How to effectively offer discounts
These are traditional sales used to drive increased sales
Use pre-launch offers to help drive traffic and peak interest
Black Friday, Christmas and New years are the big ones
Abandon Cart Offers
Abandon cart offers can be powerful to bring people back
Offers for Liking
One of the hardest parts of running a new online store is getting word out
People are likely to purchase if referred by a friend
According to a 2012 study about what science says about discounts, shoppers who received a coupon had a 38% rise in oxytocin levels, their respiration rates dropped 32%, heart rates slowed 5%, and sweat levels were 20 times lower. In short, shoppers were less stressed and more relaxed if they used a coupon to make a purchase. And they were 11% happier. All thanks to a coupon.
Of course, coupons aren’t a magic solution that prints money. There are potential downsides to using coupons:
- Coupons can negatively impact your brand. All that discounting can devalue your products or services.
- If you don’t carefully plan your coupons, they could reduce your overall revenue.
- Coupons don’t work on all customers.
- There’s the potential that you could be training your customers to wait for coupons.
Coupons aren’t a magic bullet, so coupon tracking is the best way to make sure you’re making the best decisions. You’ve got to have the right strategy to make sure your coupons are working for you.