Just because you have a coupon does not mean you will generate a sale. This type of marketing must be used properly to make it effective, and this is what we are going to talk about today.
Coupons and discounts are dime-a-dozen. All entrepreneurs use this to lure customers. The same goes with brick-and-mortar stores.
But what can you do to make it really work and improve your conversion rate?
Holiday Deals
People love to spend on holidays. The thing is, they also expect discounts during this season. If you do not give discounts, you will lose your customers to your competitors.
To make a holiday or a seasonal deal effective, your coupon or discount must always embody the season. If it is a Black Friday deal, then your coupon discount must say that it is a Black Friday discount.
Why?
If you use these keywords—like Black Friday, Christmas, Graduation Day—you are indirectly telling your customer that the deal is only available for a limited time. As such, you are creating a sense of urgency, and your customers are likely to make a purchase before the season ends.
It is also a matter of psychology. Customers who see these keywords feel that they really need to buy something because of the season, and you are indirectly appealing to them to make an emotional decision.
Abandoned Cart Offers
Today, e-commerce websites are all equipped with an abandoned cart feature. If a customer inputs his details to the purchase form, but decided not to buy, you have the customer’s email address.
There are many reasons why a customer may have abandoned his cart. It is likely he changed his mind, or his internet connection got cut off. Whatever it is, you have to make an assumption that the customer is not going to buy anymore.
As such, you need a bait to lure bring the customer back. And the best thing to use as a bait is a coupon or a discount. You have to give this customer a significant price change just so he comes back and continues the purchase, such as free shipping, or a 20% discount.
Offer for first-time shoppers
It is difficult to convert a first-time visitor. They are usually hesitant because they have not yet experienced buying from you.
To make them buy, you must have an offer that is difficult to resist. And if you use this approach, make sure that the customer knows that it is for first time buyers only.
This offer makes the site visitor so special and valued that you would increase the likelihood of this person to buy. In a brick-and-mortar business, entrepreneurs do this all the time.
The best offer for these customers are free shipping, a huge discount, not less than 30%, or a free item that would be shipped with their order.
Remember, the offer must be exclusive to first-time buyers only.
Customer Milestone
People like to achieve things and get rewarded for it. This psychology is something you can use to your advantage. In this approach, you can tell a customer that he would receive a discount if he meets a condition.
For example, if a customer buys $200 worth of products, you can offer free shipping. You can also offer free items if a returning customer has accumulated a certain amount in purchases, like a free smartphone case if he has already spent $100.
Summary
Discounts and coupons must be used sparingly, and they must be used to attract the right market. You cannot just plaster coupons all over your site, as it will lose its magic. Remember. Anything that is seen all the time will lose its value, so use discounts and coupons in moderation.
