03 Mar
Do you remember that time when you were e-shopping? You chose your items, reviewed your cart… and the moment you were going to proceed and buy you saw that little field just above the total with the mention: “Enter your special code”
Remember how it felt?
Everyone loves a good deal of course… but the way you incorporate coupons in your marketing strategy should be studied thoroughly.
One thing to consider is “what type of coupons am I going to use and for which audience?”
Let’s dive in!
1. Gift cards
Definitely the best converting type of coupon.
Digital gift cards are quick, efficient, and easy to track. It is “free money” to use for their recipients, most probably for a brand they like (recurring customer!) or didn’t know (new customer!).
Let’s not forget that many gift cards will expire before being redeemed…
While it is most of the time bought by friends or family, it can also be used as an incentive in a promotional campaign.
From Cezium experience with our clients, this type of coupons performs best when used in:
Welcome series
Birthday series
Or as a reward for best customers
2. Discount codes
A discount code allows your customer to pay less than the listed price for an item (either percentage or fixed amount).
It is often used to attract new customers; they will easily give their email address to get the precious discount… and we all know how an opt-in is valuable.
When you are using discounts, try to adapt the bait to the target: neither too cheap nor too expensive.
Discounts are most effective when used:
For Abandoned cart retargeting
As a Sign-up incentive
For Local store-based discount
3. BOGO!
Also known as « Buy One, Get One (Free) ».
This coupon is generally offering the customer a product free of charge if purchased with another product of the same amount or more.
It can look like a disguised discount but as it is related to a product, it definitely does NOT belong to the same category of coupons. As a matter of fact, preparation is not the same. A discount is always applicable whereas you should be careful regarding supplies when you use BOGO.
How do you think a customer feels like if the free product is out of stock?
This promotion is best used when you have too much stock and need to sell it quickly.
4. Free gift
A free item in an order is always a good surprise, because it is free!
This coupon strategy is useful if you want your customers to buy more. Specify a minimum price or the brand/category in which the purchase must be done to get the gift.
You can also display “locked” free items in the cart that need a few more bucks to be unlocked.
Most Beauty retailers are using this strategy, free trial size anyone?!
5. Event coupons
The main goal of this promotion is to drive event attendance. If you want to boost your registrations or ticket sales, this is the promotion you need.
Before the launch of your event, send a coupon to your past attendees as it is a good way to reward participant loyalty.
An early bird discount will boost your event launch, while flash or seasonal sales will boost your sales during low buying times in bringing new participants.
Stay up to date on our marketing or Salesforce Marketing Cloud posts in subscribing by email:
Related Post
Copyright © 2019 Cezium. All rights reserved.