Using promo codes is a great way to promote your e-commerce business, attracting new customers and enticing existing ones to return. Since the dawn of online marketing, promo codes have proved themselves as a powerful strategy for just about every business of any size. Nonetheless, promo codes popularity with marketing managers comes from the effective history of coupon campaigns, from before the digital age, going back to the 1800s. Moreover, online shopping has changed the way many people shop and buy. It is more than just using a computer or mobile device to buy. Consumers are actively seeking out the best deals, the lowest prices, cheapest shipping, the best return policies, and promo codes. Further, people are sharing these deals and …show more content…
Additionally, U.S. users have been shown to spend 2.96 billion smartphone minutes monthly on coupon websites, such as Groupon.com and Coupons.com, and more than 1.28 billion desktop minutes. Consumers love hunting for the best deal. In fact, 57 percent of consumers state they would not have made a purchase if it were not for an offered coupon. Ultimately, coupons are no longer relegated to the Sunday edition newspapers or snail-mail flyers. Your customers are hunting for coupons and the best deals every time they buy. They are comparing your offer with the offers made by your competitors. Moreover, savvy e-commerce businesses are using coupon codes to track customers and personalize their offers. Regardless, while promotion codes may seem straightforward, the wrong strategy can actually harm your online business. Today, we are sharing some of the most effective tips. Tips for Using Promo …show more content…
Target Abandoned Carts - Business Insider reports that roughly $4 trillion worth of merchandise is abandoned in online shopping carts. However, savvy online e-commerce business can potentially recover about 63percent of those sales. You can recover these losses by using shopping cart abandonment emails with targeted promo codes. 3. Reward You Social Media Followers - Use Facebook, Twitter, Instagram on your other social media networks to make special offers to fans and followers. You can treat your social media followers as a customer database who have opted to receive your marketing messages. However, these individuals are also the most likely to share your promotional codes and expand your reach. 4. Use Promo Codes in Competitive Markets - Promotional codes ate not always the best strategy, especially if you have a unique item only distributed through your website. In this instance, it is likely better to identify the ideal price point. However, in a competitive marketplace, offering an additional 10% Off or Free Shipping could make a big difference. 5. Always Use Codes to Upsell - Promo codes must make sense to your bottom line. Therefore, use your promotions to increase the individual average sale, and help cover the costs of any discount or bonus offer. Therefore, link promo codes to a minimum order, buying a related item, or the purchase of more than