Small Business Coupon Ideas

Posted by Ian Brooks

Offers, coupons, deals, and discounts. When the time comes, the majority of online retailers will have to choose whether to provide discounts, when to offer them, and how much they should be worth.

Discounts can be a potent tool in your conversion armory for increasing client loyalty. However, if utilized carelessly, you risk seriously harming your brand or, even worse, losing money.

In this article, we’ll discuss some discount code strategies you can use to increase client loyalty and conversions and the best ways to apply them.

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18 Ideas for Coupon and Discount Codes for Online Stores

Sales, offers, discounts, and deals can be used in a huge variety of ways to increase client loyalty, acquisition, and conversion rates. The most well-liked choices are shown below, along with illustrations for each.

1. Discounts for the week/month

These are standard sales that encourage conversions. These sales are frequently employed towards the conclusion of a month or quarter to boost revenues and achieve company objectives. At the conclusion of a quarter or season, weekly or monthly discounts are fantastic to use, especially if you need to sell off seasonal stock to make room for new products.

Best practices and advice:

  • Create a sense of urgency about running out of supply by using an app that counts down the days.
  • Offers for BOGO and product bundling might sweeten the purchase.
  • Stress the “last opportunity” aspect of the offer to create a sense of urgency.

2. Prelaunch promotions

You may utilize prelaunch deals to boost traffic and stir interest while your firm is still in the prelaunch phase or even when you’re introducing a new product. This will help you convert new consumers into devoted ones. Pre-launch promotions are excellent for advertising new products or establishing your brand before the opening of your store.

Best practices and advice:

  • Obtain email addresses from clients so you can update them when the launch of your product is approaching.
  • To provide your first group of buyers early access to your new product, use a pre-order app.

3. Deals for the season and holidays

The busiest shopping time of the year is during the holiday season, which includes Black Friday and Cyber Monday. When customers are most eager to purchase, special holiday deals are timed to raise the average cart value.

Best practices and advice:

  • Around this time, individuals frequently purchase gifts for other people, so even if you offer items intended for a certain market (like toys for children), you should still target those consumers (in this case; parents)
  • Since consumers prefer unique presents, distinctive and novelty products stand to benefit the most from this type of sale.

4. Discount for abandoned cart

Abandoned cart email offers can be a potent strategy to entice customers back since over 70% of all visitors abandon their carts. Sending abandoned basket emails with a discount code or exclusive offer can be a terrific method to make up for these missed sales.

Best practices and advice:

  • Personalize your abandoned cart emails by including your consumer’s name and the item they abandoned in their cart.
  • Include a call-to-action (CTA) button to make it simple for your customers to go back to their cart and finish their purchase.

5. Offer for email or newsletter subscription

For internet shops, creating an email list is crucial. Your chances of converting visitors into customers are increased by making an incentive in exchange for their email addresses. You also receive their email, giving you the chance to get to know them better, win their loyalty, and promote to them in the future.

Best practices and advice:

  • Provide customers with clear information about what to expect from your email, such as “Receive special deals and be the first to learn about our newest goods.”
  • Include sharing options in your newsletter so that readers can tell others about your company and products through email and social media.

6. Rewards for sharing, loving, and following on social media

Spreading the word is one of the most difficult aspects of operating a new online store. Giving visitors and customers a reason to recommend your store to their social networks can be a powerful strategy for generating low-cost word-of-mouth referrals.

7. Referral coupon

If a friend or family member recommends you to someone, they are significantly more likely to make a purchase from you. Utilize offers to promote referrals and take advantage of this. You have the option of offering a bargain to the individual making the referral, the person being recommended, or both.

8. A discount for new customers

If your brand is unfamiliar to many potential customers, they could be reluctant to make a purchase from you. Offering a special deal to first-time visitors can be just the encouragement they need to become paying customers.

Best practices and advice:

  • A pleasant initial experience is essential to making the most of this kind of discount, so make sure that the customer’s product is promptly sent after the purchase has been made.

9. Discount for minimum purchase

An excellent upselling and cross-selling strategy to get customers to spend more money and raise your average order size is to provide an offer based on the total amount in the shopping cart. Calculate the average order amount over the past few months for your online store, and then strategically give a discount or free delivery on any order that is 10% to 20% above that normal order value.

For particular collections and products, you can also provide discounts for minimum purchases. Try providing a minimum purchase discount to encourage your audience to focus on a specific collection if you want them to.

The most advantageous products from this type of discount are those that need to be replaced or refilled since buyers will want to act swiftly to take advantage of a discount that might not be accessible in the future.

10. Special social deals

Creating exclusive deals for your followers on social media can be a terrific strategy to increase client loyalty. Additionally, by giving new users an incentive to follow and subscribe to your social media accounts, you’ll be able to promote to them in the future.

11. Discounts for regular customers

By rewarding customer loyalty and limiting discounts to those who have already made purchases from you, you may create an even stronger link with your clients. With Shopify, it’s simple to create discount coupons that are only available to particular consumer demographics.

12. Exit-intent offer

An offer made right before a visitor leaves can sometimes be enough to convince them to become a client. When a visitor is about to leave your website or close the tab, an exit-intent offer will appear and make them one last offer to buy.

13. Retargeted advertising

Retargeted offers are successful because they are only displayed to visitors who have already visited your website. That implies that they are aware of your identity. The advertisements act as a call to action to visit again, and the deal acts as a prod to make a purchase.

14. Influencer offers (bloggers, celebrities, etc.)

Creating partnerships with well-known figures that have sizable followings is a fantastic approach to spread the word about your company. And you’re more likely to convert their admirers into customers by making an exclusive offer to the influencer’s network.

15. Offers for online purchases

Consider offering incentives for online purchases if you want to increase online sales. You may increase online conversions by providing something in exchange, whether your goal is to expand your consumer base outside of Amazon or use your ecommerce site to complement your brick-and-mortar sales.

16. In-person purchase coupons

With deals, you can promote in-person sales just like you can promote online sales. If you have a physical location, you can do this there or at live events like festivals, fairs, expos, trade exhibits, etc.

17. Offers to attend events

You can give discounts or freebies to participants of events you hold in person or online. These reductions may be given before, during, or after the event. This encourages stronger client loyalty and helps to maintain the relationship with interested customers. Additionally, it’ll probably boost attendance for your subsequent event.

18. Discounts for customer milestones

Customer milestones are particularly significant if your business runs a customer loyalty program. These anniversaries or birthdays could be special occasions for the client personally. Other achievements might honor the bond you’ve developed with your partner. These would include the anniversary of the customer’s first purchase or the date they signed up for your customer loyalty program, spending a specific amount of money, making a specific number of transactions, or engaging in various brand-related activities.

Let’s examine some of the most typical:

  • Discount depending on a percentage
  • Dollar-value reduction
  • Free delivery
  • unpaid gift

In Shopify, each item them can be sold using one of two different kinds of discounts:

  • Automatic reductions
  • coupon codes
  • Discount depending on a percentage

Percentage-based discounts are one common type of discount.

This can include lower incentive percentages, like 5% or 10% off, higher discounts, like 20% and 25%, to truly drive sales, or major percentages, like 50%+, to dispose goods that are out-of-date or aren’t moving. In Shopify, you can also quickly apply these savings across a variety of collections, items, and locations. You can also condition your promotions on a certain purchase, such as “Buy two sneakers, get 50% off any sweater.”

Dollar-value reduction

Offers with a dollar value can be presented as a credit. People feel as though they are wasting money if they don’t use it because of this. To maximize the impact of one of these, combine it with a minimum purchase requirement, such as “Spend $200, receive $20 off.”

The “rule of 100” is a simple tip to remember when choosing between a percentage or set amount discount for a certain product. Use a percentage discount if your item costs less than $100; if it does, use a set value discount. The highest perceived value for your clients will arise from this psychological trigger.

Free delivery

One of the main causes of shopping cart abandonment is shipping fees. Free delivery is an excellent approach to reduce this and boost conversions.

Increase your average order value by combining free delivery with a minimum purchase requirement, which you can do in Shopify by configuring the shipping setting. To maximize the value of your offer, you may even pair your free shipping promotion with other seasonal sales, like a 20% discount voucher for email subscribers.

Unpaid gift

Giving clients a complimentary present with their purchase is a fantastic way to add value to their experience. It can also be deliberately employed to raise the average order size and/or get rid of inventory that isn’t selling. When implementing a Buy X, Get Y discount in Shopify, you may specify a minimum purchase condition or a volume requirement to offer a free gift for orders above $200 or if a customer buys 5 items.

Automatic reductions

Every qualified cart receives automatic discounts, which consumers can see on the cart page before proceeding to the checkout. It’s a terrific method to run an all-product, all-category, or store-wide campaign without requiring your customers to enter a promo code.

By omitting the code, you can speed up checkouts and encourage more orders. In September 2019, American customers who began the checkout process on Shopify with a discount already applied were 25 seconds faster than those who did not, increasing their likelihood of placing an order by 1.8 times.

Additionally, customers don’t need to leave checkout to look for a discount code or email you if they can’t find the code you sent when a discount has already been applied to their basket. All of this translates into a more seamless experience for your clients and perhaps improved conversion rates for you.

Coupon codes

When checking out, your customers can redeem a particular deal by entering discount codes. They’re a tried-and-true method of giving discounts to the correct customers, whether that group is your entire email list or just a particular subset like new subscribers or loyal clients.

You may track the success of your marketing initiatives by using coupon codes. It may be simpler to observe the relative impact on sales if you run different advertisements under different discount codes.

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