It’s no secret that distributing coupon codes is a great way to give one of your products a boost in sale. But what is a mystery for many marketers is how to effectively employ a coupon strategy that optimizes conversions and boosts sales.
Because here’s the thing…
Distributing coupon codes works really well, simply because a coupon with an expiration date increases urgency (which in turn boosts conversions). But since coupons do have these expiration dates, you can’t lollygag with the strategy. You need to get the codes in front of as many people as possible and convince them to use them and share them.
Here then are tips for making the most of your coupon strategy…
Don’t Overuse the Strategy
Nothing kills that sense of urgency as quickly as when a prospect realizes there IS no urgency.
You see, plenty of marketers take note of how well coupons work to boost their conversion rates. So, the next thing you know, these marketers are distributing coupons CONSTANTLY, for all of their products.
You can bet prospects take notice. When they know that a new coupon is bound to come down the pike any day now, they delay their purchases. That’s because they’re waiting for the inevitable coupon.
Now on paper that sounds kinda, sorta like a good thing. People are buying because your coupon strategy works.
Well… maybe. But this coupon overuse creates these problems:
(It’s kind of like those jewelry stores that mark up their merchandise WAY UP, and then have perpetual sales. The “sale prices” are just the jewelry at the real price. Shoppers have become wise to those tricks, and they get turned off by anyone who tries to employ them.)
So the point is, this strategy is a LOT more effective both in the short term and the long term if you use it sparingly. When you distribute a coupon code, you want your prospects to realize it’s a RARE event, which generates that sense of scarcity and urgency which boosts sales.
Spread the Codes Across Your Niche
Obviously, one of the keys to big sales is to get your coupon codes in front of as many targeted prospects as possible. And you need to do it quickly, as your coupon codes probably expire in a short amount of time (e.g., three days, five days, or some other relatively short amount of time).
Here’s what you need to do to spread the word and build excitement around your sale:
TIP: To spread this coupon even further, give people an incentive to share it. For example, you can give people free access to a related product if they share the code on social media. (You can use a tool like SocialShareMonkey.com to automate this process.)
And here’s the last tip for boosting conversions with your coupon strategy…
Use Countdown Timers
The whole reason that coupon codes work so well is because they create urgency. Now you can take this urgency to the next level by displaying a countdown timer next to your coupon code.
For example, when someone comes to your sales page, just display the coupon code and a countdown timer in notification bar. You’re sure to get a flurry of sales, because nothing puts the pressure on like seeing how little time there is left to take advantage of a great sale!
Distributing coupon codes works really well to boost your sales … just as long as you use your coupon strategy the right way! This includes using the strategy sparingly, distributing the codes far and wide, and employing countdown timers embedded in notification bars to make the offer even more scarce and urgent.
The good news is that you don’t need to have any technical background in order to use countdown timers inside notification bars. If you can point and click, then you can set this feature up on your own site in as little as two minutes. Find out how at www.conversiongorilla.com