WooCommerce coupons and discounts have a proven track record of driving sales, attracting customers, and increasing loyalty. Coupons and discounts drive repeat purchases by encouraging customer loyalty through exclusive offers. You can clear excess inventory, promote seasonal sales and campaigns, and enhance customer satisfaction by offering discounts and thereby differentiating your store from competitors.
Why Offer Discounts and Coupons?
Discounts and coupons are powerful tools for online stores to increase sales, drive traffic, and attract new customers.
Increase Sales
Customers who see a discount are more likely to make a purchase because they know that they can grab the product at a low price for a limited time.
Drive Traffic
Discounts can also help to drive traffic to your website. When discounts are offered, individuals are more inclined to share these offers with their friends and family, thereby helping to spread awareness of your store.
Attract New Customers
When people see a discount, they may be more likely to try your store for the first time. Discounts can also foster customer loyalty, as individuals are more inclined to become repeat customers when a store consistently offers them enticing deals.
Types Of Offers, Discount Coupons, and Deals
Bundled Discounts
Increase your sales volume by offering products in bundles or packages. When introducing a new product, bundled discounts can effectively familiarize customers, encouraging purchases they may not have considered before.
Fixed Price Discounts
eCommerce shops often utilize cash discounts to leverage the principle of urgency, as these reductions are typically available for a limited time. You can motivate customers to make prompt purchases by offering time-limited cash discounts.
Value-added Offers
Enhance the customer experience by providing value-added items, such as complimentary gifts, alongside their purchase, without reducing the product’s price. These value-added offers can include complementary items or repurposing slow-moving inventory as freebies. Alternatively, you can offer a free service to enhance customer satisfaction further.
Free Shipping
Although faster delivery times are gaining popularity, many buyers still appreciate the option of free shipping, even if it means a longer wait. Consider offering free shipping for orders exceeding a certain amount, such as $100. Feel free to customize this threshold based on your store’s needs to provide added value to your customers.
How to Use Coupons and Discounts Effectively to Drive Traffic?
There are numerous options available for utilizing offers, coupons, discounts, and deals. However, we will explore the most efficient and optimal approaches to employing discounts and coupons to drive traffic, foster customer loyalty, enhance engagement, and boost sales.
1. Flash sale offers
You may have encountered phrases like “Only 5 hours left! Get the products at a 20% discount” online, which are examples of flash sales.These offers are usually time-limited, spanning from a few hours to a maximum of 24 hours. By leveraging the concepts of scarcity and urgency, these sales motivate users to take immediate action.
2. Email subscription offers
The flash sale strategy is gaining popularity among store owners to grow their email lists. A common implementation involves incorporating an opt-in form, such as the one below, where the brand offers a coupon for a 10% discount in exchange for users signing up for their newsletter. This approach lets store owners entice potential customers to join their newsletter by providing an attractive incentive such as a discount coupon. This helps expand their email list and enables them to maintain regular communication with subscribers, promoting future sales and fostering customer loyalty.
3. Coupons for first-time buyers and existing customers
One effective tactic many online stores employ is offering coupons with attractive discounts specifically tailored for first-time customers. To maximize the visibility of these offers, you can configure an exit intent popup that displays the coupon just as visitors are about to leave your website.
4. Create ”Buy One Get One Free (BOGOF)” coupons
It is common to encounter situations where certain items underperform or fail to meet expectations. This becomes problematic when dealing with physical products as you are left with merchandise occupying valuable space. A practical solution is to create bundles that include these less popular items and pair them with better-selling products using coupons. By employing this approach, you can enhance the appeal of your high-margin items while clearing out unwanted inventory.
Bundling allows you to offer customers a package deal that combines desirable products with lower sales performance. Using coupons to promote these bundles creates an attractive incentive for customers to purchase the bundle, thereby increasing the chances of selling both popular and less popular items.
This strategy not only helps improve the overall performance of your inventory but also enables you to maximize profits by leveraging higher-demand products. It allows you to effectively manage your inventory while offering customers a compelling deal that adds value to their purchase.
5. Exit intent offers
Exit-intent bids can effectively convert users about to leave into successful buyers. By implementing a popup that triggers when a user attempts to exit the site, you can present them with a compelling offer encouraging them to purchase the product.
By utilizing this tactic, you can capture the attention of users who may have otherwise left without completing a purchase. The key is to leverage the exit-intent popup to deliver a persuasive message or incentive that addresses their hesitations and motivates them to take action before leaving your site.
6. Category-based discounts
An effective discounting strategy involves setting product discounts based on product categories or subcategories. This valuable approach can boost sales across various categories and subcategories.
By implementing this strategy, you have the flexibility to promote and increase sales of trending products. It is possible to extend these discounts to all customers or selectively offer them to specific customer groups based on their user roles or other criteria.
How to Add WooCommerce Coupons and Discounts?
To add WooCommerce coupons and discounts to your online store, follow these step-by-step instructions:
- Log in to your WordPress dashboard.
- Navigate to the WooCommerce section and click on “Marketing” in the sidebar menu.
- From the dropdown menu, select “Coupons.”
- You will be directed to the coupon management page. Click on the “Create your first coupon” button or the “Add coupon” button if you already have existing coupons.
- Fill in the necessary details for your coupon.
Summary
Coupons and discounts effectively drive sales and attract customers, but they also play a crucial role in building customer loyalty and generating more conversions for your online store. By strategically utilizing these promotional strategies with an expert providing WooCommerce development services, you can enhance customer engagement and create a sense of urgency that motivates customers to take immediate action.
