Table of Contents
- Ecommerce Coupons and Discounts: Best Practices
- Common Types of Discount Promotions to Run On Your Shopify Store
- Benefits of using discount promotions
- Some Ways to Optimize your Ecommerce Promotional Strategies
Coupons and discounts are now seen as a significant tool for driving sales as these are consistently used by retailers. As a retailer, coupons incentivize shoppers to purchase, create brand loyalty, and enable you to easily diversify your promotional marketing.
To boost traffic and sales in your store, you can run promotions such as seasonal sales and flash sales.
- 97% of shoppers (ecommerce and otherwise) look for deals as they shop, with 92% saying they are on a constant lookout for promotional offers. (Hawk Incentives)
- 5.3 billion QR Code coupons to be redeemed by 2022. (Woorise)
- 61% of customers say that the most important way a brand can interact with them is by surprising them with offers for being their customers. (Merkle)
- 67% of shoppers report making impulse purchases after being presented with a discount. (RetailMeNot)
Ecommerce Coupons and Discounts: Best Practices
1. Have clear and specific objectives in mind
You need to have a clear idea, what you hope to accomplish while planning a promotional offer.
For a promotional campaign, developing clear goals will enable you to narrow down who you plan to target, and how you plan to engage them.
You’ll ensure that both your company and your consumers benefit from the engagement by setting a clear objective for your promotional campaigns and offers.
2. Send different discounts and coupons to different customer segments
By using tools like Canva’s Coupon Maker, you can create deals, discounts, or just a free piece of information. It can support you to create eye-catching coupons that represent your brand well and tailor fit them to the needs of your consumers with just a few clicks.
3. Communicate your offer clearly
No matter how attractive your promotional offers are, your consumers won’t be able to engage with them if they don’t know they exist. Also, your consumers won’t be likely to engage with your offers if they aren’t accessible. You need to make sure you’ve communicated your promotions on the right channels and platforms for the audience you’re aiming to engage.
Three key areas your promotions should be visible include:
- Your ecommerce website
- Your social media profiles
- Your email content
Common Types of Discount Promotions to Run On Your Shopify Store
Here are some common types of discount promotions to run on your Shopify Store:
1. Percentage-Based Discount
A percentage-based discount is the most popular way to offer a discount. Online retailers use larger discounts (15–25% off) and small discounts (5–10% off) as incentives to purchase. It’s also common to see brands discount 50% or more to clear out old and excess inventory.
2. Dollar Amount Discount
You can discount by a specific dollar amount rather than offering a percentage discount. This provides you with a fixed discount amount giving you more control of your product margins. These offers can also be positioned as a credit which can result in better promotion redemption rates.
3. Free Shipping
One of the far biggest sales drivers throughout the year is free shipping. Free shipping is an offer that can significantly improve sales conversions. 73% of online shoppers stated that free shipping is the number one criterion for making a purchase.
4. Gift with Purchase
A great way to add value to the shopping experience while also driving sales is to offer a gift with purchase. A small item is a quality incentive and shoppers must fully checkout to receive their gift.
Benefits of using discount promotions
1. Promotions increase sales
Ecommerce promotions capitalize on online consumer behavior which makes it easier for you to sell to shoppers despite how much competition is out there.
A common myth with sales promotions is that you have to offer crazy discounts or incentives to drive sales conversions. Look for best san diego web developers on PROS Inc website.
2. Promotions create a better sales strategy
You can convert more sales and add value to keep shoppers coming back by running promotions around key dates and holidays. It’s also essential to consider that you will face less competition promotion-wise on these key dates that aren’t during the big holiday season.
3. Promotions are an effective way to engage people
Always try to engage each shopper with something that could be of value to them. Using a pop-up promotion to provide something of value to your visitors (discount, free shipping, gift wrapping) will increase their shopping experience.
Some Ways to Optimize your Ecommerce Promotional Strategies
1. Set Micro Conversion Targets
The first step towards understanding your business is by looking at your sales and macro conversion rates. Micro conversions include small steps like visiting your website, looking up a coupon code, and adding items to the cart.
Tracking these micro-conversions can enable you to see where consumers are falling out of the sales funnel. You can also break them apart by channel and campaign to better understand the usefulness of each tactic.
2. Boost Your Website Speed and Performance
Your ecommerce promotional strategies are only as effective as your website. For marketers, it’s not unusual to create highly-optimized campaigns that perform poorly because of the website they drive traffic to.
Remember, it takes 0.05 seconds for users to form an opinion on your website and determine whether they want to stay or bounce. Plus, 88% of consumers are unlikely to return to a website that provided a bad experience.
3. Create Landing Pages for a Better Site Experience
To boost your ecommerce promotional strategies, landing pages should be at the top of your list. You need to take steps to grow your web footprint if you’re using a few catch-all landing pages for all of your content.
Business organizations see an average 50% increase in leads when they increase the number of landing pages from 10 to 15. Drip marketing is another effective way to push leads through the funnel.
More landing pages mean you can micro-target consumers and create more efficient campaigns, so you will spend less and convert more consumers.
4. Identify New Ecommerce Promotional Strategies You Want to Explore
Successful marketers are always learning and trying new things from customer engagement activities to personalization. Always keep learning and exploring new things whether you pick up new ideas at a conference or by following the latest updates through top publications.
