Online stores offer wider choices and benefits to customers preferring online shopping over conventional shopping. Convenience, attractive pricing, varieties are some of the general reasons for the growing popularity of online shopping. Sellers are also benefiting from this growing online trend. Global outreach, 24/7 connect with customers, improved client service, flexibility, cost savings, faster delivery of products through shared and managed services and managing the business from anywhere in the world, has widened the seller’s scope.
Online sellers are now using SavioPlus offers and coupon services to drive more revenue as well as attract new customer. Discussed below are some ways of using coupons and deals to increase revenue.
- Periodic coupons to push sales and revenue
Coupons have long been an effective way to boost product sales. With the advent of online mediums, the reach of online coupons has increased as well as the cost of distribution has reduced further. Often, coupons are used at the end of a month or quarter to increase revenues and meet goals. In below example PepperFry is offering a Limited Time coupon as promo codes. This drives more consumer participation compared to normal offers, this directly results in more revenue for online stores.
- Attractive coupons for festive seasons
Diwali, Christmas and New years are the big ones, but in India the whole year is filled with festivities that could be tapped to increase sales and revenues. The festival season is a good time for the retailers for appealing customers with discounts and schemes. The festive season is the time when most of the customers spend without giving a second thought. In this context, retailers could create an aura around the products and shopping experience, which can easily tempt people into buying. Hence, it is important to create festival specific coupons and shared with customers to trigger their buying interests.
- Deals on combo purchases
‘More the better”, that’s the way online consumers perceive nowadays. Customers find it attractive to reduce the number of separate units, and retailers are responding by offering more combos. This offers results in more consumer traffic, which directly impacts revenue generation. This in turn, helps in increasing the bill size and the customer is happy too.
- Exclusive coupons in association with partners
Authenticated coupon sites such as SavioPlus, ShopPirate, Coupon Dunia often have an exclusive tie-up with various online sellers who can provide exclusive coupon codes to their users. Sellers could strategize for a partnership with these sites, for a better conversion. Here is an example of How OYO Rooms is offering exclusive coupons code in association with SavioPlus.
- Referral coupon codes
People are much more likely to purchase from you if referred by a friend or family member. Retailers can choose to give a deal to the person referring and the person being referred. For example Ola Cabs referral, provides one of the best referral coupon code, providing free rides to person referring and the person referred.
- Coupons for first time shoppers
Introducing coupons for first timers could be just the push the first-time visitor needs to be converted to a paying customer. For example, brands like Meru Cabs provides coupon codes for the first time users to avail great deals.
Coupons and deals are good engagement techniques. These are measurable and could provide insights for improving the experience of customers and well as help the sellers in streamlining the business. If you are an online seller, use coupons to increase loyalty. The most important challenge is not creating the offer, but making sure it gets distributed among potential customers. If you are an online seller and looking for an increase in revenue coupon and deals must be part of your strategy.