Post Preview
Coupons are a valuable tool for growing an online audience. They can help you grow your social media following and email list and even encourage mobile website usage.
A savvy bargain hunter recently shared her secret hack on how to find amazing deals at hidden clearance sections. She said it was worth the trip from her home to score designer wear and jewelry for a fraction of the retail price.
Look for the Best Deals
In addition to coupon codes, many shoppers use online tools like aggregator apps and browser extensions to find the best deals. These apps and extensions compare prices across the web to show users the lowest price and any available discounts for the product they’re interested in. Some even offer cash back on purchases at participating retailers.
For example, a product on a store’s website might be listed at $300, but customers can save $50 by adding it to their virtual cart and logging into the store’s loyalty program. This gives the store valuable information about what products people are interested in and allows them to target future sales and promotions better.
Similarly, retailers often give exclusive online discounts to their email newsletter subscribers. This is a way to keep existing customers engaged while encouraging them to spend more, which in turn helps the retailer increase revenue. Just be sure the percentage discount is not so steep that it undercuts a product’s value. A good rule of thumb is to offer a discount that is no more than 10% of the item’s original price.
Check for Discount Codes
Coupon codes can unlock 10% or more discounts at many online stores. These codes are usually available in email advertisements and on a store’s website, but they can also be found on dedicated websites such as RetailMeNot.
Some retailers use these one-time promo codes when shoppers sign up for their newsletters. These are usually personalized for the shopper and have long strings of numbers like “WELCOME-AXS2883” that can be entered at checkout to unlock a discount. You can also find these codes on influencers or in the sites’ forums.
Another option is to use a shopping extension to check for coupons and cashback deals while you shop. It’s also worth checking the websites of your credit card issuer as they often offer discount codes, money back, and extra points on purchases at specific stores—lastly, ask for codes or samples directly from the manufacturer of the products you’re considering purchasing.
Online marketplaces are made up of sellers, each with their unique products. This can make it challenging for e-commerce marketers to find effective ways to attract new customers and retain loyal ones. But one way to boost conversions is by using coupons.
When used wisely, coupons can help you build a customer base and increase your sales revenue. But it’s essential to consider a coupon campaign’s risks before jumping in. It’s possible to use coupon campaigns in a way that trains customers to expect lower prices for your goods and services, which can reduce long-term profits and lead to high customer churn rates.
To make the most of your coupon strategy, consider a variety of digital coupon formats that appeal to different types of shoppers. For example, a limited-time discount on an item can create a sense of urgency that encourages customers to buy quickly before the deal expires. This type of discount is particularly effective when you want to drive sales in specific seasons or events.
Compare Prices
Comparing prices is one of the best ways to save money when shopping. You can do this manually by looking at store flyers and searching for discounts online or using a price comparison tool. These tools search among thousands of retailers to find the best product deals. They can also locate coupons and cash-back offers. Some are available as browser extensions or apps, while others are standalone sites.
Some price-comparison websites focus on specific categories, such as electronics or apparel. Become, for example, features reviews and prices from multiple online retailers in one place. Similarly, a site compares prices, giving shoppers the information they need to make an intelligent purchase decision.
Some price-comparison tools are free, while others require a subscription or a credit card. For example, when buying items online, the browser extension searches for coupons and cashback opportunities. It also tracks prices and alerts you when the price drops. This can help you save up to $126 a year.
Look for Deals in Multiple Stores
When it comes to finding deals, intelligent shoppers have plenty of tools. Some use bar code scanning apps on their smartphone while others clip coupons from the newspaper. However, savvy online shoppers know that they can also take advantage of browser extensions or app tools that do the bargain hunting for them.
For example, the browser extension offers cashback on purchases at 2,500 online retailers. Another option is the mobile app, a price comparison tool that searches for coupons and discounts on specific products in multiple stores.
Some sellers even offer free shipping codes as a bonus for their social media followers and email newsletter subscribers. This is a great way to build brand loyalty while boosting sales conversion rates.
Finally, some online stores will send you a discount coupon when you abandon your cart without checking out. This is a smart move because it allows you to entice you back with a 15 – 20% discount. This is a good way for a company to eliminate slow-moving inventory while increasing customer loyalty.
Similarly, digital coupons with a spending threshold can boost average order values by encouraging customers to add complementary items to their carts. Lastly, text messages are a great way to promote your coupon offer because they feel more personal and don’t get lost in the din of email spam.
Another benefit of digital coupons is that they allow you to track your inventory and sell products that haven’t moved. However, determining the correct percentage to reduce your product’s regular price can be tricky. It needs to be large enough that your customers feel they’re getting a good value but not so big that it diminishes the perceived value of your products or services.
