Coupon marketing is one of the most profitable techniques that comes with several outcomes. When a business plans to increase its sales, it comes up with savvy marketing tactics, one of which is promoting coupons. A business offers discounts, promo codes, and vouchers to attract and engage customers.
If you look at the statistics, around 60% of consumers love to receive a coupon and 50% get more interested to visit the store if they have a voucher. The outbreak of COVID-19 contributed to a drastic upsurge in its usage. Around 92% of online shoppers hunted to get a discount while shopping online whereas 60% have stated that having coupons is convenient and effective.
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However, to reap the benefits you need to have a result-oriented strategy and learn about the tactics to manage digital coupons efficiently. Here is a detailed guide for you.
Why You Need a Dedicated Coupon Marketing Strategy
Coupons are tailored to meet the targets and goals; increases sales and helps in beating the competition. Whether it's a small-scale business or a multinational giant, every business is intrigued by its vast outcomes. It's high time to create one highly targeted coupon marketing strategy for your business as well.
However, the first thing you need to understand is your business requirement. You need to know where you are standing and what measures you need to ensure profitable results through a dedicated campaign. You must know that constant and excessive discounting leads to brand damage.
Your target audience may begin to consider your brand as less desirable. Apart from this, discounts and promo codes may even lead to having one-time buyers and reduce brand loyalty. Therefore, you need to create a cunning strategy for your brand to reap out the best results.
First, you need to find out what's the purpose behind your coupon advertising. You need to know what targets you should be aiming for. Whether you want to generate sales leads or simply want to increase the subscriptions. Whatever your targets are, do discover them before proceeding further.
The next part is your design. The only trick to garner attention is by creating an impact through engaging coupon design. You need to choose your brand colors and add emotions to the image. Make sure to get equipped with designing tools like Canva and Adobe.
The next most important aspect is the script of your coupons. You need to capture the attention straight away, as there is not much space on the coupon. You need to create the script keeping your main keywords in place with the offer right in front.
It's important to mention the expiration date on your coupon. When you plan to select a date, make sure that it is not more than 4 to 5 days. This will increase the likelihood of your consumer redeeming the coupon. As many consumers usually forget, they have a coupon and miss out on the offer by mentioning that the offer is a limited time one will create a sense of urgency among the audience.
The real push you can give to your target audience is by adding a creative call to action. You can use below mentioned inspirational CTAs:
➤ "See what we prepared for you"
➤ "Claim your deal now"
➤ "Start saving now"
You need to stay innovative if you want to stand apart from the clutters. Back in 2015, Coca Cola moved barriers to successful promotional and marketing by creating something called ‘drinkable advertising’. It’s no surprise that the soft drink company was also behind the invention of coupons. Innovative thinking gave birth to coupons so it’s only natural for coupon campaigns to be innovative as well..
Effective Ways To Use Coupons To Increase Online Sales
The pandemic has forced and encouraged consumers and marketers to turn towards using online outlets and platforms to shop and do business. Whether it's e-commerce or service-based industry, the use of coupon advertising will prove beneficial. You need to design your coupons in a way that keeps the audience involved with your brand and leads down the road to conversion. So, here are some distinctive and result-oriented ways to boost your sales through coupon advertising.
- Create Lead Magnets Through Coupons
Creating lead magnets proves effective to stabilize your brand's performance. As the name itself suggests lead magnets are coupons that are created to drive conversions and traffic. These coupons and discounts are placed in areas that are more prone to attracting the audience. They mainly revolve around offering incentives to the consumers.
For instance, on the account of sharing your email address, you can have a certain percentage off on the services, subscribe to the brand's newsletter and get a free giveaway; such are the kinds of offers associated with lead magnets.
To ensure your consumers come back to you, carry out comprehensive research on the brand's website and gather details of the areas that most likely can attract the customers.
Personalization has become the most important and widely used marketing technique. When you design the coupon code marketing campaign you need to make sure that it has a personalized touch in it. You cannot just go straight out offering discounts to your target audience, you need to keep a track record of their past purchases and connect them with your promo codes marketing.
Moreover, around 79% of consumers say they feel more inclined to engage with a brand, which offers personalized coupons. Therefore, you need to get on the data mining techniques to gather the details and information of consumers.
Limited time offers are incredibly efficient in reaping out the benefits as they are based on the fear of missing out on psychological feelings. Limited time offers often incentivize customers to buy items they would have otherwise ignored. Furthermore, as per the studies, millennials have been receptive towards the limited time offers and they find them appealing and useful.
However, to make your coupon perform well you need to introduce your offer during any new product launch or on special times and occasions during the year. You have to wait for the moment when the market is ready to shop and would be more inclined to ponder upon your offer. You can promote your offerings through
email coupon marketing as well.
If you want to make sure that your promotion of coupons helps in maximizing your brand's performance then you need to dig into your analytics and strategize your move. You need to find out the reasons why there are fewer sales on your platform. Maybe because consumers are abandoning the cart or not showing much interest in certain products.
To fight off these hurdles you need to strategically plan your promo code advertising. You need to offer codes at the time of checking out or can be on referrals. You can offer discounts like 30% Off
J Jill Discount Code to first-time shoppers and to those who return regularly to your platform. Apart from this, HubSpot is an effective tool that can help you keep a watchful eye on your conversions. You can gauge the rates and analyze just at the moment when there is a decrease.
To encourage customer loyalty, you can work on offering a reward program. The program is based on Lifetime Value (LTV) where the longer a customer stays loyal to the brand and continues to shop the higher the LTV. It's a smart move to increase lead and sales through marketing discount codes.
According to the statistics, around 84% of consumers are more inclined towards shopping for brands that offer Reward programs. However, to keep them stay engaged and involved with your business you need to come up with profitable coupon marketing ideas. For instance, you can offer giveaways to those who have reached a certain level and a flat discount for shopping more than once a month. There is one more trick; you can offer some percentage off if the consumer reaches a certain higher amount.
When a new customer qualifies for your Reward program, you must offer some free points to them for encouragement. As per the Endowed Progress Effect, customers get inclined towards a program where they have already started instead of relying on the one where they have to build from the start.
Potential Distribution Channels For Your Coupon Marketing
Even though you have a forecastable coupon strategy in place with a beautifully designed ad, you need to think about how to get the word out. You need to get your hands on the most potential distribution channels for the marketing of coupons. As per the statistics, around 53% of consumers want coupons to be delivered digitally. Hence, you need to switch to digital coupon methodology, as 72% of eCommerce will be done through smartphones.
When talking about eCommerce coupon marketing, promotion through emails comes as an effective measure. Emails ensure targeted outcomes. It reaches out to the audience and creates a potential lead funnel. Emails as used for specific purposes only play a vital role in spreading the news about your offering. So, try relying on it, if you want to ensure good results.
If you want to see the magic of social media, post a story on your profile with an offer to avail of the discount as long as the story lasts. You will be left shocked by the outstanding response you get. Social media platforms account for over a billion active users. These platforms play a vital role in providing the required boost to brands even to the newbies.
Coupons on social media receive the utmost attention. Whether you create static text-based posts or a short video, all of them perform well.
Social media coupon campaigns have the potential to drive in-store product trial, start conversations, build a fan base and start conversations in short they can boost brand engagements and awareness. All you need to do is to come up with engaging techniques like interactive posts, GIFs, and short-lived stories to offer such discount codes marketing that becomes irresistible.
Whether it's about Facebook ads or Google Display Ads there must be promo codes or voucher codes mentioned. It helps in finding out the most potential platform your audience visits and from where you can approach them. Paid ads are faster in reaching out to the target audience as they are based on deep analysis. Moreover, paid ads ensure potential lead generation so never leave your ad devoid of a coupon code.
- Other Discount Code Promotion Tactics
Where email, social media and paid ad marketing are the finest techniques there are other tactics as well that can help you dig out the possibilities for better success and business. You can work on creating affiliate links, send codes through mobile messaging, and even opt for influencer coupon codes.
Wrap Up
As you have learned about the insights to coupon promotion and gathered some potential tricks to make your campaign work, it's imperative to understand that you need to prove your stand to be different. You need to get into the shoes of your consumers and understand what they want. Connect with them, and build a bond rather than simply selling your goods.
Make your coupon engaging and directed towards a purpose. Lastly, do check the performance of your campaign and revise it based on your findings. In this fast-paced digital world, it’s important to stay alert and conscious. Rely on tools like Google Analytics and make your campaigns work in the best possible way.
Published on: January 13, 2023
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