An Entrepreneur knows the game of tempting deals for the consumers, they believe it is a fast and best marketing strategy for any new startup. The increasing online market of reviews, coupons, deals of the day websites are on top. Why it should not be? After all, we all want to save some bucks.
Before we jump to a conclusion how online coupons actually work, how they are created and their redemption, let’s get to the question what exactly these coupon deals are and how to make them effective?
Online deals could be anything ranging from an offer on a website’s homepage offering some percentage of discount, clickable banner, in-store coupons, online redeemable coupons, etc.
These deals are open for everyone, for sellers, merchants, consumers everyone. Then comes the decision whether an online merchant should offer discounts, how to use the coupon deals when to use then and how much the discounts should be worth of.
Coupon is a powerful weapon used haphazardly to endorse a brand or a product and its presentable counts a lot. In a quick discussion with the co-founder of Mr10.in, they clearly stated that “A startup must use the deals as a marketing strategy, in order to grab the attention of people. We used this strategy to gain the audience from social media to the site and offering a value deal in order to save their money.”
There are many techniques to use this coupon deal as your marketing strategy but you have to find out which one works best for your business.
Here, I can help you with some examples of visually presenting deals to attract more and more audiences.
Things to consider when launching a coupon deal
- Who do you plan to target with your deals?
- Type of offer:- percentage based, value-based, free gifts, free shipping, etc.
- How and when to use the offers?
Monthly or weekly coupon deals helps drive sales
This is more like traditional sales where you can easily drive traffic. People usually feel like picking the best at lowest possible rates. Time-based sales have its own effect and help you meet the revenue target easily.
Coupon deals for first-time shoppers
Come up with exciting coupon codes that are attractive and combine them with free shipping to make an extra discount to attract more buyers especially for the first time visitors.
End of season sales or holiday sales
These kinds of sales are something that people usually await. Fresh stock is always pretty expensive so people make it a point to shop at discount rate and stay prepared for the next season. Christmas, New years, holiday sales are another best way to stretch revenue and clear the stock at the same time.
Abandon cart coupon deals
Many people just like the product and are not sure whether to buy it or not. This is one powerful tactic to keep them reminded and also to keep them attracted to the site. This is one new functionality to send emails to the visitors offering them discounts while asking them to clear the carts.
Coupons deals for social sharing/ referrals
People usually trust sites if it is referred by a family or a friend. Coupon deals for referrals is a great idea, it brings exposure and you can offer the deal to the person who is referring and the one being referred.
One can give discounts to the visitor subscribed to your emails and newsletter. It is a great way to introduce people to your latest products and services.
Loyalty point coupon code
If you’re an e-commerce store or offer a login to your users then you can use the loyalty reward points in order to engage with your customers.
Exit intent coupon codes
An instant pop-up shows when a user tries to exit from the website. This works best for last minute offers.