Exploring Different Types of Voucher Codes and How To Market Them Effectively
There is hardly anyone who might not be aware of the trend and benefits of using voucher codes. Whichever activity you are indulging in- shopping, travelling, eating or even rejuvenating, voucher codes are the apt medium that help you attain great discounts on the bill. They are one of the most effective ways for both, the seller and buyer, to achieve their goals in saving money and obtaining their targets.
Here is a brief insight into different kinds of voucher codes and how you can market them to attain optimum results.
Three widespread categories of voucher codes:
- 10% discount on your order: The discount amount that you are offering generally depends on the regular margin for your business and this includes all kinds of shipping costs as well. The fact is that you will receive a greater response according to the discount your offer. Your buyers might not get lured by a mere 5% discount, but may get compelled to purchase the product or service if you offer a 10% off.
- £10 discount on the order: The discount of a fiver can work as perfectly as a percentage discount. If the average value of the order received is around £100, then the overall discount will equate to 10% off the total order bill.
- FREE shipping: Majority of the customers try looking for a deal where they get free delivery. In case you do not offer this on orders over a particular threshold, a voucher code offering free delivery bonus might do wonders. This tool will again do really well if you majority of your competitors are not offering this voucher. Customers will keep returning to your site in order to avail free delivery and save good money.
Offer any or all of these vouchers in a fixed pattern and see how well they boost your brand name, number of customers, and profits.
How to market voucher codes smartly:
If you are looking for a guide to market and promote your discount codes in the most beneficial say, this is all that you need to know. Find some of the most effective ways for the same mentioned below-
- Minimize acquisition costs: Remember that you might carry a big risk if you end up paying a lot of money for advertising your voucher codes. Social media websites including Twitter and Facebook, along with email, are great channels through which one can promote their voucher codes. This is a cheap option and also convenient to track. Using these mediums, your promotion stunt will soon go viral all over the internet.
- Monitor the codes via Google Analytics: If a seller has added voucher code functionality to heir e-commerce business, they must have one or the other kind of system to monitor the usage. However, one of the best ways to do this is by using Google Analytics. Whenever a code is used, the GA tracking can be added to the platform, thus helping you record the performance.
- Offer them to needy customers: As these discount codes are very helpful in increasing sales, one can use them to influence customer behaviour. Study your customers and offer them the codes when they are most likely to purchase your products and services. Ensure to offer a highly attractive voucher code to help retain these customers for a long time.
- Continue monitoring profitability: It is important for the seller to think carefully about the value of the codes they offer, the amount of times they offer, the people they provide them to and the products and services you allow them to avail against the codes. If all of it goes wrong, you would end up having an unsuccessful campaign. This is why you should keep an alert eye on the usage and observe your data in Google Analytics and respond accordingly.
- Do everything to bring down cart and checkout abandonment: There are very high chances of checkout abandonment when buyers see the presence of a voucher code field in a shopping cart of checkout page. That is because the visitors rush off to find out a voucher code online for discounts. To prevent this, making the option less obvious or hiding it inside a link can be a helpful idea. Someone who already has a voucher code can spend a few seconds looking for the option to spend it. However, when someone doesn’t have and see the field available, they will most likely abandon the cart or checkout page to search voucher codes on different sites.
- Great way to boost newsletter registrations: One can experience a great rise in the newsletter registrations if they suggest the customer to register for the same if they want to use the voucher code.
Following such steps will certainly trend your business name and help you receive great profits in return.