Data research firm, A.C. Nielsen, estimates that some 60% of all shoppers actively search for product coupons when making a purchase. Other key players in data research put this number as high as 90% of shoppers worldwide using coupons to help drive their purchasing decisions.
As an ecommerce retailer, you’re in the perfect position to make sure potential customers have no problem finding an irresistible deal on your products. To ensure they’re never tempted away from your site due to a more appealing offer from a competitor. Best, there are tons of great coupon sites, and most don’t cost a thing to use.
Here are 5 tips to drive home more sales using digital coupon marketing in your business:
1. Offer lots of high percentage discounts
Discounts have a huge impact on buying behaviors, online and offline. There are lots of stats to keep in mind when offering discounts to drive sales, such as using follow up emails to customers who’ve abandoned their shopping cart and offering them a deal they can’t refuse (learn more).
However, when talking about coupon marketing to drive more sales, all you need to know is that the more you can offer, the more sales you’ll get, provided your shipping fees aren’t outrageous! Over half of all online shoppers will wait until a product they want goes on sale before making a purchase.
It’s a proven fact that discounts in the 40 – 60% range are most appealing to consumers.
2. Offer coupons for free stuff
What kind of free stuff? How about “free samples”, “free trials”, “free in-house demonstrations”, “free consultations”, “free books”, “free info packets”, “free no obligation estimates”, “free advice”, etc. There’s no limit to the amount of freebies you can offer in your digital coupon marketing campaigns!
Best, freebies usually cost retailers less than discounts. From a marketing perspective, the chances are much higher that you’ll get more word-of-mouth love from those who take advantage of your offers, provided what you’re offering is worth their recommendation.
3. Split test by ditching coupon codes
You don’t always need to force customers to jump through hoops by using coupon codes. Yes, some love to copy/paste them and see the price drop while inside your shopping cart. However, most people just want the deal with minimal hassle.
Try split testing on popular digital coupon sites by offering direct links to discounted products on your ecommerce site. Just take a look at these epic Beachbody.com coupon deals with up to 66% off regular pricing!
This strategy offers two great benefits to the customer:
- A massive discount.
- A direct link that doesn’t require copy/pasting codes.
4. Use best branding practices in your coupon marketing campaigns
Coupons are a direct sales pitch for your business or brand. There are a ton of great apps and software that can help you make the most appealing coupon ever, but, if you’re handy with Microsoft products like Word, making an eye-catching coupon is really easy. You may decide it’s best to outsource this part, but the option is there.
In general, here are a few best practices you can use to make your coupons pop off the screen more:
- Always include company logo for branding and product recognition.
- Headline offer needs to be in bold.
- Always use the psychology of color to get customers in the right mindset to buy your product.
- Use lots of white space; clutter is not sales-friendly.
- Include an expiry date (1 month or less will drive more clicks).
- Engage window shoppers by offering to contact them (ie., list sign-up) with other coupon offers on your products.
5. Continually be on the lookout for your customer’s online hangouts
There are a lot of big coupon sites online. Most cater to already established brands with a reputation, rather than SMEs looking for increased reach and exposure. Finding where your ideal customers are hanging out, to maximize the effectiveness of your offer will always be the most labor-intensive part of coupon marketing.
Make no mistake, you’ll still have to do a lot of work once you post coupons on the various coupon sites, forums, and social hangouts you use. This Mashable tutorial from years back is still really relevant and a great primer for getting started in digital coupon marketing.
Don’t forget to put your offers up on classified sites like Craigslist and Kijiji – these types of sites allow you to niche down and go hyper-local with your offers, while also allowing you try some paid advertising to leverage the massive reach they offer.
Imagine the traffic and sales you can drive home by offering limited or extended deals to thrifty consumers searching online for great deals on products you offer?
Whether you’re offering free or discounted products, or other interesting digital coupon deals like a free consultation or information product; offering coupons and cross-promoting them through various online media channels offers limitless possibilities for increasing your company’s sales and brand awareness.
The sky’s the limit!
Leave a comment telling everyone your experiences with digital coupon marketing – good, bad, or indifferent.