Incentive-based coupons help sell better

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 03, 2021, 2:08 AM GMT+0

Develop mobile-friendly coupons in a text or QR format to offer personalised discounts and boost online sales.

Implementing a coupon strategy can help businesses attract price-conscious customers and stay top-of-mind amid COVID-19. Providing special discounts and coupons for essential workers during the pandemic can help brands build customer loyalty and boost CSR.

Coupon strategies like “Buy-One-Get-Free” (BOGO) and frequency-based coupons allow brands to cross-sell, up-sell, clear inventory, and drive repeat sales based on incentives. Have a longer period of flash sales with sales copies like “buy now” or “today” to create a sense of urgency and drive sales.

Offering free shipping coupons along with easy return policies can also boost conversions, as psychologically consumers may spend more to avail of free delivery. Businesses can partner with brands in their niche to offer cross-promotional offers like complimentary products to extend reach.

Read the original article

[8 minute read]

Explore more data & articles