How and When to Use Discount Codes
Discount codes can be a very useful method to attract new and old customers. However, it’s important to ensure discounting fits into your overall brand strategy.
Competing to become the “low-price” leader can have a disastrous effect on your business if you’re not careful. Sometimes, it’s wiser to forget lowering prices and better to focus your energy and time in providing outstanding service and a unique product experience.
In any case, running an online business is all about experimenting and finding out what works best for your brand. This article discusses some of the methods you can use discount codes to attract and delight your customers.
Prerequisite: But first, your online shop running on ecommerce Malaysia must be able to support this discount code feature.
Earn New Customers with Discount Codes
If you’re excited to make your first sale (or probably for a new product launch) and you’re more into testing the market than having rigid brand development standards, then here are a few ways to competitively go after new customers.
For your best selling items, simply tweet out discount codes and append a hashtag for the keyword or brand name that is associated with these items:
You may want to tweet out your discount codes a few times a week to get more attention. Be sure to edit your sentences so you’re not duplicating tweets.
You can now use hashtags on Facebook as well. But in order to get a better response, upload an advertisement along with a short message regarding the promotion.
How To Use Codes Without Harming Your Business
As the culture of discounting is developing online, that doesn’t mean discount codes can’t be used regularly. Here are some ways to cleverly implement discount codes without hurting your brand.
Moving stagnant inventory
This is clearly the best reason why you should use discount codes. Nothing is more risky than sitting on stock that is not selling. For this scenario, create discount codes targeted to sell off these items. You can either give a fixed percentage discount on individual items or make them free when a certain amount is purchased on an order. For example:
Buy anything over RM100 and get free 100 pieces of facial blotters.
Use discount code: BLOTTERS100
Customers who have remained loyal are any business’ best friend. This is simply because it cost so much more to gain new customers than to keep old ones. A great way to show your appreciation is to email old customers discount codes to say thanks for their continued support of your brand.
Reward customers with surprise discounts
Another way to establish customer loyalty is to automatically apply discounts towards their first purchase with your business, but without telling them upfront. As an alternative, you can waive their shipping fee for first time purchases. Surprise is often a great tactic to make lifetime customers.