Use Discount Codes and Coupons Wisely to Increase Your Ecommerce Revenue

Use Discount Codes and Coupons Wisely to Increase Your Ecommerce Revenue

Discounts and coupons are often associated with specific times such as New Year’s Eve or Mother’s / Father’s Day, but when applied wisely, they can be used year-round to help you generate consistent income for your store.

Using the tips in this post to apply discount codes and coupons in your online store can help you increase your revenue.

1. Retargeted ads

You can use Facebook and Google Pixel to create retargeting ads and campaigns visible to users who have visited your site before but have not made a purchase.

Thus, you can try to increase conversion rates by offering brewdog discount code and campaigns specific to this audience.

2. Collaborations with Influencers

Consider identifying influencers that may be relevant to your business and establishing collaborations and creating custom reference codes for them.

They can also share these codes with their followers on their blogs, websites, or social media accounts. You can think of it as a kind of sponsorship deal that will help you increase your credibility and attract a new audience to your store.

3. Discounts for Purchases Made in Your Physical Store

If you have a physical store next to your online store, consider offering a discount code for purchases made there as well.

This helps you promote your physical store and increase offline sales. Thus, you can create opportunities to attract more local customers.

4. Discounts Specific to Loyalty Programs

Consider offering discounts or rewarding customers when they reach a certain level in your loyalty program. You can offer a discount code or reward when they reach a certain number of points or spend a certain amount of money.

You can perform similar practices on birthdays, the anniversary of the date of signing up for your loyalty program, or any other important date in the customer journey.

In addition to the benefits, you offer with the loyalty program, making discounts at certain times helps to increase customer loyalty, which can increase sales.

5 Tips for Adding Online Shopping to Your Business and Increase Sale with Discount Codes

If you want to add an e-commerce option to your business in addition to your physical store, consider the following tips.

1. Decide which Products to Sell

Before you start offering online shopping features, determine exactly which products you plan to sell online.

If you already have an inventory of products, you can use historical sales data for your business to decide which products to sell online. Think about which products perform best in your store and feature them in your online store as well.

Another issue to consider when choosing products to be offered online is whether there is a targeted product or service that meets current needs.

If not, try thinking of products or services that you can quickly produce and provide.

2. Choose e-commerce Platform and Domain Name to Offer Online Shopping Feature

After choosing a domain name that is compatible with your brand and the name of your business, it’s time to choose a platform.

Various e-commerce platforms have features that enable businesses to upload products, customize the customer experience, streamline the order process, and manage other areas directly related to online shopping.

If you are a web developer or have a team that can create an e-commerce store from scratch, this is much better.

Creating a custom e-commerce store for your business not only gives your business more flexibility but also saves you from paying a monthly fee to use another service or software.

If you already own a WordPress website, you can add an online shopping feature to your website by integrating the WooCommerce plugin.

If you don’t already have a WordPress site, you can try the GoDaddy Word Press E-Commerce Hosting plan, which speeds up the e-commerce site setup process by 70 percent with its Woo Commerce integration ready.

3. Make Inventory Management the Focus

All business owners who sell products are well aware of the concept of inventory management. All product transactions are collected, sales are made until the remaining inventory of that product reaches the minimum value, and then a new order is placed.

Businesses that practice good inventory management can increase product turnover, meaning their products won’t stay on the shelves for a long time.

If you haven’t sold your products online before, it can be difficult to measure potential demand.

Gradually add products to your e-commerce store to get a better idea of ​​the demand your business will receive online. Also, don’t be afraid to say “no”, when a product is out of stock, make it clear.

Expert advice: You don’t have to sell all the products you sell in your physical store in your online store.

In fact, in the current state of the market, it is a better idea to have fewer selections of products targeted for online shopping.

If you do not choose carefully which products to offer online, you may end up having more orders than your current inventory. Delivery delays can also lead to a bad customer experience.

4. Make the Most of Your Supply Chain Partners

Inventory management is about your supply chain partners as well as your data and order management skills. Most businesses have a simple supply chain from raw materials to product production and from production to distribution.

This chain is usually:

Manufacturer – Those who take the task of purchasing raw materials and producing products

Distributor – Those who carry products to your business

Retailer – Your Business

Customer – Buyers and users of products

Integrating online shopping into your business requires a new supply chain process. Because instead of customers who buy products directly from your store, you need a distributor that delivers the products to your customers.

By comparing different solutions at every stage of your supply chain, you can get the most out of your supply chain partners.

However, keep in mind that in the current economic situation brought about by the COVID-19 pandemic, you will need to be flexible as your options may be somewhat limited.

Optimizing each channel in your supply chain is important, but when you find a good platform you work with within that chain, it’s also important to try to retain it.

The partner replacement process can be challenging, expensive, and detrimental, so try to keep the turnover to a minimum.

5. Digitally Market your Products with Online Shopping

Selling on the Internet is like selling in-store. The more traffic you have, the more your sales will increase.

When creating an e-commerce store, consider how best to market your products.

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