As an e-commerce business owner, we are aware that there are a lot of items that you have to deal with, from making sure orders are fulfilled to managing day-to-day transactions. On top of these, you need to pay attention to the work that comes with managing a website. As such, it is natural that you want to find the easiest and most effective ways to increase your income. For this reason, it is very important to learn how to use applications such as discount codes and coupons correctly in your business.
Offering millets discount code and coupons is an effective e-commerce tactic that helps you increase your sales, but if not properly planned and implemented, it can damage your brand image and negatively impact your profit margin. In this article, we will discuss the pros and cons of discount codes and coupons and talk about the different ways you can use them to increase your e-commerce revenue.
Pros and cons of using coupons and discount codes
Discounts and coupons can increase revenue as well as increase customer loyalty. However, there are some pros and cons that you should keep in mind before you decide to use them.
Advantages of offering coupons and discount codes
The most important benefits and advantages of offering coupons and discount codes are:
• They can be easily added to WooCommerce
• They increase customer acquisition.
• They increase conversion rates.
• They provide faster melting of stocks.
• They make it easier to reach sales and revenue goals.
• Disadvantages of offering coupons and discount codes
The disadvantages of offering discounts are:
• They generally lower the profit margin.
• They cause you to see lower conversion rates when you are not campaigning.
• They can attract customers who want to shop cheaply.
• They can cause the average shopping cart prices to fall.
ways to use discounts effectively
Now that we’ve touched on the pros and cons of offering discounts, we can now use discount codes and coupons without damaging your brand image and reducing your profit margins. Here are some methods we have compiled for you:
Ready to learn how to use discount codes and coupons to increase your online store’s revenue? Keep reading.
1. Weekly or monthly deals
The most common deals are deals that are offered regularly on weekends or month ends. They help you increase your conversion rates and meet your sales / revenue goals.
2. Discount code for shopping cart abandoned
Cart abandonment is a real problem for many online store owners, and one of the effective ways to reduce cart abandonment is to remind it in an email and offer a special discount code. With a plugin like Abandoned Cart Pro for Woo Commerce , you can automatically send reminder emails to your customers who abandon their cart in your online store, thereby streamlining the process of converting abandoned baskets into shopping.
3. Offer to subscribe to the e-newsletter
Another way to use discounts is to offer them as an incentive to sign up for your e-newsletter. For example, you can offer deals such as 20 TL discount code in the basket to those who subscribe to your newsletter. This not only helps you build your email list, but also allows you to connect with your potential customers, build relationships and turn them into loyal customers.
4. Reference discounts or coupons
Consider sending a custom reference code to your existing customers. Or you can offer special discounts on your social media accounts. This method helps you reward your customers who follow you on social media. It also makes it easier to reach new potential customers if you encourage your followers to share the post with their followers and friends.
5. Special discount code for visitors who intend to leave your site (exit-intent) without shopping
Showing a discount code or offer to users who try to leave your website without shopping is a great way to change their mind and turn them into customers. You can also combine this offer with the offer to subscribe to the e-newsletter so that, in addition to gaining customers, you can continue to communicate with them and continue to send marketing emails in the future .
