Everyone Loves a Deal
We’ve compiled a list of 5 ways to successfully use promo codes in your marketing plan. Incorporate promo codes for your products into your marketing strategy. Benefits include acquiring new customers, and retaining your current customer base. The specific advantages of promo codes differ based on the advertising method, type of code, and overall goal.
- Entice customers to take action. With time-bound promo codes, you create a sense of urgency. This will encourage customers to convert. Think about advertising a code that is available for the first 10 customers to purchase a product, or take advantage of this offer for one day only.
- Increase brand loyalty. Promo codes are a great way to engage with your current customers. You can create a loyalty program to offer monthly discounts. Many businesses also provide discounts to customers post-purchase as incentive to return.
- Target your social network. Reward top fans, and convert new customers. Offer promo codes as a reward for following you on twitter, liking your facebook page, and signing up for your newsletter. By building your social reach, you can quickly increase your customer base.
- Collaborate with partners. Another way to extend your market is to identify businesses that complement your product and offer promo codes from their websites. The partners offer exclusive discounts, and you have increased your audience.
- Close the sale. If a customer has added a product to their cart, but not yet purchased, you can use promo codes to make the conversion, and decrease abandonment rates.