Customers’ behaviors are always dynamic. However, one thing that never changes is their love for coupons. The availability of coupons can influence the buying decisions of consumers. Coupons allow customers to save a good amount of money with every deal. Indeed, digital coupons are intended to offer discounts. However, there are several fun-filled ways to use coupons and drive more sales. So, what coupon strategy will lead to a sharp increase in your sales and revenues?
Let us talk about coupon marketing and the best strategies you can implement for your campaign.
What is Coupon Marketing?
Most businesses and marketers consider coupon marketing as the best tactic to lure customers to buy products. As coupons offer special deals and discounts and customers want to save money, it results in more sales. Your business can also gain customer loyalty by offering online coupons.
Coupons available as promo codes are of 2 types. If it is a generic code, anyone can use it to get a discount. It is available through social media, advertisements, and email newsletters. On the other hand, personalized promo codes are unique and are not shareable with others.
Coupon codes are advanced marketing tools that
- Build brand image
- Increase your sales
With the right infrastructure implemented for your coupon campaign, you can track data for your CRM. This data is essential to boost your marketing effort.
Let us analyze the latest data about coupons before talking about coupon marketing strategy. According to Insider Intelligence, more than 90% of Americans who choose online coupons have used their mobiles in 2022. In 2023, this percentage reached 92.3%. So, we hope that the percentage will increase in the coming years.
Popular Digital Coupon Marketing Strategies and Ideas
If you want to increase sales with coupon marketing, these strategies will work for you.
Reduce Additional Costs by Offering Discount Coupons
Abandoned carts are the biggest concern for eCommerce business owners. More than 60.99% of shopping carts get abandoned in digital shopping. But, why do website visitors abandon their carts? The most common reasons behind it are shipping charges, tax, and some other costs. Only your coupon discounts can persuade them to reach the checkout page and make a deal. Even if your shipping cost is just $2, it may turn off your customers.
So, inform your customers that your discounts will save money and help them avoid extra costs.
You can implement this coupon marketing tactic to increase the checkout rate and your sales.
Promote coupons with push notifications
Push notifications help you promote coupons efficiently. Customers can find coupons through in-app notifications of mobile apps. For instance, PushEngage is a reliable tool that lets you send push notifications within a few minutes. After creating the coupon code, you can send the push notifications.
The code can be delivered through different campaigns or push notifications such as
- Cross-selling campaigns
- Form abandonment notifications
- Inventory alert
- Campaigns on cart abandonment by integrating coupon
- Welcome campaigns only for new users
Offer Customized Coupons to Particular Segments
To personalize your marketing campaigns, you make offers depending on your customers’ problems, demographics, behavior, and psychographics. Similarly, for coupon marketing, you should identify different types of customers before giving them coupons.
Various categories of coupon codes can be offered to customer segments. For instance, in case of new users, you can send a coupon code- HELLO20% off on the first deal. On the other hand, LOYALTY40% is an example of a coupon for loyal customers.
Thus, customer segmentation is the most important step before marketing your campaigns. HubSpot and other CRMs help you with customer segmentation.
Offer Coupons and Get Feedback
Many businesses apply the strategy to exchange coupons with customer feedback. Your customers’ views are highly important for improving your business. On the contrary, your customers like to get coupons to have discounts. Thus, it will be easy to convince them to give feedback, use coupons, and place an order. Receiving a good reward for testimonials or feedback is an appealing idea.
Focus on the Coupon’s Overall Appearance
The design of your online coupon is significant for your marketing campaign. If your coupon looks attractive, customers will naturally like to redeem it. Boost your sales with the right design of coupon.
Your coupon ad design needs to grab attention. In the case of promo codes, there should be an expiration date. Besides, your message should be clear and comprehensible.
Promote Your Slow-Selling Products with Coupons
Your store may have some less-selling and no-selling items. It would be a loss if you are unable to sell your products. The best way to sell those items is to offer coupons. Attractive discounts will allow your customers to pay attention to these products. You might be able to increase the sales of the less-selling items.
Use Different Distribution Channels
One of the advantages of online coupons is that you can advertise them anytime and anywhere. Traditionally, coupon codes are shared via email. However, with the emergence of social media sites (such as Facebook and Instagram), you can promote digital coupons through these platforms. You can also allow customers to use coupons directly during the checkout. So, find the best platforms where you will be able to market your coupons.
Offer Coupons and Discounts During Signups
The signup is the most important step for customers who want to start their buying journeys. Let your potential customers view your coupons during the signup. Make your coupons visible on the homepage, landing page, and lead forms. Create a lead magnet on the website. The popup message with coupon-related information will appear when customers perform any actions. So, it will increase the chance of converting your visitors into customers.
Consider Limited-Time Coupon Deals for Marketing
Countdown popup is a good type of opt-in that lets you increase your customers’ fear of losing a good deal. With the right opt-in, you can start and grow the lead generation process.
Limited-time coupon offers work better compared to coupons that can be used anytime. Consumers will naturally get inclined to use the coupon and make a deal with you. This type of coupon marketing is also known as urgency marketing.
Run a Viral Contest and Promote your Coupons
Contests on social platforms help SMBs grow their businesses. It is easy to set up your campaign. So, you can also run a contest for your customers. When your potential customers learn about the contest, you may ask them to purchase your product/service from your website. WordPress website owners can use RafflePress as the giveaway builder. The winners will get your attractive coupons.
Create a Customer Loyalty Program
Retaining existing customers is more cost-effective than acquiring new ones. The main goal of your coupon marketing campaign is to have more loyal customers. That is why running a customer loyalty program is a good decision. If your offer loyalty rewards, you can easily hook customer’s attention. Make your coupon discounts available to your loyal customers and boost your sales.
Promote Single-Use Coupons and Promo Codes
Traditionally, coupon marketing was limited by the way you set it up. The easiest option for you is to produce a generic promotional code for all coupons. However, it can increase some risks. Although it helps you attract new customers, it limits the type of promotions you want to offer. Besides, the discount cannot be tailored if you use generic codes. So, you can use tools to avoid the misuse of your promo code.
Apply Gamification Technique
Playing games is always interesting to customers. If you have created a coupon marketing strategy, you can incorporate gamification. Mystery rewards can be the best gamification technique for any business. It means customers will not be able to know the discount percentage until they have taken the desired action. You can use the phrase ‘Mystery Prize’ in the subject line of emails. It will encourage them to open your email or click a link.
Engage With Customers and Influencers
A consumer can trust the recommendations of your existing customers. If you share your online coupons with your loyal customers, they will share those coupons with others. Similarly, influencers can help you send your message to your potential customers in the world.
Check Your Advertising Efforts
If you have started a coupon marketing campaign, you should track every progress. Determine whether any aspect of the campaign needs improvement. Tracking tools let you know your budgeted costs. You can calculate whether your results have given any profit. Besides, the tools help you find the number of products sold with your coupons.
Based on the result of constant monitoring, you can adjust your coupon marketing activities.
Coupons are, no doubt, an evergreen technique for boosting sales. With a proper implementation of the strategy, you will be able to reach your target sales. Design your coupons and distribute them to various platforms. You can attract a lot of new customers with online coupons and attractive discounts. You may not see the result overnight. However, coupon marketing will surely increase your revenue.