Effective Coupon Strategies for Your e-Business

Coupons are a great way to boost your ecommerce sales. Regardless of what industry you are in, this promotional technique is highly effective when done correctly. Running coupons from time to time will keep current customers coming back and entice new ones to visit. Here are some tips on running effective online coupons and increasing your revenue:

Join forces.
Forming partnerships is beneficial for many reasons and is a great way to distribute coupons. By having another business share your coupons, you gain the advantage of reaching a new audience. If an incentive is necessary for a successful partnership, offer a commission for each sale they bring your company.

Reward your fans.
Facebook is a great way to reach potential clientele. Creating a coupon that only fans can redeem (fan-gated) is an effective way to expand your social community.  Another benefit to Facebook is the ability to target your ideal audience.  You will connect with people that are genuinely interested about what your brand has to offer.

Create a sense of urgency.
Offer a coupon code that is only valid for first-time buyers. Be sure to give a designated expiration date as well.  This will push customers to act quickly and move forward with their purchase. This works well for those who are indecisive and gives extra incentive.

Offer coupons on your website.
This is probably very obvious, but you’d be surprised by the amount of businesses that don’t put their current promotions on their websites. This could mean the difference between closing a sale or not. It’s easy to walk away from a purchase when it isn’t well promoted. Make sure the promotion is clearly stated on your site, so no one leaves empty-handed.

Strengthen loyalty.
Reward your best customers with a special coupon just for them. Let them know that they are receiving it because you value them and appreciate their business. You’ll make their day and they’ll come back with or without a coupon because you show appreciation.

Different strategies will work well for different business types, but nothing is guaranteed. Test different techniques and stick with what works best for you. Do you have a good coupon tip to share? Leave a note below or tweet us, @LogoSnap.