Five years back, “coupon” was a dirty word to many online retailers. While coupons and discounts were viewed as necessary, they held a negative undertone.
Today, things are different. Discounts and coupons are reliably utilized by retailers and are currently seen as an effective tool for driving sales.
But what changed?
As a shopper, you get a clear, financial advantage. As a retailer, coupons boost shoppers to purchase, create brand loyalty, and enable you to easily diversify your promotional marketing.
In this post, we’ll cover:
- How to use coupon promotions to drive sales
- How to create coupons in Builderfly to fit your promotional needs
- How and why you should control coupon distribution
Let’s get started!
Types of discount promotions to run on your Builderfly store
Free Shipping
Free shipping is the main sales driver throughout the year. More than 73% of online shoppers expressed that free shipping is the #1 criterion for making a purchase. Free shipping is an offer that appeals to most shoppers and can essentially increase sales conversions.
Who should use this offer?
Shipping cost is mainly based on weight and size which means that every business will have variances in the shipping cost. If free shipping works with your cost structure and margins then look to utilize it in your ecommerce marketing plan. If the cost is simply too high, there are a few different ways to make it work for your business.
Threshold Promotions
A threshold offer is a promotion that is just accessible if the shopper has a cart size higher than a specific threshold. This can boost more sales and increase order sizes. A study by Harris Interactive and UPS found that nearly 39% of customers would buy enough to get free shipping.
Who should use this offer?
It can be hard for some businesses to offer sales promotions without it digging into profit margins. However, by utilizing thresholds, most brands can offer a free shipping or discount promotion such that benefits their business. For businesses that need to run promotions, however, have low-profit margins, threshold promotions are the best approach.
Percentage-Based Discount
The most widely recognized approach to offer a discount is with a percentage-based discount. Online retailers utilize small discounts, larger discounts (15-25% off) as incentives to purchase a product. It’s additionally common to see brands discount half or more to clear out old and excess inventory.
Who should use this offer?
Discounting can and ought to be used by all retailers, however in various ways. If your business has high-profit margins then you can afford to offer higher discounts of 15-25% off and discount more as often as possible. With low-profit margins and higher-end brand appeal, hope to offer smaller discounts or less frequent sales advertisement. If the excess inventory is hindering you then get rid of it with clearance discounts!
Creating coupon codes on Builderfly
Generally, you’ll be running sales promotions on your Builderfly store through coupon codes. Builderfly provides an extraordinary framework that enables you to create codes that can be utilized in certain situations.
Types of promotions you can run:
- Percentage Discount
- Free Shipping
Under certain conditions:
- All orders:Coupon code applies to all orders
- Orders over:The discount implies to orders over a set average value
- Collection:The discount implies to a selected collection of items
- Product:The discount put on a selected product
- Product variant:The discount implies on a selected product variant
- Customers segment:the discount put on a selected group of customers from your all customers
Usage Limits
Builderfly gives you a choice of how frequently a specific coupon code can be utilized. Select from unlimited, a particular number, or limit one use per customer.
Date Range
Make promo codes that will only be valid during certain date ranges. This empowers you to set up holiday and sale promotions effortlessly.
Take control of your coupons
When utilizing coupon codes, it’s in your best interest to control the distribution of the codes. Two of the most compelling motivations for cart abandonment are price shopping and coupon hunting. If you can offer a coupon on your site, you kill both of those issues.
Distribute coupon codes with on-site promotions
The simplest and best approach to drive sales with your Builderfly coupon codes is using the on-site promotions. Think email pop-ups, exit pop-ups, and sales banners on the cart page. You have control over your discounts and coupons, so use them in your promotion campaigns!
