Competition amongst ecommerce businesses and online stores are getting pretty tough these days. That is the reason why so many ecommerce business owners are always trying to find ways for them to attract more customers all the time. There are many ways to do so, actually, and arguably one of the most popular is by offering online store coupons or discount coupons.
Many people often ignore coupons, especially the ones which you need to clip of newspapers and magazines or even calendars. However, in the online world, discount coupons from online stores are pretty popular amongst many internet users and online shoppers. In this, research entitled Snapshot: Digital Coupons sates that:
“By the end of this year, nearly half of U.S. internet users will have redeemed a digital coupon.”
And to answer your question about whether there are benefits of coupons for your ecommerce business, the same report states:
“Retailers exploring this tactic have found that digital coupons often trigger online searches, influence brand product choices, and re-engage customers.”
So there’s basically no reason for you not to offer online store coupons and coupon codes to your customers, except of course, if you have no idea what kind of online store coupon works best for your ecommerce business. To help you out, here are some of the most popular and effective kinds of online store coupons that you can offer.
Freebie and Discount Coupons
Freebie and discount coupons one of the most sought after online store coupons by many online shoppers. The most popular freebie coupon is one that offers free shipping. Many online shoppers actually pay much consideration to free shipping. In fact, this infographic shows that more than 50% of online shoppers abandon a shopping cart because of shipping expenses involved. In this sense, offering coupons on free shipping helps you to reduce your shopping cart abandonment incidences. You can also offer other items as freebies (e.g. Get this item for free when you buy that item).
The same is true when you offer discount coupons. You can offer discount coupons where online shoppers can get a fixed amount removed from their total purchase (e.g. Get $10 off on select items), a certain percentage (e.g. Get 10% off on selected items).
If you plan on offering coupons like these, be sure to set a purchase limit before they can avail of the promo (e.g. Get $10 off on your next purchase or Avail of free shipping for a minimum purchase of $99). This will ensure that you have made a sale which will offset the cost associated with the online store coupons you are offering.
Offering exclusive online store coupons helps to increase the perceived value of your ecommerce store amongst online shoppers. By offering coupons of this kind, you give online shoppers a sense of exclusivity which not other shoppers have, thus making them feel valued and cared for – something which all shoppers, online and offline, look for in a business.
Exclusive online store coupons can be given to both new and existing customers. Utilizing such coupons, you should be able to gather a good number of new customers and grow your customer base (e.g. Get 10% off on your first purchase). For existing customers, exclusive online store coupons works as a form of reward, thanking them for their patronage and at the same time increasing your chances of repeat purchases.
Time Bound Coupons
Time bound online store coupons are those that can be offered for a limited time such as daily deals discount coupons, weekly or monthly coupon codes, or even all year-round coupon codes (for instance, free shipping can be offered throughout the year.) Limited time online store coupons can also be considered as exclusive coupon codes because they create a sense of urgency, while year-round coupon codes helps to retain customers and encourage repeat business.
Holiday or seasonal online store coupons are also considered as time bound coupon codes, and can also be exclusive when given to particular groups of customers like regular customers or “early birds” (e.g. 10% off for purchases made two weeks before December 25!)
Tying it Up
Offering coupons in your ecommerce business is a great way to attract new customers and encourage existing customers to conduct repeat business. The above mentioned kinds of online store coupons are some of the most popular forms of ecommerce coupons which you can use to your advantage. Choose the one which you think will be best for your business, implement it, and see just how helpful they can be to growing your profits and ecommerce business.