Strategic Ways To Use and Market Discount Codes

Strategic Ways To Use and Market Discount Codes

A business and its marketing make more of an impression when you offer a consumer something of value. Discount codes and promotional offers can provide a great incentive but you should go beyond just emailing a code to your customer base and waiting for them to use it. We’ve put together a few creative ways for business owners to utilise discount codes.

Cart Abandonment

Abandoned cart emails and re-targeting can be a great way to increase conversion and build your customer retention. Many shoppers who abandon a purchase do so because they’re not satisfied with the price at checkout.

Strategic Ways To Use and Market Discount Codes

If you can offer something like a discount to complete their purchase or free shipping on their order, it beats losing their business and pushing them towards your competitors.

Track Referrals

If your business attends trade shows or events frequently, you’ll want some insight into which events are bringing you business. Generate a discount code and distribute it at an event. As new shoppers redeem your code, you’ll be able to see which event or show generated strong leads for you and in turn be able to measure the return on your investment.

Strategic Ways To Use and Market Discount Codes

Reach New Customers

To attract new business, you will need to spend money on marketing. A discount code is a strong way to lower the purchase barrier for potential customers.

Customer acquisition can represent a substantial cost for a new business, therefore offering an introductory code for potential customers to use is an inexpensive, effective and easy way to reduce the amount of time and money you spend marketing your business.

Reward Customer Loyalty

As much as it’s great to attract new customers, don’t forget about your loyal and existing audience. Generate goodwill by rewarding your most frequent purchasers with a little something now and then. This type of generosity can come back to you in the form of a positive review or referral while prolonging the relationship with the customers who made your business what it is today.

Strategic Ways To Use and Market Discount Codes

Turn Negatives into Positives

There is no perfect business model out there. There are good ones, there might even be great ones, but no business regardless of its shape and size can say they do everything perfectly. The ideal scenario is to have a business that retains its customers and appeals to new audiences at the same time, but the reality is that you can’t always please everyone no matter how good you are at your job.

If you drop the ball and somehow upset a customer, there’s nothing wrong with admitting fault and providing them with their own unique code or offer to use against their next purchase. To a customer, being provided with value from a business is the main reason they attempt to buy from you in the first place.

If you’re looking to increase your conversions or improve your customer retention, why not get in contact with us today to see how one of our strategy sessions can help align your business and solve your customer’s problems.