Do you want to build more brand awareness and attract new customers? What you need simply is a strong coupon marketing strategy 💪
As we just said, today we will talk about an old marketing method that is still very popular with the consumer audience; coupon marketing.
This method rose at the end of the 18th century and developed with time and still has great marketing power until this day. Today, with digital development, there is no longer a need to manually print your coupons. You can now rely on social media and many other low-cost digital tools to successfully promote your business with coupons.
Did you know?! 🔰
Statistics show that 92% of consumers use coupons, and nearly 67% of consumers make unplanned purchases based solely on finding a coupon.
Let’s cut the long story short. In this article, we’ll show you how to develop a successful coupon marketing strategy, coupon examples, mobile coupon marketing, and digital coupon marketing.
And we’ll do it using these points:
- What is coupon marketing?
- The benefits of using a coupon marketing strategy.
- How to make a successful coupon marketing strategy in 5 steps.
- The most popular types of discount coupons.
- 4 ways to get the most out of your discount vouchers.
What is Coupon Marketing? 🤔
Every customer likes some money savings on the side of every purchase he makes.
Coupons marketing is the marketing approach that knows about people’s constant inner urge to save money. And works on taking advantage of it by making people feel they are going to save a huge deal of money if they take this coupon right now and make a purchase with it.
This strategy reminds me of a recent article about FOMO or the fear of missing out, so check it out. 🍋
Many companies need to increase their sales using smart, indirect marketing methods.
But what’s one of the oldest marketing methods that are still hugely effective until this day?
Well, you didn’t guess it; we mentioned it in the introduction. 🤣
Even people who haven’t heard of your brand before will be very attracted to your site to find out what other offers and other deals you offer.
23% of consumers don’t complete checkouts without discount coupons.
The Benefits of Using a Coupon Marketing Strategy
There are many significant benefits to using an online coupon marketing strategy. We’ll show you the most important ones so that you are fully aware of the effectiveness of coupon marketing and how it works to serve the marketing goals of your company or brand.
1. More Potential Clients ➕📈
In the pre-technology era, individuals used to travel long distances in order to enjoy the benefits of coupons and get special offers and discounts.
But now with the significant development, it can’t get any easier than anyone can shop online and enjoy the advantages of their coupon with ease.
Therefore, this type of marketing will bring you a lot of new customers who haven’t contacted your brand before but will purchase only in order to enjoy those discounts.
And WHO KNOWS?
This might be just the beginning of a successful user-merchant relationship! 🚀
🏁 Interesting Fact 🏁
According to the Loyalty Scale Report 2019, 61% of customers stated that the most they got interested in a brand were by various offers, gifts, and discounts.
2. Retargeting Customers 📂
There is no better way to attract your former customers and build loyalty than by offering them special offers and discounts. You can use a set of coupons intended only for customers who have previously visited your site or purchased your products and services.
Expert Tip 🕵🏽♀️
Create personalized emails only for old customers and send discount coupons with sentimental words showing that your store is yearning for them again; This will greatly boost customer trust and brand loyalty.
3. Outperforming Competitors
Competition is ferocious these days, and it is difficult to be able to offer products and services that can only be found in your store.
Similar products are now found across many online stores, and the customer is now looking for the best price or the best deal in order to complete the purchase process.
So instead of offering discounts on all of your products, you can simply use coupons to attract more consumers and encourage them to prefer your products over other competitors.
4. Creating a Database
You can use coupons to get customer data (phone number, email address, website, etc.). And use that information to create a database of customers interested in coupons, deals, and discounts.
Important statistics 🗽
64% of consumers say the discounted prices motivate them to try a new brand. Followed by free shipping at 61%, and reviews at 57%.
How to Make a Successful Coupon Marketing Strategy in 5 Steps
After we learned about the concept and benefits of coupon marketing strategy, we now turn to the most important coupon marketing strategies that help you to effectively use coupon marketing in order to increase sales and attract more customers.
1- Focus on Mobile Phone Coupons
5% off first order through the popular PatPat store phone app for mother and baby clothes
The largest percentage of customers at the present time are shopping for deals and comparing prices using their mobile phones.
So you should take advantage of this behavior and work on targeting them using mobile coupon marketing.
✴️ 67% of US shoppers stated that they would prefer to buy from a store that offers discount coupons while browsing on their mobile phones more than another store offering the same services without coupons.
The Takeout = Include coupons in your mobile app experience to drive sales volume and increase in-app engagement. Offer exclusive coupons to your store’s app users, and make sure that the app has a built-in scanning tool so consumers can smoothly browse and discover in-store offers.
2- Make Promotion Coupons Within a Timeframe
Make a discount that customers can only get within a specified period.
For Example 💡
Setting the coupon to be available within only a few hours or a specified number of days. This strategy greatly encourages customers to make a quick purchase decisions. ➕ Several recent studies show that up to 50% of millennials prefer this type of offer and find it very attractive.
Expert Hack! 👩🏼🎓
Do a little research to see what types of offers are available on eCommerce sites and other retailers, then find a way to compete and outperform them.
For example, if they offer customers a 10% discount on their first purchase, you can increase the offer to 15%, or make the same discount, but add free shipping.
3- Don’t Neglect Seasons and Holidays
Purchase seasons and official holidays will be great times to flood your audience with special discount coupons.
Of course, there are some dates where the sales rate is much higher, such as holidays, the beginning of the year, and others.Display your coupons at these times in all possible ways, either through e-mail or on your home page, and you must make sure that the content with which you address your audience is attractive and personalized. Click To Tweet
4- Create “buy One Get One Free” Coupons
There is no doubt that you should take care of all of your products equally, but you’ll often encounter some situations in which certain products don’t get sold, just like the others.
So you will be stuck with some goods that take up space. The best solution for that is to combine them with your best-selling products in an exclusive offer.
Offering your poorly sold products within vouchers or packages with the best-sold ones makes you the hero.
You’ll produce higher selling margins and more attractive offers ➕ at the same time you’ll cleverly get rid of unwanted inventory. 🤟🏼
5- Use Different Channels
One of the best channels for sending coupons is email. According to statistics, there is a 48% increase in profits for businesses that use email to send coupons or discount coupons.
However, since emails may not be effective for a certain segment of consumers who don’t follow up on their emails constantly, other methods, such as mobile text, can be used.
🔹 53% of customers stated they prefer to receive their discount vouchers through phone messages. 🔹
Interesting statistic 💡
It is expected that up to 72% of e-commerce will take place on mobile phones and tablets by 2021.
The Most Popular Types of Discount Coupons
1. Financial Discount Coupons
Whether in a specific percentage or a sum of money. This is the most popular type of department coupon.
I get a specific product for 10% off or $20 off for a certain number of purchases and so on.
2. Seasonal Coupons
There is a type of discount coupon that is related to certain periods of the year such as Eid, White Friday, New Year, and others. Specific discount vouchers will be sent for these periods only.
3. Abandoned Carts Coupons
Some coupons or discount vouchers can be sent to customers in order to encourage them to return to their products in the abandoned baskets by offering a specific discount on their favorite products that are in the baskets and the purchase process for them has not been completed.
4. Free Shipping Coupons
One of the best types of attraction that customers prefer is undoubtedly free shipping, as about 44% of shopping carts are abandoned due to shipping fees, so it is no wonder that free shipping vouchers or coupons that allow customers free shipping are one of the most important and most popular types of coupons.
5. Total Coupons
Instead of applying discount coupons to any order, they can be restricted to a specific order value or a certain number of products, for example:
Get 15% off any orders over $100; Or buy 5 products for a certain discount on the ultimate price.
6. Referral Coupons
Zaful clothing online store app offers a discount code for referring a friend
There is a type of a discount coupon that has spread widely recently and has become very popular, which is to obtain a coupon with a specific discount in exchange for sharing the link of the online store or its application with friends or inviting a friend to register on the mobile application.
5 Ways to Get The Most Out of Your Discount Vouchers
Often, offering different payment options or a specific discount alone is not sufficient enough to attract customers and make that discount successful. In order to achieve such a required success, you must ensure applying one of this golden triangle’s 3 strategies; promo code marketing strategy, voucher marketing strategy, or coupon promotion strategy.
A voucher marketing strategy is a low-cost, high-impact method of acquiring new customers while also consolidating current business-client connections. Vouchers, especially in this digital era, are a quick and easy way to have the perfect present on hand for any occasion.
A coupon promotion strategy is a unique method of promotion. Coupons are made to resemble the experience of clipping a coupon from a newspaper or something similar and redeeming it at a retailer. Depending on how the campaign is established, a coupon might be applied to certain catalog entries or the entire transaction.
And finally, a promo code marketing strategy is named after promotional codes, which are alphabetic sequences that online companies used to entice customers to make purchases on their sites. They’re usually part of a larger promotional marketing campaign. A promo code can be used to get a discount on certain items or your entire order.
Whatever coupon marketing strategy you’re enthusiastic to use, these 5 ways will get the nail on the head! Let’s get into their details!
1- Make the Offer Truly Valuable
Your discount coupon or offer may be completely ignored if it is inconsequential or does not offer real value, for example, a $5 discount on a $600 product!
2- Choose the Right Time
Many online stores make the mistake of sending offers all the time without considering the right times.
Choosing the right time for customers will increase your chances of increasing conversions and encouraging the completion of purchases.
If someone buys a product from your store, after a few weeks they can offer them a discount coupon on a product that complements the product they have already purchased.
Likewise, times when turnout is high, such as holidays and various occasions, should not be overlooked.
3- Good Promotion
You can post the coupons on your site or send them via e-mail, but in this case, you will depend on someone visiting your site to notice these offers or your current customers will benefit from them.
So, in order to reach more potential customers, you should well promote your discount vouchers on various social media platforms.
You can reach out to and contract bloggers and influencers in your niche to promote your vouchers.
4- Brief and Simple Content
The content of the discount coupon should preferably be short, with a maximum of 6 characters. Likewise, similar letters or words that are confusing in meaning to the customer should be avoided.
5- Using Custom Landing Pages
Create a custom landing page to use when advertising a coupon. This will create a much better user experience for your customers, as well as allow you to better target your message as well as easily measure campaign performance.
How to Use Coupons in Your ExpandCart Store
You can use coupons and discount vouchers easily through ExpandCart stores without the need to spend more money or any technical experience.
Do it simply as follows:
- Go from Dashboard to Marketing, then Discount Coupons.
- Click on the Create Coupon Coupon icon.
- After pressing this button, a set of data will appear for you to be added, including:
The Code: The coupon code that will be entered upon completion of the product order on your storefront by your customers requesting a discount, for example, 10OFF.
Type: (whether it is a percentage or a fixed amount) If a percentage is chosen, the percentage that will be reduced from the total basket is placed in the discount box, but if a fixed amount is chosen, the value that will be deducted from the total is placed when using the coupon.
Discount: The amount that will be deducted from the total amount of the product price, whether it is a percentage or a fixed amount.
Customer login: to determine whether the customer must log in to the site to be able to use the coupon, or if the visitor who is not logged in can use it.
Free Shipping: Determine if the coupon applies to the free shipping method or not.
As we explained in the previous lines, although coupons and discount vouchers are an old method, they still retain their special place with the consumer audience through many types and tremendous benefits.
You should make sure to include a coupon marketing strategy in your marketing plan going forward and take advantage of the previous steps to achieve the best resonance with your audience.
Share your opinion in the comments and let us know the best coupon marketing ideas or best coupon strategy that generated great engagement from your audience!