Regardless of the industry type that you are in, launching a coupon code campaign may be your stepping stone to global brand awareness. Shoppers generally like using coupon codes since they are assured of massive savings. As a business owner, the more they shop, the more sales you make. In the long run, this means improved revenues. However, you have to be creative with how you give out the coupon codes so as not to interfere significantly with your profit margins. Here are 5 ideas on how to run the campaign without hurting your business:
1:- Use Affiliates to Distribute Your Coupons
You should identify affiliates (individuals or companies) that you can partner with. The affiliates need to have a commanding following online or offline. If you choose individuals to be your partners, they should be influencers (celebrities or industrial leaders). You can also work with sites that offer coupon codes. They’ll help you to get traffic to your offer via paid ads and SEO. In turn, pay them on commission depending on the number of sales generated from the partnership.
2:- Invest in a Retargeting Campaign to Re-attract Your Previous Targets
Normally, it’s easier to re-engage a customer who had previously shown an interest in your business. Start by identifying those who never got the chance to submit their requests. Focus on customers who either abandoned their shopping carts or they left their order forms incompletely filled. Send them a coupon code in their emails to re-attract them. Since they had expressed interest, it’s likely that you’ll receive more conversions because of the coupons.
3:- Use the ‘Scarcity Tactic’ to Compel Customer to Make Purchases
For customers who are undecided about making a purchase, a coupon code can prompt them to make a decision. However, you have to make the offer compelling. The customer should know that he or she has to redeem the coupon soon before the offer expires. In this case, you should put a compelling CTA and an expiry date on the offer. The other tactic is to send seasonal coupon codes, more so this festive season.
4:- Leverage Social Media to Drive More Sales
Facebook is a great place to start. You should use coupon codes to increase customer engagement so that you can convert a majority of them into your loyal customers. Using coupon apps such as AgoraPulse and Woobox, create Facebook coupons that you can reward your loyal customers. The other target area is Twitter. You can use the platform to create flash coupons which appear like Twitter posts. Customers will jump on the offers the moment they notice them.
5:- Exploit Mobile Coupons to Target Smartphone Users
Considering that about 59% of the total e-commerce transactions are done via smartphones, it’s important to target such users. So, you should direct most of your coupon codes to the mobile users. Send them coupons that they can redeem using their mobile phones and those that they can share on social media. It’s all about creativity when it comes to running a successful coupon code campaign. Since the competition will always be there, you have to step up your coupon marketing strategies. You can start with the discussed marketing ideas and watch out for better conversions and sales.