MoneyMagpie

Mar 15

Promo Code Best Practice

Offering discounts is a great way to get casual shoppers to take a second look at your offerings. However, it also holds the potential to lead them to expect a discount every time they shop with you. Yes, it’s good to get the additional business, but it’s bad to consistently have to get it at a reduced price. These promo codes best practices will help you draw the additional business you seek, while minimizing the potential for revenue losses.

 

1. Target Customers Carefully

Offer promo codes to reward loyal customers using personalized marketing techniques. You can also entice new ones while leaving your regular pricing in place for casual shoppers who wander onto your site unaware of the offer. Another smart play is to offer a discount to patrons who achieve a certain dollar value in a single order. Or, you can give them a coupon for free shipping if their order totals a certain amount. Promo codes are also a smart way to help sell down heavy stocks.

 

2. Mind Your Timing

Most retailers experience a lull right after the holidays. A surprise discount might entice your regular shoppers to come back and take a look around for something they wanted but didn’t get as a holiday gift. If certain items tend to only sell well during certain times of the year, offering a promo code during their off time will help generate sales in anticipation of the arrival of its season.

 

3. Apply Discounts Automatically

Configure your site to apply the promo code automatically when a customer clicks through from an email containing the code. Whether you’re considering how to sell an ebook online, offering electronics, or providing subscriptions for shaving products, you can extend the discount to customers you’re trying to retain without making casual shoppers aware of the existence of the reduced price offering.

 

4. Leverage FOMO

Fear of missing out (FOMO) is another powerful incentive for customers. They’re far more likely to make the decision to convert when they think they’ll lose an opportunity. An expiration date, or limiting an offer to a set number of buyers, will accomplish this. You can also include a countdown monitor next to the promo code’s window so shoppers can see how few opportunities are left to take advantage of the offer.

 

5. Wait, Don’t Go Yet…

Configure your store to keep track of a user’s time on the site and follow them around as they view products. When your platform senses that customer is about to abandon the site, have it trigger a popup offering them a small discount if they purchase the item they spent the most time pondering. Similarly, if a registered customer abandons a shopping cart, send them an email offering a discount on the items they left in the cart. This will bring them back before they buy someplace else if they departed looking for a better deal.

 

6. Build Your Mailing List

When first-time visitors arrive at your site, trigger a popup offering a 10 percent discount on their first order when they register with the site. You can then ask for their email information and subscribe them to your newsletter to keep them apprised of new offers. When people think they’re getting something they want, they are more likely to register for a site and share contact information.

When it comes to rewarding loyal customers or enticing new ones, these promo codes best practices will help you generate the attention you need. However, you must be careful to use them judiciously. You don’t want to get shoppers hooked on discounts to drive their buying decisions with you.

 

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