We all are familiar with the super famous shopping discount concept, widely known as promo code. And we all have quite the right idea of it. And that how famous it is really. If you have been living under rocks then promo codes are either custom made or automated text like code companies share to the buyers. Buyers then purchase services or products at a discounted price rate. Sometimes peoples call it e-coupon code too.
6 Things You Need to Know When Making Promo Code:
Keep in mind the following 6 points while generating promo codes for any of your marketing stunt.
- Simple Naming: Name your promo codes in simple term. If your company’s name is ABC, you would want to make the promo code like ABC15%. Simple promo codes are more likely to grab buyers attention. And then they are more likely to remember the code.
- Trendy Naming: Name the code using trendy words. Like, BLACKFRIDAY10%
- Personal Touch: If you want to reach each buyer individually then make individual discount amount with the code.
- Availability Strategies: Make sure you know how would you want to share the code according to your marketing strategy.
- You can hand out the codes to all the buyers for ABL approach.
- You can select where can the buyers see the mention of promo code.
- User Limitations: Make a limit on how many buyers you would allow redeeming the promo code.
- Usage Limitations: You can also keep a limit on how many times a buyer can use and reuse the code.
Promo codes and the discounted amount simply depends on the targeted buyers’ behaviour. So, like every other marketing stunt, you should always perform proper R&D before advertising your promo codes. This marketing strategy is a failproof stunt that sure to generate sales, only as long as you reach out to the right population.
You may also like: Digital Marketing Tools to Use After Running a Promotional Campaign
Here are some bonus promo code fun facts,
- E-commerce sites’ promo codes are the top searched promo code on online right now.
- According to Wikibuy Lists, products with promo codes make massive sales over products without one on e-Commerce sites.
- Opening rate of emails with promo codes is way higher rat when the subject line mentions a discount.
- When you put promo code discount amount on emails subject line, email sees double the opening rate.
- SMS Campaigns with promo code in it generates more ROI than regular branded SMS Campaigns.
- 57% of buyers redeem promo codes regularly.
[Source: Woobox, Wikibuy Lists]