In fact, they may even encourage their target audience to participate in a marketing campaign. If customers know there’s something for them that sacrifices their time to complete an online survey or share their social media content, they’re more likely to get participants. For example, if you link a promotional code to complete a survey, you can also use it as an opportunity to get contact Promo Code information and other customer data to help you generate leads. Therefore, promotional codes can actually add more value to your marketing campaigns as well. Rewarding customer loyalty can build an even stronger bond while offering discounts to customers who are already spending money with you. You can easily create exclusive discount codes for specific groups of customers with Shopify.
In other words, your customers need to spend a fixed amount to receive the percentage/amount discount or get the free shipping or gift. However, if you feel particularly generous, you may also decide to apply your promo code to any purchase, regardless of the total the customer owes. This type of code allows a customer to qualify for a bonus item with specific purchases.
Coupons can bring customers into your business, increase existing customer engagement, and generate new revenue. Physical coupons can be entered into your store, while digital coupons can be offered through marketing messages on a business website and promotions on social media. They can give your customers that extra reason why they might need to shop at your online store, which means you’re generating more revenue.
Discount codes sweeten the deal, but it’s up to your marketing and user experience to drive conversions. Promotions are usually a long-term tactic that doesn’t necessarily provide immediate ROI, but it can pay off well over time. Brands can use promotions to increase customer awareness, engagement, and loyalty, encourage repeat purchases, collect customer data, and create customer lists for future campaigns. While the discount may be a way to get people in, if not implemented strategically, it won’t do anything to promote long-term customer loyalty and value.
In addition, discount offers are linked to scarcity, whether it is a temporary offer or only a limited number of products at the lowest price. This creates a sense of urgency for potential customers who can only be satisfied by buying the product now. On Shopify, in the past 365 days, 17% of total sales were made through a discount codeDiscount codes also encourage customers to follow your store on Facebook and Instagram, which helps build brand awareness and loyalty. Consumers overwhelmingly trust that any discount offered by a company is a legitimate discount on the original price. In other words, you can technically increase the price of an item by 20%, then turn around and offer a 20% discount, but consumers rarely consider this possibility.
Also, include social media in your coupon marketing strategy, as 71% of customers follow brands to get coupons and 74% use social media to decide if they buy something. There are billions of users on popular social media channels like Instagram, Facebook, and Twitter, so your strategy should include sharing discounts regularly. This amount of exposure will make you stand out and attract many different types of customers.
It’s worth noting that most companies get most of their revenue from repeat customers. Automatic discounts apply to all eligible shopping carts, and customers will see them on the shopping cart page before starting the checkout process. It’s a great way to run a store-wide promotion on one product, category, or all of your products without your customers entering a discount code.
You can entice your visitors to join your email subscription or newsletter by placing an email sign-up form along with a discount offer as an incentive. When it comes to applying deals, coupons, discounts, and deals, you have unlimited options. But let’s explore some of the best practices in today’s ecommerce industry, along with the most creative ways and examples to use them to generate your online revenue and influence customer loyalty.
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