The e-commerce space has become very competitive, with more new brands across the spectrum joining the race every day. On top of it, the decreasing brand loyalty among consumers has become a significant issue for the brands operating in this space. As a result, E-commerce companies must constantly devise new strategies to keep the shoppers interested in the brand and make the purchase. Coupons, discounts, and promotions are integral to a brand’s sales strategy. Whether the consumer continues to visit your store and shop depends on the kind of marketing strategies you have created. For example, a meticulously planned coupon marketing strategy will help companies acquire new customers to their fold and encourage existing customers to spend more. This blog will discuss various popular digital coupons that an e-commerce brand should introduce in its marketing initiatives to keep the customers hooked to their products with innovative incentivization methods.

Personalized Coupons

One of the top performing coupons is the ones that are personalized according to the needs and shopping behavior of the consumers. Research has shown that when a brand sends out a personalized coupon to shoppers, the redemption rate is significantly higher than the normal discount coupons sent out to everyone. This is because the customer feels valued and special on receiving the promotions crafted especially for them, thus more likely to redeem the offer. Besides a high redemption rate, this coupon also aids in forging a long-lasting relationship between the brands and the consumers.

Now or Never Coupons

For brands to get the maximum out of the coupons they have shared with their customers, they need to create a sense of urgency for them to act. According to various research reports, a time-bound coupon that needs the receiver to act promptly or within a limited time window has shown far more response rates than coupons where consumers have much time to act. In addition, time-bound coupons are a great way to convert tentative or uncertain customers to shop for the product and the brand.  The idea is to create a now or never mindset for consumers to compel them to act quickly in fear of missing out on the fantastic offers.

Coupons for Cart-Abandonment

E-commerce businesses around the globe have to face a significant issue when it comes to shopping cart abandonment. A considerable percentage of shoppers abandon their carts for many reasons, like looking for a better discount coupon, high shipping charges, slow checkout process, checking deals on another website, or leaving to complete the transaction later. With special discount coupons incentivizing the consumers who have abandoned their e-commerce shopping carts, brands can significantly decrease the abandonment rate and improve sales. For a shopper who has already discovered your website, explored the products on offer, and invested their time building the shopping cart, even a small incentive in the form of additional discounts can push them to make a purchase.

Influencer Coupons

Social media influencers have millions of followers who diligently track all their social media posts and follow them for tips and advice. What makes influencer marketing so successful is the connection between the influencer and their followers and the content they create, which is genuine and relatable. Hence, providing social media influencers with special coupon codes that they can share with their followers is a great way to increase brand conversion rates. Furthermore, creating unique coupon codes for each influencer the brands work with also helps track their performance while benefitting the brands with additional purchases.

Free Shipping Coupons

Consumers often drop out before purchasing in the online stores because of the additional shipping charges that the brands charge for delivering the products at their location. Sometimes these charges are minimal but go a long way in discouraging the shoppers from going ahead with the purchase. Therefore, brands should create coupons allowing customers to get the delivery without shipping charges on the minimum purchase value.

Coupons for Special Occasions

Brands should design and disseminate discount coupons to customers around special occasions and holiday seasons. Coupons personalized around birthdays, anniversaries, or special events with special value to the consumer tend to show great acceptance. However, brands should be mindful of not overusing coupons throughout the year. Customers would understand that this is a marketing ploy to get more people to shop rather than a genuine effort to appreciate your loyal shoppers.

Coupons for Holidays and Shopping Festivals

Brands need to chalk out a coupon strategy to leverage the top holiday and shopping seasons where they can reach out to the consumers with special discounts without sounding pushy. Big shopping seasons like Ramadan, Black Friday, Cyber Monday, Christmas, and New Year’s Eve are the best time for brands to design offers and promotions that sets them apart from the competition and attract the consumers to their stores. The key to leveraging the best of these seasons is planning early.

Coupon marketing is beneficial for brands as it helps them acquire new customers, increase brand awareness, and help to up-sell, amongst other advantages. In addition, it is convenient for brands to track the ROI of the coupons and understand the campaign’s effectiveness. However, although many coupon types can help brands achieve their goals, they should be mindful of not being overly dependent on just coupons, as it comes with disadvantages like dilution of the brand aspiration and novelty.