When purchasing products and services online, very few customers expect to pay the total price. With so many retailers now offering new customer discounts and digital coupons, there’s a good chance you’ll find a coupon code to use on your next online purchase.
Retailers frequently incorporate coupons and discounts into their marketing strategies to increase sales conversion rates and customer loyalty.
Savvy online shoppers know how to take advantage of deals and combine coupons with other offers and cash-back discounts to maximize savings. This could result in a less profitable sale for retailers.
However, marketers are increasing their distribution of digital coupons to meet the demands of consumers who shop online and via mobile devices. Many luxury brands, such as Dior and Cettire, offer coupon codes to their consumers at various stages of their buying journey.
How can you provide a digital coupon strategy via a review collection app while still meeting revenue and profit targets? Let us explore.
What exactly is discount code/coupon marketing strategy on Shopify?
Coupon/discount codes marketing uses coupon codes, vouchers, and discounts to attract and retain customers by capitalizing on their desire to save money on purchases.
Coupons/discount codes are a versatile marketing tool that can be used effectively throughout the customer journey. Coupons/discount codes can be public codes that a specific target group can use or personalized, one-of-a-kind coupon codes assigned to specific customers. They can be distributed in various ways, both online and offline. Coupons/discount codes can also be personalized or have specific redemption rules defining the desired conditions.
Why should you invest in discount code marketing on Shopify?
Coupons/discount codes have already evolved into sophisticated marketing tools that drive sales and aid in the development of brand image and customer loyalty.
Using a modern infrastructure, coupon campaigns can also serve as a source of tracking data for CRM, which can build and continuously improve your marketing efforts in general.
Let’s take a look at some statistics that demonstrate how common the use of coupons has become on Shopify:
- Coupons/discount codes are used by 95% of all consumers.
- In the second quarter of 2021, the redemption of discount coupons surpassed the redemption of paper coupons in the United States for the first time.
- Experts predict that the use of discount coupons will increase in 2022, reaching 145.3 million users by the end of the year.
- Discount coupon redemptions are expected to exceed $100 billion by 2022.
Coupons/discount codes can benefit almost any business type and size if a coupon marketing strategy is developed by the current budget and clear marketing objectives.
The Advantages of Using a Coupon/discount codes Marketing Strategy on Shopify
Here are some of the advantages of a well-planned coupon marketing strategy:
- Meet your sales targets more quickly than expected:
Coupons can be used to incentivize customers to take specific actions that aid in achieving sales and marketing goals. Coupons, for example, can help you break even on items that don’t sell well and up-sell your offering.
- Extend your customer base easily:
Coupons increase customer loyalty and increase the likelihood that they will refer your brand to friends and family more frequently. People react emotionally to brands that reach out to thank loyal customers with coupons, which undoubtedly aids in the formation of positive associations.
- Track your success rate smoothly:
Offering coupon codes makes it easy to measure your return on investment. When people redeem a coupon code online, you don’t have to ask how they found your business. You can monitor the number of redeemed coupons to determine the success of your offer.
Using Coupons to Increase the Number of Reviews that helps in boosting sales
Coupons encourage customers to write and share product reviews, as well as return to your store. This is an excellent way to increase traffic to your store.
You can provide a coupon as an incentive for writing or sharing a product review, or you can provide a coupon with added value for both writing and sharing written reviews. You can change the language in your Review Request messages to inform your customers about these coupon offers.
Customers who earn coupons receive them immediately via WhatsApp. They will be able to use the coupon at your establishment.
- Go to reviewbit dashboard and click on “Chat flow settings”.
- There you will find again a tab “Chat flow settings”
- Under that tab you will see a “Discount message section”
- You will land up on “Discount message” section
- There you can set “Discount type” -Fixed/Percentage
- Then give a “Discount value”
- As the next step create a “Discount Code” as you wish
- Then click “Create Coupon”
Coupons are an appealing way to increase volume and sales. Incorporating them into your marketing mix can help you quickly build your customer base and temporarily boost conversion rates. While there is no proper substitute for providing high-quality products at reasonable prices, coupons can help supplement those efforts when the competition heats up, or consumer expectations demand it.