned about giving them a tailored experience.
Get their personal information in advance and don't pass up the opportunity to surprise them on their special day.
Make some time to consider the numerous seasonal holidays and occasions that are pertinent to your brand before coming up with promotional offers. Run an innovative, attention-grabbing promotional campaign throughout the time frame.
All things considered, the largest dilemma you might be experiencing is deciding when to launch your marketing. You could be tempted to launch your promotional activities extremely early given that 40% of holiday gift-givers complete their Christmas shopping before Halloween, according to previous NRF research.
However, you must consider the specific goods that you offer.
You should start your ads quite early, for instance, if your items often demand the buyer to make a lot of decisions before making a purchase. On the other hand, if the majority of your products are low-cost, budget options, you can start later.
Offer discount codes for expensive items as soon as you can, then reserve your promotional campaigns for the less expensive ones around Black Friday.
Social media promotion codes for the win this holiday season
The success of your online store depends greatly on social media promotion, so here's an idea: Why not use your promo codes in conjunction with it?
Not utilizing the growing number of platforms that enable social commerce, where your audience may purchase your products with a single click, would cost you a ton of money.
It's easy; for instance, you may give a discount code to any website visitor who follows, advertises, or shares your social media accounts. It sounds simple, right?
Simply advertising your pages is all that the client needs to do. They receive a discount if they do it. It benefits both parties.
The kind of discount you provide customers should be straightforward, such as a flat-rate cash discount on their next purchase or a percentage-based discount.
USE PROMO CODES TO RETARGET CART ABANDONERS
Unbelievably, 67.91% of customers will leave their shopping carts empty. That seems pretty high, and it does imply that you'll miss out on a significant number of sales that were so close to being closed.
The good news is that you can definitely re-engage cart abandoners in the game. Promo codes are one of the finest ways to achieve this.
Always keep in mind that someone's cart is always abandoned for a cause. The final cost might not have been exactly what they anticipated, or the shipping expenses might have been excessive or unexpected.
Whatever the cause, examine your sales funnel to determine where customers are leaving off the path.
Ask customers for feedback via email and surveys to find out more about why people leave their carts empty.
Then make abandoned cart discount codes that encourage customers to come back. For instance, you may provide $1 (or free) shipping.
Using Facebook advertisements would be one method to make it happen. Utilize Facebook insights to maximize the effectiveness of the advertising and the data Facebook has collected to retarget the appropriate audience.
Your content only needs to say, "Finish checking out and enjoy FREE shipping on your next order," in order to attract these leads back and convert them.
Make exit-intent promotional codes.
This one is a little like the one before in that you're aiming for users who have expressed interest in what you have but are still heading elsewhere.
The basic idea behind an exit-intent offer is that you give it one final try with a discount to convert a visitor.
Consider a scenario in which a user has been browsing your website for a while without making a purchase or even adding anything to their cart. They are interested but require encouragement to seal the transaction.
As a result, you deploy an exit-intent popup to provide them with a discount immediately before they leave your website.
The benefit of using an exit-intent promo code is that you can later retarget users with an abandoned cart offer even if they don't convert after adding items to their cart. Create exit-intent offers for promo codes, but remember to first get the user's email address since you'll need it to do this.
These are the six innovative methods that the top e-commerce businesses in the sector utilize to include promo codes in their marketing plans. However, it's also crucial that you don't go overboard, as doing so could make your clients so dependent on you that you effectively teach them to wait for deals.
Use them selectively, and wisely, and check to see if they're fostering genuine client loyalty.