7 Ways In Which Voucher Codes Can Benefit You

Voucher codes, online coupons and promos are hugely popular these days. If you hoping to save money with your next purchase then voucher codes is what you should look out for...

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Track easily

While giving out voucher codes you can easily track your channels and campaigns to find out which ones are actually being redeemed and which ones are simply wasting the money spent...

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7 Ways In Which Voucher Codes Can Benefit You

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Voucher codes, online coupons and promos are hugely popular these days. If you hoping to save money with your next purchase then voucher codes is what you should look out for. Every other advertiser seems to be taking complete advantage of these and listed below are 7 reasons why: 

  1. Sharable 

There is probably nothing better than a solid customer referral. Each time one of your customers will share a voucher code; there is a high probability of great customer referrals. A simple search on voucher codes will tell you that there are innumerable people sharing these codes and sending out great referrals at the moment. 

  1. Better conversion rates 

Research shows how voucher codes can help convert potential customers to final purchasers. Often these voucher codes will drive shoppers to buy new brands, help convince them to actually purchase a product that might have been lying abandoned in their carts for a long time. 

  1. Easy kick start 

A voucher code is a kick start that your new business needs. If you are already advertising and promoting your brand, voucher codes will help take it to the next level by giving your brand name more value. More customers are bound to notice the option and eventually reach your page for the next level of conversion. 

  1. Enhance your brand reputation 

Voucher codes are easy ways of enhancing your brand reputation. All you need to do is spread the news among your customers that you are offering voucher codes to help them save money while they purchase from you. This gives them a special feeling of belonging to the insider’s club. Your customers will consequently spread this news among their friends and acquaintances and this will help increase brand loyalty.  

  1. Track easily 

While giving out voucher codes you can easily track your channels and campaigns to find out which ones are actually being redeemed and which ones are simply wasting the money spent on advertisements. This can be easily done with the help of an Ecommerce System with which you can track the redeemed, shared and ignored voucher codes. 

  1. Make A/B testing convenient 

Every campaign should include A/B testing. When you use voucher codes, it can help your business significantly by providing the insight that you need. By putting a different voucher code on the same offer that you have sent out through different channels, you will be able to track which ads and channels are doing good and which ones are not.  

You can also try putting different voucher codes on different mail formats, mails with different subjects and separate voucher codes on offers of 10%, 15% and 20% to find out which one has performed the best. 

  1. Your order values will increase 

Research has shown that once customers save money through the first offer, they typically tend to add more products to their carts. More often than not, the value of these products goes far beyond the original value of the first product that they had selected. When you keep this mentality of customers in mind, you will know when to throw in a voucher code. 

The addition of a voucher code will make them want to add more products than they had initially thought of adding to their cart.  

Yet another way of using voucher codes to your advantage is to restrict the use of the code until the customer spends a certain amount of money that will eventually give them access to use the voucher code. In this manner, you can ensure that your order values increase. 

Conclusion 

While offering voucher codes, there are a few things that you must absolutely remember. Always question yourself if you can afford to offer the discount. Also ask yourself if you are making a margin. There are different types of voucher codes and you should be versatile while offering them. Ideally, they should be aligned to your marketing strategy. The broader voucher code you offer, the better are your chances of reaching a wider customer base. 

You must lay down clear terms and conditions while offering voucher codes. This is a requirement to ensure transparency for customers. At the end of day, voucher codes should be sustainable. Always be sure that the discount and total cost of sale is within your profit margin. This calls for tried and tested voucher codes that have worked in the past or have the potential to work in any given market condition.


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