How to Effectively Use Promo Codes to Boost your Sales
Whether you’re a seasoned marketer or a business owner looking to ramp up your sales, this guide has something for you. Read on to unlock the secrets of how to promote promo codes and propel your business to new heights.
Using promo codes has been proven effective in giving customers that little push needed to convert. 39% of shoppers who receive personalized coupons, promotions, or recommendations while shopping in-store spend more, and up to 31 billion eCoupons are predicted to be redeemed worldwide in 2019.
With the help of email marketing automation, incentivizing customers using promo codes can be more strategic and targeted since all the data and advanced features you need are at your disposal.
Use these tips to learn how to drive more sales with the combined power of promo codes and email marketing automation.
Target the right customers with personalized offers
Personalization and segmentation are basic marketing strategies that most marketers still fail to do. Using the personalization and segmentation features of your email marketing automation platform, you can ensure that the promo code you send will appeal to customers.
First, you can experiment with different email list segmentation using customer data such as demographics, location, and transaction history to group those with common denominators. From here, you can send them personalized promo codes designed based on what you know about them.
For example, you can send customers celebrating their birthdays with a promo code for a special offer to make them feel valued and remembered. Review your customers’ transaction history to send them a promo code for products related to their past purchases – a good opportunity for you to upsell and cross-sell.
Create urgency using expiration dates
Customers are afraid of missing out on a great deal. Using time, you can push customers to shortcut their decision-making process and act on impulse. Use powerful phrases such as “Today Only!” or “Expires Tomorrow” to create a sense of urgency. You can even put a countdown next to your promo code so that customers would see that their time is running out.
Send promo codes at the right time
Timing is everything! When you give promo codes, be sure that you are not only sending it to the right customers but also at the right moment.
During the slow season, use promo codes for discounts or freebies to make your products or services more attractive to customers. In the same way, send promo codes during holidays or peak seasons to motivate customers to pick you instead of competitors.
You can also create triggers in your email marketing automation platform to send promo codes while customers are highly engaged with your business. If you are running an eCommerce site, create a trigger for cart abandonment, which will automatically send a promo code for your customer’s abandoned items. It will give them enough push to complete the transaction.
Use promo codes to acquire new customers
Apart from retaining customers or encouraging repeat business, promo codes can also effectively acquire new customers and grow your email list. For instance, you can send existing customers promo codes, which they can only use if they refer a certain number of friends to sign up for your offers. Or, reward new contacts on your email list with instant discounts through promo codes to incentivize their first purchase.
How to Promote Promo Codes through Social Media
Promoting promo codes effectively requires a multi-channel approach, and social media platforms are crucial to this strategy. Social media allows businesses to reach a wider audience and engage with them directly. You can create posts or stories featuring your promo codes or even collaborate with influencers who can help amplify your reach. Remember to make your promo codes easy to share, encouraging your followers to spread the word. This strategy increases the visibility of your promo codes and fosters a sense of community among your customers.
Email Marketing Discount Code: A Powerful Retention Tool
While acquiring new customers is important, retaining existing ones is equally crucial for a sustainable business. Email marketing is an effective promo code marketing strategy, offering exclusive discount codes to your loyal customers. This incentivizes repeat purchases and makes your customers feel valued and appreciated. You can also use email marketing to re-engage customers who haven’t purchased. A well-timed email with a tempting discount code can reignite their interest in your products or services.
Promo Code Examples: Learning from Successful Strategies
To boost promotions with coupon codes, learning from successful promo code strategies implemented by other businesses is beneficial. For instance, some companies offer tiered discounts where the discount increases with the order value. This encourages customers to spend more to avail of a higher discount. Another example is offering a discount on the next purchase when a customer uses a promo code. This strategy not only incentivizes the current investment but also encourages repeat purchases. By studying these examples, you can gain insights into what might work best for your business.
Send the correct type of offer.
We already mentioned giving promo codes to the right customer at the right time, but we have yet to discuss the correct type of offer.
As a marketer, you should know that now all customers are attracted to discounts; some find more value in free shipping or items. When asked what would make them shop online more often, 9 out of 10 consumers said free shipping was the number one incentive.
Experiment with the different types of offers to find out which promotion appeals to your customer base more. The result should be enough to determine the best strategy to use next.
Flooding customers with discounts or freebies in the form of promo codes does not necessarily result in conversions or sales. Just like any other marketing tactics, you need to strategize your promo code. Using an email marketing automation platform with advanced features can help you send targeted, personalized promo codes to the right customers at the right time to retain and acquire new ones.
Read more:
13 Incredibly Surprising Email Personalization Statistics
