Research

Coupon management: Drive sales and revenue across the customer lifecycle

0
Please log in or register to do it.

Growing customer affinity towards discount coupons and sales promotions As customers, don’t we always look for flash words like ‘discount’, ‘sale’, ‘off’, and ‘free’ while shopping? Do you often wait for seasonal, festival or holiday sales to start to make smarter purchases? If yes, you aren’t alone as most everyone we know does too. 64% […] The post Coupon management: Drive sales and revenue across the customer lifecycle appeared first on Insider.

Growing customer affinity towards discount coupons and sales promotions

As customers, don’t we always look for flash words like ‘discount’, ‘sale’, ‘off’, and ‘free’ while shopping? Do you often wait for seasonal, festival or holiday sales to start to make smarter purchases? If yes, you aren’t alone as most everyone we know does too.

64% of online shoppers wait for sales to make buying decisions and nearly 60% of them actually search for promo codes before clicking “purchase” online. Thus, the driving factor of today’s e-commerce customers is to pay less than the actual quoted product price. 

This trend is clear and noticed across all verticals. Customers search for discounts while shopping for clothes or groceries every day. They are locating offers while ordering food online, booking tickets, reserving stays, or even becoming an OTT platform subscriber. Discount coupons have almost become a necessity for customers to make the purchase; inversely,  absent this, customers often hesitate.

These coupons also serve the flow of the customer shopping experience from the outset  when the customer begins browsing as the promotional discount helps nurture a shopping mindset and primes a greater customer purchase intent.

Offering promotional coupons has become an effective marketing practice  because it provides a greater brand means by which to generate revenue-based conversions. Specifically, this strategy not only facilitates customer-brand engagement, but also fuels customer loyalty and greater retention values. 

How can you easily assign and manage coupons?

Insider’s Growth Management Platform offers you the ability to scale your coupon marketing strategy like never before. You can engage your customers with personalized coupons across valuable touch points on the customer journey by deploying them on our cross-channel journey builder, Architect

Architect allows you to use discount coupon codes across multiple channels including Web Push, App Push, Email, SMS, and WhatsApp. 

How can you set up discount coupons in the customer journeys you’re building?

Here’s a step-by-step breakdown of how you can create coupon lists and add coupon codes across multiple channels of your customer’s journey on Architect. 

How can Insider help you scale up your coupon marketing strategy?

Here’s how the effective usage of discount coupons can be a powerful engagement driver for your brand. 

1.Offer personalized coupons for your first-time website visitors

We often hear it said that ‘the first impression is the best impression’. It’s essential to make your new visitors feel valued. Welcoming them by offering an attractive discount coupon is a tried and true strategy that works effectively because it offers them an incentive to purchase. 

Incentivize first-time shoppers to keep buying from you with 20% off on their next purchase

You can also configure these coupons as exit intent pop-ups that appear when the customer is on the brink of leaving the platform. This helps reduce the bounce rate and increases your completion rate for customer purchases. 

To turn anonymous users into subscribers, start engaging them by sending personalized product recommendations, offers, and discounts across channels like email, SMS and WhatsApp. 

Check out how Philips targeted new visitors on the website and mobile app with personalized overlays for their 14.94% conversion rate uplift.

2.Nudge customers towards their next purchase

Enticing your first time visitors by offering a discount coupon often results in  success. However, inviting them back again for their second and subsequent purchases ends up being a formidable task. 

Invite customers to shop with you again with irresistible offers

You can offer a discount coupon at checkout the first time to draw your customers back to your platform for a second purchase. Because your customers are no longer anonymous, you can entice them through cross-channel campaigns via email, SMS, and WhatsApp to appeal to them while they aren’t even on your website or mobile app.   With personally identifiable information like mobile number and email address now available to you, you can also target them in ways that can leverage and scale revenue.

If a customer abandons your website after viewing a few products, web push notifications are an effective way to re-engage them. By appealing to them through discount coupons across various channels, you stand a better opportunity of gaining their purchase attention. 

3.Trigger web messages that guide your customers to discounted products

When a customer is browsing products on your website for a long time without adding products to their cart or is starting to lean out with signs of disinterest, this could indicate that the customer remains unconvinced to buy. To capture their attention and boost an interest,  offering a coupon via web message is helpful.

Create urgency by offering exclusive offers with an expiration date

You could showcase sale products by featuring web messages that lead your customers to the specific landing page for their purchase. This way you can leverage the average time for their website visit, therefore optimizing  your conversion rates. 

Remember, these can only be activated when the customer is visiting your website.

Check out how Coca Cola saw a 19% uplift in conversion rates by deploying coupons on their website

4. Send out web push notifications that bring your customers back to your website

How can you attract customers when they aren’t even on your website? Sending browser push notifications featuring discount coupons is a smart way to attract customers and return them to your website. 

Because the message appears on the desktop running screen itself, push notifications become one of the most helpful engagement methods. 

5.Offer exclusive discounts for mobile app users

Mobile commerce is on the way up with sales generated from mobile purchases skyrocketing over the past few years. Keeping up with this trend, app installs and uninstalls have now become a key metric that many marketers track. 

Brands believe that by getting customers to download their app, they can improve their engagement by regularly interacting with them across channels like push notifications, email and SMS that bring them onto the app and drive them towards purchase.

Offering discounts that are exclusive to mobile app users is a great way to encourage website visitors to download the app. This is a win-win situation for both parties as the brand’s goal of getting the customer to download the app is accomplished. The customer also receives an additional discount for completing the purchase via the app. 

6.Trigger in-app messages that nurture buying interest

The mobile app version of web messages, in-app messages, are basically pop-up messages that could be triggered to guide your customer to a certain section of your app. If certain products are available at a discounted price or if there’s a sale page on your app, in-app messages could be launched to redirect to that specific section to receive the discount.

Triggering in-app messages at the right time with attractive discounts is a useful technique to increase conversions and boost revenues.  

7.Send out targeted app push notifications that brings customers back to your app

Don’t we end up spending countless hours on our mobile phones across different apps every day? With so many apps on each customer phone, the time spent on each app is negligible. It’s therefore essential to build an effective engagement channel with your customers even when they are not visiting your mobile app. 

By sending out discount coupons via app push notifications, you will be able to draw your customers to your app while they are simply using their phones. Even if your customers haven’t visited your app for a long time, a creative push notification with an eye-catching discount gives you a great chance of attracting your customer directly to your app.  

8. Send out notifications to customers who abandoned the card

Cart abandonment is one of the major challenges that eCommerce marketers face. Online shoppers often add products to their cart but drop off before completing the purchase. By adding items to the cart, the customer gestures an interest to buy. 

Sending an email or push notification to remind your customers that there are products in the cart is a good way to reduce cart abandonment. Brands can uplevel customer purchase further by offering a discount to encourage them to get back onto the platform to finish the sale. 

Check out how a leading apparel retailer DeFacto deployed cart reminder push notifications to improve customer engagement and boost retention. 

9. Reactivate dormant customers via email

Disabling customer churn is an important goal for today’s marketers. Have some customers who haven’t visited your platform for a while? This could be a sign that you’re on the verge of losing them as regular customers. 

Re-engage your dormant customers to ensure that they continue using your platform fully. Along with your customized email, you can show them some additional love by offering them personalized discounts to show how much you miss them. 

By re-engaging with dormant customers you’ll better retain hard-earned customers. 

10. Leverage offline channels like SMS to draw your customers to your online platform

Beyond your online channels, you can make effective use of offline channels like SMS to bring your customers back onto your mobile app. Short text messages with a personalized offer can pique your dormant customers  by re-engaging them with your brand. 

Discount coupons can be sent via SMS during various scenarios such as festival or seasonal offers, abandoned cart and re-engaging dormant users. 

Get started with coupon management and ramp up your sales!

Offering discount coupons at various stages of a customer’s journey has become a necessary feature of  today’s marketing strategy. Numerous brands have earned success by effectively using discount coupons as a part of their customer engagement and retention strategy. Smart usage of coupons can be a beneficial way to build a connection with your customers, thereby increasing your sales and revenues. 

With Insider’s Coupon Management, you can manually bucket your customers into different segments to send out more personalized coupons than ever before! With a more detailed understanding of your customers’ behavior and affinities, you can send out discount coupons across numerous channels like web push, app push, email, SMS and WhatsApp. 

To learn more about how you can scale your digital and mobile marketing strategy with Architect, get in touch with us today! 

The post Coupon management: Drive sales and revenue across the customer lifecycle appeared first on Insider.

Executive Insights: Trends Marketers Should Keep an Eye On for 2022
Choice vs. convenience

Reactions

0
0
0
0
0
0
Already reacted for this post.

Reactions

Waiting for someone to like ?