In this extremely competitive market, digital vouchers work as a great tool to help online businesses retain existing customers and attract new ones. According to Wiki Gains, offering coupons is a tried and tested method to increase sales. From clearing unwanted stock to creating special promotional events, coupons are a great way to bring about a rise in overall sales. It works for almost every type of online business, no matter how big or small.
1.) Create Bold Headlines That Demand Attention:
When you are offering a coupon or discount, make sure that the offer attracts attention and makes people sit up and take notice. They should be solid, bold and specific like – Buy One Disneyland Ticket and Get One FREE! According to Wikigains, in the voucher business, the deal that shouts the loudest wins.
2.) Make An Offer That Counts:
Let’s be realistic. Customers will not be tempted to buy a $100 product to get $2 off. However, if you offer 30% Off that offers good value. You may also offer free information like Free Workout Video or FREE Guide. Visit Wikigains to see examples.
3.) Promote The Benefits:
People don’t have the time to analyze a product and see how it can help them. Vouchers can sell the benefits by telling them that they can save money, save time and improve quality of life.
4.) Use Images Whenever Possible:
When you add images to your coupon or discount offer, it dramatically increases the effect it has on people. Proper illustration makes it easier for people to understand your offer.
5.) Let There Be White Spaces:
Please remember this golden tip and don’t cram your coupon offer with lots of content. Make good use of white spaces so that it is easier for people to clearly see the exact discount amount or percentage.
6.) Focus On Customer’s Self-Interest:
Customers are not interested in your product, but what it can do for them. So, make sure your offer tells them exactly about the benefit of use. Visit Wikigains.com to see examples.
7.) Make Use Of Powerful Words When Advertising:
Use powerful and attention-grabbing words such as free, save, how to, results, fast, sex, guarantee, proven, amazing , new, money, now, simple, etc.
8.) Leave No Opportunity To Up-Sell:
To run a successful business, it is important to leave no opportunity to up-sell. When your customer requests information or places an order, always show related products with key benefits.
9.) Display Special Products To Encourage Impulse Buying:
When a customer walks into the store, make sure your special items are arranged in a way to tempt him to walk the entire area. This encourages impulse purchases.
10.) Create A Database Of Customers:
Make sure you create a database of your existing customers including their name, email address, address and telephone number. You can send them vouchers for special occasions or invite them for a clearance sale, etc.
11.) Make Customers For Life:
Your relationship with a customer should not end after an order is placed. In this competitive marketplace, you can survive only if you are successful at earning more loyal customers, says Alex from Wikigains. So follow up with emails, send them brochures, and offer special vouchers and discount.
12.) Include Logo In The Coupon:
Always include your logo in vouchers and other marketing materials as this helps in building your brand value. People are good at remembering images so chances are they will know you by your logo.
13.) Bundle Offers:
Bundles, generally, create greater profit opportunities than selling one-off products. Surprisingly, selling a number of items together as one product isn’t more difficult than selling a single item. This is because bundles have a higher perceived value. Assuming that your margins allow you, top the offer up with a generous coupon and you may see bundles becoming your most popular product.
Bonus Tip: Exclusive From Wikigains
Alex Papaconstantinou, founder of Wikigains, says that this is probably the most important tip in coupon marketing: Merchants should work with products with at least 200% ROI. ROI means Return On Investment. Working with such products means that you as a Seller have plenty of margin to play with. You can sacrifice part of that margin when you give out coupons, but this will yield more sales, more reviews, more subscribers for your newsletter and more opportunities to upsell. In other words, you lose some profit margin now, but you make a lot more profit in the future. Wherever you are sourcing your products from, whether it is from Alibaba or from a local supplier, make sure your products give you at least 200% ROI. If your ROI is less, then you want to think about whether it is worth staying in that niche. This goes for any online selling, being from your own blog or from your Amazon page.
According to Wikigains, vouchers can also be used to drive more future traffic to your business. When a customer buys a product offer them a discount code for their next purchase. This not only promotes your business but also encourages repeat business.