Boost Your Ecommerce Sales with Coupons
Published July 17, 2017 by Rush Hour
Digital coupons are an excellent method to help drive revenue to Ecommerce storefronts. Digital coupons work essentially the same way that ‘traditional’ print coupons work – and are aimed at getting customers to make a purchase by offering discounts for the purchases they make. On study done by Retail Me Not found that 80% of shoppers in the US agree that digital coupons “close the deal” for them when undecided on a purchase.
People are always looking for ways to save money and coupons are a great way for businesses to address their customers’ need to save. Coupons are essentially a win-win situation for everyone involved – businesses and their customers alike.
There are several types of digital coupons such as downloadable and mobile coupons - but we usually recommend to merchants who are just getting started with coupons to make use of coupon codes first.
Coupon codes are faster than having to download a coupon and are also a lot easier for the buyer to complete at the point of sale. In fact, in the 2016 Vibes Mobile Consumer Report, 82% of shoppers in the US say digital coupons are a convenient option compared to printed coupon.
Coupon codes typically consist of a combination of unique numbers and letters, and are typically applied either at the shopping cart or check stage of the online purchase.
What are some of the advantages of using Coupons?
Lower advertising costs
Digital coupons cost much less to create and distribute versus traditional print coupons.
Increase traffic to your online storefront
A study by Retail Me Not found that 85% of consumers in the US look for coupons prior to visiting a store.
If you promote digital coupons across your businesses’ online platforms such as social media and email campaigns, they can potentially be viewed by a large audience that could visit your online store.
Coupons can enhance your branding
Coupons would include your company name, address, website URL, branding, etc. As such, coupons can not only help you sell more but also promote your brand.
In another survey done by Retail Me Not, it was found that 68% of shoppers in the US strongly believe that digital coupons have a positive impact on a retailer’s brand.
Increase Customer Loyalty
Digital coupons increase the probability that both new and current customers will keep coming back to visit your online store, making them part of your customer base.
Metrics and Analytics
The nature of digital coupons allows for businesses to track coupons and therefore get various metrics and generate analytical data of their performance. This is turn allows for better tracking and reporting on digital coupon ROI.
Many studies have already shown that digital coupons can help increase conversions and reduce shopping cart abandonment.
In a study by Market Track they found that 83% of shoppers have made an unplanned purchase based on the availability of a coupon.
In the 2017 Valassis Coupon Intelligence Report, they found that 86% of consumers admit coupons prompt them to try new products.