Did you know that about 57% of shoppers are more likely to purchase an item if it has a discount code? That’s right, using discount codes can be one of the best ways to entice online shoppers. But you need to know how to use this strategy to your advantage.
Some of the basic strategies of using discount codes to entice customers include understanding your target audience, knowing which channel to use to promote the discount codes, and picking the right time to offer the discounts.
Discount codes give shoppers discounts when they spend money with you and increase your chances of making a sale by up to eight times. Therefore, if you’ve not been using this strategy to increase sales, you’re really missing out. We’ll show you how to use discount codes to entice online shoppers and generate sales like you’ve never before.
How Do Discounts Attract Consumers?
It’s no secret that a lot of people love to shop. The anticipation and thrill of finding something new and exciting can be really rewarding. And if you add a discount to some of these items, you’re in for a really great time as consumers will flock to your website for a chance of getting their hands on these fantastic deals.
To a customer, a discount is just an added incentive. It’s only one part of the buying process, but it can play a significant role in their decision-making. A discounted product is seen as less expensive than its original price, making it more appealing to customers.
And that’s not the only reason discounts entice customers.
Build Brand Loyalty and Create Customer Happiness
A study by Claremont Graduate University showed that discounts create customer happiness. The study found that customers who received coupons released oxytocin, a chemical that makes people happy.
In addition, the more coupons they received, the more delighted customers were. Furthermore, these customers were more likely to shop at that store again in the future. This is because they have a positive experience with the brand.
Discounts Eliminate the Need to Shop Around
Customers are less likely to shop around when you have an attractive discount code on your products. Instead, they will be more likely to purchase from you because they know they are getting a good deal. This is especially true if your competitors do not offer discounts on their products.
Discounts Create a Sense of Urgency
In most cases, discounts are given for a limited time. As a result, customers desire to pull the trigger and buy before it is too late. This is why discounts are usually used in conjunction with flash sales or holiday deals.
How to Use Discount Codes to Entice Customers
In an ideal world, customers would find your products through organic search and social media. Unfortunately, this is not always the case. Sometimes you need to use various strategies to get customers’ attention. A discount code is one proven way to entice customers to buy from you.
owever, you need to use the right strategy to get the most out of your discount codes. Here are some crucial things to do:
Identify Your Target Audience
The first step is to identify your target audience. Not everyone will be interested in your products, so you need to focus on the people who are most likely to buy from you. Once you know your target audience, you can create a discount code that will appeal to them.
Know Which Channels to Market the Discount Codes
Once you’ve identified your target audience, you need to market your discount codes to the proper channels. For example, if you’re targeting millennials, you’ll want to post about the discounts on social media platforms like Instagram and Snapchat. But if you’re targeting Baby Boomers, you’ll want to focus on traditional advertising channels like TV and radio.
Choose an Appropriate Time Frame
Another factor to consider when choosing a discount code is the time frame. If you’re planning to offer discounts for only one or two days, it’s best to run your marketing campaign quickly and intensely—like Black Friday promotions that last just 24 hours.
However, if you want the savings to be available longer than a couple of days, spread out your marketing campaign over a longer period. That will give potential customers more opportunities to learn about the code and take advantage of it.
Another critical decision you’ll make is choosing when to run your marketing campaign. Most online stores succeed in the holiday seasons, so it’s wise to run your marketing campaign at that time or around important events like Valentine’s Day or Black Friday.
There you have it; three simple steps to using discount codes in your marketing campaign. It’s not always easy, but you can achieve success without too much effort or cost with the right strategies and timing.