Exactly why a voucher offer can help your business
The rise of voucher codes in online transactions has been quite incredible. Over the last few years they have increased in popularity and they’re seen as a great way for a business to convert a customer.
There are many ways a voucher can work.
You can offer a voucher discount to people that subscribe to your newsletter.
You can offer a discount on a second order
You can offer a discount on an order quantity over a set limit.
You can offer a free delivery voucher.
You can provide a set discount that varies based on how much is spent eg: £10 away from £100 spend, £20 off £200 spend.
You can offer a discount for everyone and advertise this on other websites. There are many voucher websites available. Some charge for a listing however, many don’t.
There can be various issues with a voucher code for your business that you need to consider.
Is it profitable to give the discount? If it’s damaging to your business figures then you might need to reconsider the straight-forward voucher offering and think about using a second order voucher, that encourages repeat business giving you more chances to shine with the consumer. Adding a minimum order amount to the voucher offer is often a good idea.
Expiration date – many companies provide open-ended vouchers, but you need to consider whether this is a good idea, or whether it’s best to re-assess the voucher offer a few months down the line and perhaps change the conditions and terms. Having a new voucher offering regularly is something you can share with customers in a newsletter and get repeat company on.
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Terms and conditions – make sure these people clear and you’ve thought all of them through properly. Is there a minimum purchase? Is there an expiry date? Would it apply to all products? Does the particular discount apply to delivery too? Is it easy to understand? Money off as a number rather than a percentage can be easier for people to understand.
Increase in sales – when the voucher gets listed by a newspapers or other media source that has a huge readership then will your organization cope with the extra demand? If you obtained an extra 100, 000 orders over night would your staff be able to deal with that? Getting bad service because of over demand could damage your company. A way round this is to issue individual vouchers for customers by email and ensuring your system allows the voucher to be used once only.
Improve sales whilst increasing prices : A voucher can help you when you want to increase your costs. You could offer a price cut code to allow people to buy at the old price for a limited time.
Some sample terms and conditions you might want to think about for your voucher:
– 20% price cut on cheesemonkies at Cheesemonkey Vendor website until 31st December 2010.
– Applies to full price Cheesemonkies just, does not apply to any sale items.
– Discount does not include shipping charges. Offer valid for initial 10, 000 orders only. Lower price can not be applied to gift vouchers. Cheesemonkey Seller reserves the right to end any vouchers at any time. The coupon is redeemable online only and may not be used retrospectively. The voucher can not be combined with any other discount program code available for the Cheesemonkey seller website. The voucher can only be used once per household.
Implementing the discount vouchers – you’ll have to discuss with the person who handles the technical side of your web site whether you can add a voucher within. There are systems such as Smart Vouchers that allow custom e-vouchers to be created for users. Services on offer like CouponPress, Smart Vouchers, and there are various more for specific shopping carts.
Benefits of using a generic sharable coupon code – You should be able to get a site listed on many of the voucher sites. Customers may share the code with their friends, post it on their profile pages on social media or tweet it. They will include a link to your site so you’ll get even more inward bound links. This should improve your site ranking and traffic. You are able to approach related niche site owners to see if they will list the code too.