For any merchant, especially online merchants, offering codes and discounts must be done very strategically to make the best use of it. Ideally, discounts and promo codes drive sales, revenue and profit for any business with more conversion and customer acquisitions. Offering discounts and offers is the most popular method to drive sales, and you will not find any store online that does not provide these discounts and codes. They may either offer it directly in their website or through different other dedicated coupon websites.
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Ways to use the concept
Ideally, there are more than hundred and one ways to use the idea of sales, deals, offers, and discounts more beneficially and productively. You can consider daily discounts such as Freecharge coupons code today or weekly or monthly discounts, make prelaunch offers or holiday and seasonal deals.
Add to that you can make offers such as abandoned cart, email and newsletter subscription, incentives for liking and following on social media, referral promos, first-time shopper, minimum purchase, exclusive social, customer loyalty, exit intent, retargeted promotions, influencer, customer loyalty program member incentives, purchasing online or in-person, event attendance and even customer milestone offers and discounts’.
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Time-bound and prelaunch offers
When you make time-bound offers such as daily, monthly or weekly discounts, you are going the more traditional way. This is popular no doubt and very effective in driving conversions and customer loyalty. Many a time, these time-bound discounts generate more sales and revenue in turn at the end of a month or a quarter and help the business to meet its goals. All time-bound deals spur customer loyalty. On the other hand, prelaunch offers are made when you launch your business on the whole or add a new product to it. This will drive more traffic, peak interest and turn new customers into loyal ones.
Seasonal and abandon cart offers
You can also make seasonal offers such as during holidays and festive seasons. These are big discounts and businesses make the best use of it to commemorative the holidays that makes both customers and the merchants happy. Abandoned cart offers are a powerful and useful tactic to bring customers back to your business. This type of offer incentivizes and reminds the first-time visitors to return and complete their purchase.
Apart from online shopping coupon code, you may also offer through email and newsletter for an increased chance of conversion. You can build a relation, foster customer acquisition, and loyalty, and market your product to your customer in the future. A pop-up model coupon is the best in this matter.
Offer several incentives
Time to time offering incentives to customers will pay rich dividends for your business. You may offer an incentive for sharing and following your business on social media and spreading the word out. Sometimes, referral promos are much more likely to increase purchase. When someone refers a friend or family member, make the best use of this opportunity to your advantage and leverage your sales and more referrals. You can offer both the referrer as well as the person referred for best results. Also, offer discounts to all first-time visitors so that you change them into a paying customer.
Make exclusive offers
One offer that is creating a buzz in the online shopping arena is the minimum purchase discount. This is an offer made on the total value of an order and is a very effective tactic to upsell by encouraging the customers to spend more by increasing their average order size. There are other exclusive offers that you can make such as the Paytm recharge cashback offer today, free shipping offer and others on your social networks and channels. Make exclusive discount codes for the loyal customers that buy from you for a specific amount every month to retain them easily.
A few other offers
To increase customer loyalty, there are a few other offers that you can make as well. Exit intent offers made at the last second will turn a visitor into a customer. Retargeted promotions are made exclusively to the visitors who have been on your site before and will serve as a reminder to come back. Therefore, there are several offers to make, and it just depends on your strategy as to which one to choose.