Coupon, the ultimate marketing gimmick has just got a new makeover with ecommerce and online sales.
Offers, coupons, promotions, rewards, deals, and discounts are not just marketing words anymore, those become marketing strategies to successfully run an ecommerce store.
“Couponing” can be the key weapon in driving customers to your store.
When it comes to the digital way of doing business, effective digital marketing strategies play a vital role. It is often considered a tedious task to identify the right time, designing promotional tactics, offering deals, and making most of the coupons & discounts.
According to Hawk Incentives research,
97% of consumers look for deals when they shop and 92% said they are always looking for the coupons & deals.
Due to this cut-throat competition in online commerce, ecommerce store owners are relying on such kind of marketing strategy to attract and retain customers.
Customer loyalty is a primary factor to increase sales and increase your brand reputation , it’s one of the major part of brand marketing. Coupons and daily-deals sites tend to have higher traffic than the ecommerce stores. Sites such as Groupon, retailmenot, and coupons.com are being immensely popular among users to save that “extra bucks” while shopping online.
Customers are always fascinated to apply coupons and deals on the items while purchasing online.
Everyone prefers to pay less.
As there are myriad of ways to use the discount and deals, here’s how you can leverage coupons to drive higher ROI.
In a nutshell, coupon refers to a code that you can use during checkout online. Basically, that code helps you to save money.
How Can You Implement Unique Ecommerce Promotion Strategy?
Have you ever thought how to automate coupon applying strategy?
Here is something you need to look at:
- Create browser extensions that can recommend various coupons
- Collaborate with daily-deals or coupon-based websites
- You can display various deals using landing page of your brand
- Use email marketing to display your coupon offerings
- Extensively use social media platforms to display your discount campaign
To effectively leverage coupons that can create leads, you need to work on design, placing, timings, and behavior of consumers.
Digital Coupon Strategy has got many pros compare to other marketing methods, such as:
- Easy to implement and track
- Increased customer loyalty
- Accelerated conversions
- Increased sales through promotional deals and offers
- Amplified brand awareness among users
It is true that couponing is one of the best ways to drive customer loyalty but, extensive use of offers and deals may harm your brand reputation and profitability.
Modernize Your Marketing Method: Are Coupons Effective Strategy for Today’s Online Store?
Not only for customer strategy, but also for customer loyalty, digital businesses have to offer some exciting deals to gain the attention of visitors.
“The number of adult digital coupon users in the United States is projected to grow to 145.3 million in 2021.”According to Statista
Before you begin offering deals and discounts, you need to analyze market niche, users’ behavior, Given Suggestion by digital marketing agency, profitable margins, and appropriate timings to hit your marketing goals.
What are the factors you should consider while designing any digital coupon strategy? Here’s the list:
Types of discount and deals:
Are you offering a discount, free shipping, value discount, free gift or loyalty points? There are several types of discounts you need to observe before you jump on the effective coupon strategy.
Have You Selected Right Coupon Partner?
There are hundreds of coupon partners and affiliate programs you can take into consideration. Before you tie up with any, research about them and ensure relevancy between those discount programs.
Analyze Your Customer Behavior:
Understand your customers’ interest.
In order to meet business goals through the offers and promotional methods, it is vital to understand your customers first. What are the products and services they’re more interest in? Is your customer looking for any discount? Are they significantly attracted towards coupons and deals?
Investing in customer relationship always helps in strengthening your loyal customer base, therefore, increasing ROI.
Track End-To-End Results:
You can’t publish promo codes and sit silently until it will be executed well. You need to track end-to-end promotional channel or affiliate programs to ensure smooth implementation. Monitor behavior clicks and branding of coupon sites to bring transparency to your deal campaign.
Set Appropriate Timings And Effectively Use Them:
You can offer deals and discounts at the end of the month, week, or a quarter.
You can also incorporate or launch new promotion methods considering holidays and festive seasons.
By offering relevant seasonal discounts, you can reap the benefits of customer engagement to amplify your sales channel.
Social Media and Email Marketing:
These two marketing channels are proven best when you’re displaying your ads and discounts.
In spring 2017, the number of internet users who used daily deals websites(Groupon, LivingSocial, etc.) reached to 54.37 million within a period of 30 days.
– Statista Report
The rise of digital coupons has contributed a lot to amplify online sales and played a major part in consumers’ digital shopping habits.
Summing It Up
No matter what products and services you’re offering, a best promotional strategy that includes effective coupons and deals can work as a magic for your brand awareness. To boost sales and grow your business, modernizing coupon strategy can help gain significant results.