Coupons industry is big. Every service in the world can be purchased at a very reduced price if you wait for the right coupon code. The discount can either be a percentage or a specific dollar amount. Promo codes also provide customers with free shipping or gift-wrapping. This marketing strategy essentially gives customers yet another reason to buy your products. According to Microsoft, a promotional code, sometimes known as coupon code or discount code, is made up of a combination of numbers and letters. It’s used for specific purposes, such as a holiday marketing campaign.
What are the different types of promotional codes? There are three different types of promotional codes store owners can choose from.
Public codes – Anyone can see or use a public promo code. These are useful for enticing new customers and encouraging previous shoppers to come back for more.
Private codes – Stores use private codes to target a specific group of people. Commonly provided to loyal customers for special shopping opportunities, such as first-time shoppers, private codes are a good way to bring in new customers.
Restricted codes – A code that is restricted is targeted to a single user and can only be used once. For instance, you might send a customer a restricted code as an apology for a delayed shipment or as a thank-you for making their 50th purchase with your site.
Most people don’t think of promo codes and ROI together, but we disagree. If you’re not using smart codes to track the Return on Investment of your marketing strategy, you’re missing a trick! The beauty of promotional codes is that you can fit so much information inside them. It’s easy to generate QR codes and barcodes which are uniquely linked to each individual customer, for example. And you can use that unique information, together with data from the point of sale, to see exactly how customers are interacting with your promotions. Set up your campaign so that customers receive different codes, depending on how and where they download the code. Let’s say one customer spots your promotion on Facebook and downloads a QR code to their smartphone to use in-store. Another user clicks a link on your website, gets the code by email, and types it in at the online check-out. Those two customers have received two different codes. By tracing which codes they use, you can link customer profiles to the download method and shopping styles they prefer. You can even track the time between receiving the code and applying it to a purchase.
CCG (Coupon Code Group) offers coupon codes, promo codes, deals and promotional codes, which will offer a discount on products and services. Couponcodegroup.com is a user-friendly website that can provide you with your needs in coming up with quality coupon codes. CCG provides a wide range of discount codes for different categories and most admired online business categories such as Clothing, Beauty products, Health, Accessories and much more. Via electronic coupons, it is very easy to save money when doing a purchase of products and services. See more info on Shopping brand reviews.
Online merchants offer coupon codes as an incentive to shoppers to purchase from their website. Many online merchants do not offer the coupon code directly on the website you shop from, but instead will place the codes within affiliate programs or offer member-only promotional codes in email newsletters or retail blog posts. Some retail stores will include online order coupon codes in print advertising and other forms of business literature.
How Do Coupon Companies Make Money?
Online coupon distributors can leverage ad-placement services to sell advertising space on their websites. Online pay-per-click ad-placement services pay a certain amount to website hosts each time an ad is viewed, and even more when it is clicked. This business model can allow a coupon company to give away coupons for free, relying on sheer traffic volume to drive advertising income. This income strategy can be combined with others to create a more robust and complete coupon business model.
In addition to selling deals on an individual basis, coupon companies can sell coupons in bulk directly to consumers. Some companies sell physical coupon books, for example, charging a fraction of the total savings contained in the book but still bringing in enough money to cover printing fees and sales expenses. Convincing as many businesses as possible to provide coupons for the bulk product is essential to making this business model work.