Online Coupons Can Attract and Retain Customers – Business News Daily

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Online shopping’s popularity has exploded in recent years. According to a 2021 CouponFollow report, online sales reached $861 billion in 2020, a 40% increase from 2019. And these consumers are more price-conscious and discerning than ever, proactively seeking ways to lower the costs of e-commerce shopping via coupons, promotional codes and other cost-saving measures. 
We’ll explain how online coupons work and how businesses that sell online can incorporate coupons into their loyalty programs to attract new customers, retain existing customers, and boost repeat business and referrals. 
There’s a vast online shopping audience ready and willing to spend money – if the deal is right. When your business offers online coupons, you can attract a significant customer base for the following reasons:
Once your business has attracted coupon-using customers, you’ll benefit in the following ways: 
Price-conscious consumers and coupon shoppers have the potential to bring serious revenue. Businesses that offer online coupons incentivize current and new customers to buy from them and potentially stick around and develop brand loyalty.
TipTip: It’s essential to be informed about the effects of coupons on your business. Coupons can attract new customers, but if you mishandle your coupon strategy, you can end up reducing revenue and disappointing customers.
Instead of cutting coupons from the newspaper or a store catalog, online coupons present a fast, convenient way for consumers to save money when shopping online or in a brick-and-mortar store. Two typical online coupon disbursement methods are barcodes and promo codes. 
Did you know?Did you know?: The first coupons offered in America came from Coca-Cola in 1887. They were handwritten flyers that entitled customers to one free soda.
There are many ways to distribute online coupons to your customers. However, each method’s effectiveness often depends on your current business model and target customers. Below are some of the most common and effective coupon marketing strategies to help you find one that works best for your business:
TipTip: If you’re contacting customers via email to share promotions and discounts, ensure you abide by online business laws that regulate email marketing campaigns.
There are many factors to consider when deciding what coupons to offer. Consider the following best practices for offering online coupons: 
Did you know?Did you know?: BOGO offers can be effective at driving sales. You can still charge full price for an item while lowering your stock levels, which is also great for effective inventory management.
You’ll need to consider several variables when choosing the best online coupon offer and format for your customer base. For example, which coupon offers will work best for your audience, and what’s the best way to get coupons into their hands? 
After fine-tuning your coupon strategy to entice customers without adversely affecting your bottom line, you’ll enjoy the benefits of offering online deals to current and first-time customers. With a thoughtful online coupon campaign, you’ll enjoy boosted sales, customer loyalty, repeat business and referrals. 
Andrew Martins contributed to the reporting and writing in this article. 

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