Coupons increase customer acquisitions and loyalty while also increasing conversions. There are lots of ways you can go about offering coupons and discounts to your customers. Let’s look at some of the best options out there. Then, you can go with a single option or us a combination to get the best results.
Cart Abandonment Offers
The online shopping cart abandonment rate sits at close to 70 percent. You can reduce that rate significantly by offering coupons to people who abandon their carts. You have a couple of options for this. First, you can use a pop-up coupon that people see as soon as they back out of the cart. Second, you can send out an email to people who abandon their carts. The email should include a coupon. Birchbox provides a perfect example of the latter. The company sends emails that contains a 20 percent off discount to people who abandon their carts. That’s a great incentive to finish the checkout process. You will be surprised by the number of people who complete their purchases when they realize they can get it for less. Even something as simple as reduced shipping can help you increase your conversions.
Incentives for Engaging on Social Media
You want your social media pages to go viral, and offering coupons can help. Incentivize people to like, share, and comment on your content with a coupon pop-up. Once people complete the desired action, they receive the coupon. Most people are willing to click like or share something to get something for free. In fact, you can get people to complete both actions for a single coupon. That’s a great way to spread the word about your company on social media. You can boost your sales even more when you reach more people.
People tend to trust referrals from their friends. You can boost your sales if you give your customers an incentive to get their friends to make a purchase. Referral offers are an excellent way to accomplish this. Let people know about your offer upfront. Then, have a spot for the referring party’s email address on your online order form. If someone makes a purchase based on a referral, send a coupon to the referring party. Hopefully, the new customer will make a referral as well, and the chain will keep building.
Customer Loyalty Discounts
You can increase your customer loyalty statistics with customer loyalty offers. Track your customers’ purchases, and after they buy a certain amount, send them coupons. That way, they will come back and buy even more. This is an excellent option for high-end brands that don’t want to offer basic coupons. Brands don’t sacrifice their images by rewarding loyal customers. They can still offer high-end items without lowering the value through coupons.
Coupons can help you boost your conversions. Come up with a strategy that includes various coupon offers so you can reach as many people as possible. Make sure the strategy aligns with your brand’s values and images and then watch the conversions roll in.