The success of any retail business rests on increasing sales by adding new customers while retaining the existing ones and the conditions are similar for an online store. Coupon code marketing can be a forceful way to drive up the revenue figures and widen the consumer base as everyone loves an offer which helps in saving money or getting something for free. Just like any promotional activity this too needs diligent planning and approach and the following tips will help in implementing this strategy effectively.
1.Target Abandoned Cart Shoppers
All e-tailers know about users who add items to the cart but then leave the portal without completing the transaction due to reasons varying from the shipping cost to the price of the product. They must be prompted to take a positive action and emails can be sent to them with an offer of free shipping or discount. The first mail should be sent immediately and if the person does not respond with a purchase another can be sent after a couple of days and an ideal tactic would be to send them coupons with short term validity encouraging them to buy the item as soon as possible.
2.Easy To Remember Code
The tool, in this case the online shopping coupon code, must not only be offering something valuable but its composition should also be in a manner that makes it convenient to memorize so that it is simple for a customer to redeem it. Merchants have used generic codes for a long time to augment their sales figures but it is prone to abuse as some people might find a loophole in the system and use them more than once. A solution to this was made possible by unique codes but these computer- generated keys are harder to remember and the middle path should be chosen which involves using simple terms and adding some characters to create a unique and easy to recall keyword that will persuade anyone to use it.
3.Retain Existing Customers
A huge and loyal customer base is the dream of every entrepreneur and while searching for new ones, the old consumers should not be forgotten and coupon code marketing is one of the surest ways to keep your user group interested. Identify the visitors who conduct purchases regularly through your portal and send them personalized emails thanking them for the support along with a discount coupon for the next transaction. Consumer engagement can also be incremented by providing an incentive for completing a certain number of shopping visits as the users will keep coming back to the store in hope of that reward. Take care that the offers extended to such clients are different from those being offered to other guests as such preferential treatment will make them feel valued and keep them associated with your service.
4.Focus On Offline Buyers
It is the general tendency of electronic ventures to focus on the online audience for maximizing their return on investments but if they widen their view to include the offline population they will find a large, untapped mass of people that is waiting to be added to their user base. Attend an event like an expo or a trade fair connected to your area of operations and present to interested members of the audience promotional material with coupon codes which can be redeemed via your portal. Make it a point to collect the email addresses of potential customers who can be sent further marketing material. Not many sellers focus on this method but you will be surprised by the responses generated through this strategy.
5.Use Social Media
Another avenue that must be exploited for promoting your venture is social networking because of the large number of people using it. Create specific campaigns keeping the potential user base and their age and location demographics in mind and advertise the offers regarding discount or freebies which must be for a limited period only in order to create a sense of urgency which will help in rapid sharing with chances of the campaign going viral. Another strategy that can be employed is asking a user to perform a certain amount of sharing actions that will make him/her eligible for an incentive. Customize the campaign according to the type of media being used, like hashtags must be put before the offer code and other related terms when publicizing on Twitter. One can also associate with influencers on platforms like Instagram or bloggers with a credible readership by providing such individuals information about your service along with the ongoing promotional campaign details which they can popularize through their accounts.
A commercial enterprise needs innovative thinking and pinpoint precision in strategy implementation in order to grow and expand and coupon code marketing can be a very productive tool if employed wisely by keeping the above- mentioned points in mind.
Alok Singh is a Sr. affiliate marketer at CashBenzo, a company that provides latest amazon cashback coupons.He is a passionate writer and loves to share deal and discounts tutorials for Online shopping.