How can you create the structures necessary to generate more engagement, conversions, and sales through coupon marketing? Whether you're marketing a new product, improving your sales numbers, or helping your customers do the same, here are the tips you need to learn about today.
The power of digital coupons
Today’s tips for driving more conversions focus on coupons kuwait phone number search in the digital space. While there are still many benefits of physical coupons, there’s no denying the universality of online shopping. More than ever, businesses are making sales in a digital space and customers expect to be able to connect here.
When you improve your digital coupon marketing , you improve your chances of conversions. Effective digital coupon marketing ensures that you meet modern customers where they shop – on apps, websites, and other digital spaces.
Data suggests that digital coupon redemptions will surpass $22 million in 2022; businesses don’t want to miss out on this. Finding ways to leverage the momentum and drive more conversions through coupon marketing shouldn’t be missed.
#1: Try different channels
Companies often find that a coupon they send via email has a much better usage rate than those posted on social media; the opportunities are endless knowing that there are 3.9 billion email users in 2019 and by 2023, this number will reach 4.3 billion!
Different channels have different audiences. Also, different types of people are more likely to look for a coupon in one place (like coupon websites ) than check it out somewhere else. To drive conversions, making sure your coupons appear in the right places is key.
Create ways to test different coupons on different channels and then compare the results in detail. You can use an app like Coupon X for this. The data collected will provide unique insight into each specific audience and what they respond to. That data can then be used to implement more effective conversion strategies as part of your coupon marketing plans.
#2: Just ask!
While this is unlikely to be the crux of any coupon marketing strategy, collecting data directly from customers is a great way to improve what's already working and identify what's not working more directly.
Offer a coupon code, such as 20% off, in exchange for taking a short survey that lasts no more than five minutes. Use this survey to collect data that will help you improve conversions. Ask questions that are relevant to the current marketing end goal:
"Why did you decide not to purchase [X item removed from cart]?"
“Were the prices what you expected?”
"Were you able to find a coupon?"
"Would you be more likely to buy more if you had a coupon code or would you just buy the same amount at a lower price?"
These questions should be tailored to gather the specific data needed to work on a specific strategy. Of course, gathering this data depends on having the right analytics tools, so make sure everything is set up as needed to help everything grow.
#3: Inform potential customers
Many brands make the mistake of not making their coupons visible enough because they don't want to lose potential profits, but this is a big mistake. Visible and easy-to-use coupons are known to increase profits because sales increase enough to make up for the amount "lost" by offering discounts.
Plus, it's much easier to convert potential customers with a clear and useful discount.
Pop-up optimization is one way to ensure that potential customers can be alerted to discounts quickly and clearly. With discounts that they have to physically remove, these shoppers should take a moment to pause and consider whether they are interested in saving. If they find the savings appealing, conversion rates are likely to improve.
Of course, pop-ups aren't the only way to ensure customers are aware of savings:
Build an email list for customers interested in future discounts and product launches.
Have popups or header text to alert customers when they are close to reaching a threshold for an additional discount (such as free shipping).
Get creative about how you target potential customers – where in the shopping funnel is it most important for them to be alerted about discounts? Identify this location and figure out how to implement effective coupon marketing there.
#4: Diversify coupon offers
Businesses are well aware that dollar discounts and percentage-off coupons are the most popular with customers, but significantly improving conversion rates requires addressing things on a broader scale. Where are potential customers in the funnel? Can a coupon be created to address that drop-off point?
There are many different types of coupons that can be generated and each of them has different objectives. Successfully converting leads into sales requires diversification to address this problem. Consider coupons for the following:
Plan weekly or monthly coupons to boost regular sales
Pre-release coupons
Exclusive coupons for social media followers.
Offers only for returning customers.
Submitting coupons to popular coupon sites
Subscription coupons on your website
Discounts only for those on an exclusive list, such as email marketing lists
Specific offers for holidays
Brand-specific offers, such as an anniversary coupon.
Referral program and associated coupons.
Each of these can be used in different ways to achieve different goals. A business that wants to convert more social media followers into buyers, for example, would do well to use a channel-specific coupon that can only be found on social media to entice some of those potential customers to convert.
Expanding the creativity you use to find new and interesting places to incorporate coupon marketing is sure to increase conversions and boost overall profits.
Getting started with so many different types of offers can be overwhelming, so don't feel pressured to do everything at once. Plan what type of coupons to test by first thinking about your end goal, and then piecing together what will help you achieve that goal. This strategy can prove incredibly useful in coupon marketing, especially when you haven't yet begun doing extensive market testing.