HOW TO EFFECTIVELY USE PROMO CODES TO BOOST YOUR SALES

HOW TO EFFECTIVELY USE PROMO CODES TO BOOST YOUR SALES

As personalization becomes more integral to marketing to customers, savvy businesses are looking at ways to apply this approach to coupons and discounts. In separate research, it’s been shown that planned discounts generate higher revenue for retailers than everyday low pricing. Using the latest technology, brands can deliver a deal specifically targeted to a customer’s interests.

Here are a few ways your business can use personalized discounts to help increase your sales.

Targeting: First, you can experiment with different email list segmentations using customer data such as demographics, location, and transaction history to group those with common denominators. From here, you can send them with personalized promo codes designed based on what you know about them.

Retargeting: Retargeting services use cookies to track customers who show an interest in a brand. This code helps you follow customers and display your offer to them on sites like Facebook. This may be especially effective if a product a customer has viewed before suddenly goes on sale. Realizing the price has dropped, that customer may come back and complete the purchase.

Research: Experiment with the different types of offer to find out which promotion appeals to your customer base more. The result should be enough to determine the best strategy to use next.

Technology: Investments in data collection and related analytics are increasingly no longer a “nice to have” in big retail. A unique customer identifier, such as Digital Capture Research, can help a retailer gain insights into the customer’s journey and shopping patterns, and help understand a particular shopper’s browsing patterns.

Email Marketing: Using an email marketing automation platform with advanced features can help you send targeted, personalized promo codes to the right customers and at the right time to retain customers and acquire new ones.