How to Effectively Use Promo Codes to Boost your Sales
Customers are always on the hunt for offers that will give them more for less. So, marketers like you persistently think of creative yet profitable ways to provide them more reasons to make a purchase.
Using promo codes has been proven effective in giving customers that little push needed to convert. In fact, 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.
Learn how to drive more sales with the combined power of promo codes and email marketing automation using these tips.
Target the right customers with personalized offers
Personalization and segmentation are basic marketing strategies which most marketers still fail to do. Using the personalization and segmentation features of your email marketing automation platform, you can make sure that the promo code you send would appeal to customers.
First, you can experiment with different email list segmentations using customer data such as demographics, location, and transaction history to group those with common denominators. From here, you can send them with 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 so you could 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. By using the concept of 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 season 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 be effective in acquiring new customers and growing your email list. For instance, you can send existing customers with 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.
Send the right type of offer
We already mentioned about giving out promo codes to the right customer and at the right time, we have yet to discuss the right type of offer.
As a marketer, you should know that now all customers are attracted to discounts, some find more value on free shipping or items. In fact, 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 offer 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 and at the right time to retain customers and acquire new ones.
Read more:
13 Incredibly Surprising Email Personalization Statistics
