5 Ways to Set Up Promo Codes for High ROI

If you are not using Promo Codes for your e-commerce business, then you are missing out on a great chance to boost ROI. Here are five ways to make promo codes work for your online shop or business.

Consumers love freebies and it is possible to capitalize on this to market your brand. Promo codes are alphanumeric codes that are generated electronically and can be used to redeem a discount, gift or a deal.

Promo codes are invaluable to your business in a number of ways. It helps increase your online following as more users get lured by the promotion. You get to raise brand awareness and boost customer loyalty through the promotion codes you give out. These codes can motivate shoppers or online followers to participate in a survey, go to your online or offline point of sale, or subscribe to online services such as newsletters.

Making use of promotional codes can be a game changer for your business if you use them the right way. Fortunately, we are going to show you how.

1. As a one-off discount

You could set up a one-time promo code offer to lure shoppers or new followers to your business. Shoppers or followers have to register to your service in order to activate the gift code. It could also be a one-time offer to purchase a flagship product at a discounted price.

2. As incentives to a specific group

As a business or online influencer, you could use a promo code to reward your loyal shoppers or followers. An online shop could reward a few loyal customers who are frequent buyers or signed up to a premium service. Influencers could use promo codes to gift those followers who constantly engage with their content. Another option is setting a limit of say 100 promo codes to the first 100 people who show up for the promotion you are running.

3. A Reward at the end of a survey

Promo codes are often used as an incentive to take a survey. A survey is a great tool for gathering customer feedback or understanding how shoppers or followers are engaging with your product, service, or online content. The promo code is rewarded after a customer or follower successfully completes a survey.

4. As a gift after purchase

Besides completing surveys, promo codes can be used for enticing customers to make purchases. Just like the end-reward of a survey, the online shopper is rewarded with a discount code after successfully completing payment on a product or service. Most e-commerce businesses use promo codes to push sales on specific products or services.

5. Threshold promotion

Promo codes can be used to entice customers to buy more products. A threshold promotion is where a customer receives a gift or discount code after checking out a certain amount of products on their online cart.

You could offer a promo code when a customer purchases at least 5 items from your site or refers 10 friends to your promotion who become new customers.
Promo codes are an inexpensive way of pushing your brand forward and raising ROI. As a startup or online influencer, promo codes can help you increase sales, gather customer data, or even say ‘Thank you’ to your loyal shoppers or followers.

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