With expensive products, a better choice might be an amount-based discount, such as 100 euros off with purchase. For example, if your product costs more than 1,300 euros, a 20% discount would mean 240 euros off the resale price. In this case, a percentage-based discount will get too costly. Usually, it is not a good idea to give a percentage-based discount if your store sells only high-value items. The best discount code option for your e-commerce store depends on the type of products you are selling and the value of the products. When you implement a discount code strategy on your e-commerce store you should start by deciding what offers you want to include in your discount code campaign. You can also test to see if a discount percentage, like 10% off, or a flat rate discount amount, like 5€ off total order, converts better. So, I haven't really settled on one specific way to do it yet.“įor example, you can test out if the discount codes that you advertise on social media lead to more checkout conversions or if the discount codes you offer on your website convert better.ĭoes a pop-up discount code or a banner discount code work best for your shop? “You can test two options and see which one has a better conversion rate for getting someone to take the discount, “ he said. Haverty has done a lot of A/B testing to see which distribution channels and offers work the best for his store. One challenge that Haverty ran into when trying out different ways to distribute discount codes is getting customers to take action. “I'm constantly looking at the way I am using discount codes and evaluating the results.” “Discount codes sound simple, but it’s extremely complicated and subtle to actually implement them,” Haverty explains. If you want to get the most out of your discount code strategy it requires a bit more planning and testing. You may think that you just need to generate the code, market it to your customers and you’re off to discount code success. Strategies for optimising the use of discount codes If done correctly, these customers can turn into returning buyers. Discount codes are great at attracting new customers in fact, 39% of shoppers say they bought a product for the first time from a new brand due to a discount coupon. However, the number one reason to use discount codes is definitely to increase revenue. According to Wikiby, 50% of consumers are more likely to visit a store when they have a discount voucher. Benefits of discount codesĭiscount codes are effective. “With discount codes, you are giving them a little bit of a light push to encourage them to complete the purchase,“ Haverty says. Discount codes are an effective way to push customers to buy now rather than later. The key component with discount codes is that the customer is already interested in the product. The purpose of this code is to compel the customer to press the buy button with a discount incentive. What is a discount code?ĭiscount codes are usually a combination of numbers and letters that enable a percentage or amount off of a customer’s order. Keep reading to grab the tips for your e-commerce store. He shared great tips on how to maximize the potential of discount codes on your website. We talked to e-commerce expert Lou Haverty, owner of Enhanced Leisure for the lowdown on discount codes. But have you ever stopped to analyse how well your discount code strategy is actually working? If you own an e-commerce business you are probably already using discount codes.
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