DOWNLOAD & SAVE THIS POST >> CLICK HERE <<

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…

Coupon_Strategy-1

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:

  1. Some of those people who delay their purchase while they wait for a coupon won’t ever come back to buy. One of the big rules in marketing: get your warm prospect to buy RIGHT NOW, because if they leave your sales page it’s unlikely they’re return. And that includes while they’re waiting for a discount coupon. In the meantime, they might just find themselves another attractive offer and buy from your competitor instead. Ouch!
  1. People stop buying your product at the full price. In other words, in order to make any sales at all, you need to offer a coupon. People will stop buying at full price. And suddenly, people aren’t even sure if your product is worth the full price, because it’s always discounted.

(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.

Next…

Coupon_Strategy-2

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:

Build anticipation for the sale.

The day you release the coupon code should NOT be the first day your prospects hear about it. Instead, you should begin building anticipation for three to seven days in advance, so that people are “warmed up” and ready to buy as soon as the coupon code goes live.

Advertise your codes.

You’ll start by telling all your existing platforms about your offer, including your newsletter subscribers, your social media followers, and your blog readers. Then you can move onto advertising your codes in other ways, including:

  • Encourage affiliates and joint venture partners to distribute the codes. You can make this strategy even more effective by running an affiliate contest during the same time period as you’re running the coupon sale.
  • Take out paid advertisements. This includes advertisements on niche sites, as well as ads through sites such as Facebook and Google AdWords.
  • Post your coupon codes on “coupon sharing” sites. These Facebook groups and niche forums are full of people who are looking for a great deal.

And finally…

Encourage others to share your codes.

Some people naturally share coupon codes whenever they encounter them. They’ll share them on the coupon-sharing forums, as well as directly with their friends on social media. However, you can boost the number of shares simply by presenting a call to action.

E.G., “Know someone else who loves saving money? Make their day by sharing this code with them now. But hurry, offer ends [date]!”

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…

Coupon_Strategy-3

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!

Parting Thoughts

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

To learn still more about other ways to boost your conversions, grow your list and generate more sales, check out this awesome blog post: “The 7 Secrets of Boosting Conversions and Sales”

Jeremy Gislason

Co Founder at Promote Labs Inc
Co-Founder of Promote Labs, Inc. Entrepreneur, investor, online business owner and marketer, philanthropist, avid reader, movie buff, outdoor nature lover of life, travel, family, friends & good times.

Latest posts by Jeremy Gislason (see all)

DOWNLOAD & SAVE THIS POST >> CLICK HERE <<