A recent survey of 80% of shoppers by RetailMeNot found that two-thirds of consumers had made a purchase based solely on a promotional code. Another 66% were unsure of whether they would buy something based solely on a coupon. Clearly, the benefits of using a promotional code are numerous. Listed below are some of the best reasons to use a promo code. Read on to discover the most important ones to make your online shopping experience more enjoyable.
Increase the customer lifetime value
A simple way to determine the lifetime value of a customer is by dividing the number of purchases by the average gross margin. For example, if a customer spends $50 on a product, they are worth $600. Therefore, a macys promo code could increase that value by 50%. You can also find out the frequency with which the customer purchases, by dividing the number of purchases by the number of unique customers over a year.
Among the ways to increase the lifetime value of a customer is to increase the number of times they visit the site. A common practice is to offer discounts on products or services that a customer purchases. A higher-order value indicates that the customer is likely to return. If your customer makes several purchases in a single visit, you should consider introducing a loyalty program. Such a program will allow you to track customer activity and improve customer retention rates.
Attract new customers
Using a promo code to attract new customers is an effective way to boost sales. Regular promotions keep customers interested and reduce cart abandonment. Exclusive coupon codes also help you convert visitors into paying customers. You can promote these codes on various sites and emails, and you can even highlight them on your social media accounts. Attracting new customers with online shopping is no easy task, but it’s worth it in the long run.
Increase brand loyalty
Using a promo code to encourage repeat purchases can lead to higher sales and better customer retention. According to a recent study by CouponFollow, six out of ten consumers will use a promo code if they buy something in a store. While this may seem counterintuitive, many people actually enjoy using a promo code and are even willing to recommend it to friends and family. In fact, 67 percent of consumers who use a promo code are likely to recommend a brand that has a good loyalty program.
If you can afford to do so, offer regular sales to keep customers coming back to your store. A discount coupon at the end of the season, for example, will help keep customers coming back to the store. A monthly sale, on the other hand, will encourage existing customers to buy more. And, regular sales can also help you gain new customers. People often wait for a sale to buy something, so making regular offers to these customers is a great way to maintain their loyalty.
More than 76% of online shoppers would rather receive personalized experiences than those with generic advertisements. By personalizing the shopping experience, you can provide better customer service, celebrate milestones and introduce a customer loyalty program. And what’s more, your customers will appreciate this. Here are some of the benefits of personalization. To get started, create an online shop and promote a promo code. It’s a simple and fun way to get customers to shop with you!