If you don’t make sales through your online store, it won’t matter if you have the very best products, payment gateway system, newsletters and social media posts. Ultimately, you need to get as much traffic to your site as you can, and then convert that traffic into sales - and not just sales, but repeatedbusiness. This is why loyalty programs work so well. If customers feel like they can get a good deal on your site, and if they feel that by buying through your site they may be legible for discounts in the future, they will be much more likely to come to you when they are looking to shop online.
This is where special coupons and vouchers come in. A coupon or voucher is simply a uniquely barcoded ‘note’ that specifies a discount on a certain product under specific conditions such as:
- Two for the price of one if you purchase any product in a certain range or by a certain time and date.
- A discount coupon for referring friends, or if a referral of theirs makes a purchase.
- Birthday and other special occasion coupons.
- Coupons for discounts or a free gift if a customer enters a competition, clicks on a specified link from an emailer or, for example, takes a photo of themselves with a product from your store and shares it on social media (or any other incentive of this nature).
- A voucher for customers who have been signed up and active on your site for a year, or another type of anniversary.
- Coupons for your site’s special occasions! Such as your anniversary or the 100 000th sale.
… and many other incentives, competitions and conditions that you can think of when you have your marketing hat on!
You may be wondering how coupons and vouchers can benefit your online store without making you bankrupt! Well, let’s take a look at the benefits of coupons by referring to the points listed above:
- If customers are offered a 2 for 1 special, or a special such as ‘buy 3 for R350’ as opposed to the items being R130 each, they are much more likely to spend more money. Look at it this way – they are spending R350 rather than just R130, and if you do not hold these types of competitions too often, you will definitely run at a profit, rather than a loss. In addition to this, they may love the deal and the coupon items, which may, in turn, lead them to refer their friends and family (which could earn them a voucher too!).
- This one goes without saying! It is a great way in which to get more traffic and hopefully more customers to your online store.
- By offering discounts and vouchers for your customers’ birthdays or other special occasions, you are breeding customer loyalty. And, more often than not, your customer will be likely to purchase other items from your store when they are on your site spending their coupon.
- By using competitions and other incentives in voucher form, you are encouraging sharing of your content and awareness of your website. If potential customers know they could win something and receive vouchers for signing up, they are more likely to sign up and become actual paying customers!
- Many online stores offer vouchers such as a ‘10% discount on your first purchase’ on signup, and a ‘thank you’ coupon for having been signed up and active on the site for the year, or after making X amount of purchases through the online shop. All of these incentives encourage more people to sign up and to continue purchasing actively on your website.
- By celebrating with your customers for your birthday and other special occasions such as Christmas, Easter and New Year’s, you are creating camaraderie and a more personalised experience rather than being an impersonal ‘shop front.’
Coupons and vouchers don’t have to break your bank; they can range from free delivery, small discounts on more expensive items, and store credit. By incorporating a voucher system into your marketing plan for the year, you can ensure that you have the budget aside for keeping customer loyalty and satisfaction alive.
Now that your customers are enjoying their vouchers, they need to feel safe purchasing through your site too! After all, safety = purchases and return business; so you need only the best payment gateway on your site that accepts multiple types of payments. We can help you with that. Contact PayU today.