Referring customers must be incentivised by discounting their next order

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 17, 2020, 12:37 PM UTC

Offering a discount in exchange for a customer’s email id is recommended.

The author suggests how brands can execute a digital coupon strategy to boost ecommerce sales. Brands must get rid of poor selling and slow moving products or offer a steeper discount to break even to sell items that aren’t selling as well as others.

Businesses must create an email list of potential customers and offer a small discount in exchange of a user’s sign to gain subscribers. Adding spending thresholds is an effective way for a brand to grow average order values and use automatic coupons.

Companies must boost their referral programs for their existing customers and new acquisitions. The existing customers can introduce new users to a store with a coupon for them to use. The referring customers can be given a discount on their next order.

Read the original article

[8 minute read]