Did you know that coupon users are spending 24% more than regular shoppers?
If you are looking for ways to increase conversion rates, boost ROI and improve customer engagement, start by implementing coupon campaigns to support your promotional marketing strategy.
The estimated number of global mobile coupon users will grow to 1.05 Billion by 2019 (Business2Community).
To help get you started with coupons, we want to share 8 great examples of coupon campaigns you can use right now. Let's get into it.
1. Welcome Coupon
Example: If a customer visits your website or signs up for your service, automatically send them a coupon via email to spend on their first purchase.
Tactics: Create brand loyalty from Day 1 by giving customers a memorable first experience and incentivizing their first purchase.
Why: 99% of people won’t buy on the first visit (Econsultancy).
2. Flash Sale
Example: Boost site traffic and sales with a flash sale over the weekend and offer customers free shipping for the next 72 hours.
Tactics: A flash sale is a great way to grab your users attention with a sense of urgency. Offering free shipping is a great way to incentivize purchase.
Why: 24% shoppers are ready to spend more to qualify for free shipping (VWO).
3. New Product Coupon
Example: Drive awareness of a new product or service with a special coupon code valid only for that item and only for a limited time.
Tactics: Target loyal customers with a personalized message announcing your latest product and reward them with a compelling discount. Remember to ask for reviews or ratings and include easy social sharing.
Why: 53% of shoppers who receive personalized coupons spend more (Business2Community).
4. Holiday Coupon
Example: Give customers a 10% discount if they enter the code HAPPY-HOLIDAYS-17 when they make a minimum purchase of 50€.
Tactics: Send customers a personalized holiday e-card as the coupon and use the opportunity to build brand awareness by thanking them for their loyalty.
Why: 68% of consumers believe that coupons build brand awareness, 68% also state coupons generate loyalty (Invesp).
5. VIP Coupon
Example: If loyalty program members collect 500 points, offer them a VIP coupon for 50€ to spend on their next purchase.
Tactics: Be sure you have the right software for tracking loyalty points and executing rewards to program members. Deliver a compelling incentive to make these loyal customers feel special appreciated.
Why: 73% of Millennials and 48% of Gen Z said they are influenced to purchase based on loyalty programs (Lab42).
6. Cart Abandoned
Example: If a customer abandons the checkout process then trigger a coupon with a 10% discount on one item in cart, valid only in next 24 hours.
Tactics: Send a coupon via email to remind customers to complete purchase or find out if something went wrong. Consider suggesting other relevant items to increase basket size.
7. Sorry Coupon
Example: If a customer reports an service issue or product problem, compensate them with a coupon to be used in your shop for their next purchase. Customize the amount based on the severity of their complaint.
Tactics: Enable your customer service agents to create coupons easily within your CRM system so they can process customer complaints efficiently and keep customers satisfied. It is much more valuable to retain customers than acquire new ones.
Why: 67% of customers mention bad experiences as a reason for churn (Huffington Post).
8. Review or Rating Coupon
Example: Ask customers for a review and/or rating on recently purchased items and offer a 10€ coupon for successful reviews on your site.
Tactics: Send a follow-up email to customers one week after their purchase asking them for a positive review. Outline the required steps so their is no confusion for the customer.
Why: 92% of consumers trust peer reviews over any other form of advertising (Nielson).
Now that you have some inspiration, here are a few things to keep in mind when implementing your coupon strategy:
- Use compelling incentives
- Personalize content and creative for your audience
- Choose best channels (website, email, SMS, social, flyer, etc.)
- Include social sharing component
- Add redemption limits expiry date
- Track and optimize with campaign analytics
To run a successful coupon campaign, you need the right coupon engine to support your campaign with secure code generation, validation and fraud prevention.
Monitor your campaigns closely with tracking and analytics to see how your campaigns are converting. A powerful API-based solution like Talon.One can help you create, manage and track these campaigns.
If you have questions leave a comment below or get in touch!
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