Providing coupon or promo codes for your online products is a great way to attract new customers and reward existing buyers for their loyalty. Let's face it, people love savings. You love them; I love them; we all love to shave a few bucks off that final sale price.
I am sure that you are familiar with promo codes, but let's take a second to touch on the basic premise, just for those others who are still scratching their heads over the matter. Online promo codes function similarly to real world coupons. At the time of purchase, a buyer enters the code into a special input box on your website or in your shopping cart. The buyer then receive the relevant discount that was promised in your offer. You as the site owner, secure a sale and gain a happy customer.
In recent years, coupon clipping has been trending, giving rise to a phenomenon called extreme couponing. Sites like Groupon.com have sprung up and grown into mighty giants, rooted in the heart of this coupon mania. As an online merchant, one can imagine that tapping into even a little bit of this coupon craze would indeed increase conversion rates and overall profits. Promo codes are a great vehicle for driving new traffic to your site. When placed in newsletters or distributed to your list in some manner, they offer a convenient means to reward loyal customers with great savings, whilst increasing revenue.
Below are a few tips on using promo codes as part of your marketing strategy to promote your online business or store.
Treat the customers on your list like VIPs
Loyal returning customers are worth their weight in gold. Not only are they repeat buyers, but they actively promote your business by word of mouth. Why not reward them with a special offer that is only available to them. Send out promo codes in your newsletters or any other method where you directly contact members of your customer list.
Return purchase promo code
Generate repeat buyers by offering promo codes in your “Thank you for purchasing” email. You know, the email that is sent to the buyer after their purchase is complete. Simply add a promo code to this email. Say something like, “We appreciate you shopping with us. As a special thank you, next time you come back, save $5 off your purchase of insert_product_name_here! Use this promo code to redeem your savings: SAVE5ONPRODUCT”
Track ROI for specific advertisement channels
Ever wonder how effective your ads are in a particular advertisement channel. What's the return on investment for the ad money your spending? Wonder no more. Create specific promo codes for each ad channel. Only distribute those coupons in their relevant ad channel. Then track the number of redemption for each promo code. The promo code with the most redemptions will indicate which advertisement channel is the most effective.
Set an expiration date
Setting an expiration date for your promo codes is a great way to create urgency. We are all compelled to make purchases when savings is on the line. It's human nature. You have a valuable coupon or a gift certificate. You see that it is about expire. You make a mad dash to the store just before closing time and cash in! Whew, savings catastrophe avoided! On the other side of the register, the merchant who issued the coupon is saying “Cha-ching! Panicked purchase, created by savings expiration, achieved!”
There are tons of great ways to implement promo codes into your online marketing strategies. Be imaginative and have some fun with it. Chances are, if your having fun, your customers are having fun to.
Nice Promo Codes for Joomla
If your planning to dive right into promo code marketing, take a look at the Nice Promo Codes extension for Joomla. Its flexible and simple to use. With Nice Promo Codes for Joomla you'll be offering promo codes to your customers in no time.