How Can I Develop a Coupon Strategy that Works?
1. Identify the weakness of your store
Consider one of the following area.
- Traffic: Is your traffic low?
- Conversion: Is your conversion rate low?
- Loyalty: Do your customers return regularly?
Identify the weakness of your store that need improvement most.
2. Think the action you want users to take
Driving traffic to your store using coupons
Offer coupons when you perform any of the following marketing activities. With the same budget or effort, you can get more visits as people are always looking for deals.
- Social media posting
- Direct mail
Optimizing conversions using coupons
When visitors have arrived on your online store, encourage them to act as you expect by offering deals. For example,
- Encourage visitors to add certain products to cart by offering product specific coupons.
- Encourage visitors to buy more by offering cart amount based coupons.
- Reduce cart abandonment by offering a coupon on the cart page.
- Generate sales leads by offering a coupon when visitors leave without buying.
Improving customer loyalty using coupons
Try a loyalty or rewards program. However do not give a percentage discount to anyone who joins the program. Only giving special perks reward to your best and most loyal customers would work best.
You can of course apply coupons to drive traffic, optimize conversion, and boost loyalty at the same time. However we recommend you start from a single area. You can then expand to other areas when you have seen the satisfying results.