Online shoppers have come to expect coupons, which makes it even more important for you to use them wisely. Watch today’s episode to learn how to make the most of your coupon campaigns.
In today’s price-conscious world, everyone loves coupons. And as online retailers continue to offer bigger discounts, shoppers have come to expect more online coupons, more often.
This expectation makes it particularly important for you to enter each promotion and discount with care – while you want to appeal to customers, you don’t want to lose money in the process. To help you stay on course with your coupon strategy, check out today’s video.
-Matt Winn, Volusion
Here’s the transcript if you’d like to read along:
Hey everybody. My name is Matt and I’m the Social Media Manager here at Volusion. Welcome to Two Minute Tuesdays. We give you two minutes of ecommerce advice to bolster your online success.
In the world of online shopping, coupons are a big deal. And who can blame your customers for wanting to save a few bucks? To help keep you on course, anytime that you’re launching a promotion, especially with a coupon, keep these five tips in mind to make your coupons as successful as possible.
The first step to making any coupon campaign successful is to create an offer that’s of value. For example, if you’re selling a $400 product and only giving 5% off, or even worse $5 off, that’s not going to cut it. So, go big or go home, as long as you can protect your margin.
Another important factor to the success of your coupon campaign is its timeliness. In other words, you want to make sure you’re getting the right offer out at the right time. For example, let’s say I just went and got my oil changed. Well, if Jiffy Lube sends me an oil change coupon two days later, I’m not going to remember it. But if I received the same offer three months down the road when I need another oil change, that’s a timely offer that I’m more likely to actually use.
Number three, promote your coupons across all of your communications channels. Remember, if people don’t know about your coupon code, they can’t redeem it. So send emails, post to social, and put a callout on your homepage and other pages of your website. Again, it’s all about getting that awareness out there, and that will lead to higher coupon redemption.
Number four on our list, I highly recommend offering a personalized coupon. For example, I recently received a coupon from a shoe store that was only for friends and family, and it was for 40% off. By feeling that exclusivity, I felt really special. Not only that, I made sure to tell all my friends about it, too.
Last but not least, and this is a great tip, always create a sense of urgency. If you have a week long coupon campaign, the day before it expires, send out an email or update on your homepage that says, “Last minute chance to redeem this coupon!” This will really set a fire under your customers that will help them actually purchase.
Hopefully these five takeaways will help make coupons more successful. If you have any questions, just leave me a comment in the box below and I’ll get right back to you.
From me to you, happy selling!