Tips for Online Coupon Success

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People enjoy the feelings of being treated as special and receiving bargains.  This thrill of the hunt is a financial benefit to both the customer for cost-saving purposes and to the vendor for moving inventory.  Those businesses that carry e-commerce sites but do not currently post coupons are definitely neglecting opportunities for making more money.

For readers thinking, “But Nicole, my margins are just too tight to support coupons,” there is a simple response:  Try raising prices in combination with an intensive coupon offer.  Listed below are some tips to initiate the process:

  • Always use expiration dates.
  • When using a code, use one that is easy to remember like “December10,” “GROUPON2010,” or BEACON_ROCKS.”   A code like “TX24586L” just does not have a ring to it and is difficult to remember.
  • If the item is less than $100, use a dollar-off amount.  If it is more than $100, offer a certain percentage off.
  • If there is a wide selection of merchandise, make the coupon more generic by offering money off of the cart.  By only offering a discount on a particular item, new visitors to the site will not spend as much time browsing all of the products actually have available.
  • Create unique offers for different sites to make members have a feeling of exclusivity.  Besides, many sites, such as Foursquare, require a unique offer.
  • Always push free shipping.  If shipping is $5.99, it is better to charge $16 for an item and provide free shipping than to charge $10 and require shipping.  While the price is identical, offering free shipping evokes more appeal.
  • Allow coupons to be stackable.  The goal is to move as much product as possible, so be open to the possibility, and let customers believe they are getting an advantage.

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