Using Coupons To Reward Your Customers

How To Use Coupons

Coupons are a fantastic tool - they let you reward your loyal customers with a discount! Coupons are a great way to introduce a brand new product line, and you can reward loyal customers easily using our built-in tools. A study by VoucherCloud found that customers are 57% more likely to purchase if they have a coupon as well as other interesting statistics. This post will look at some of the ways you can use coupons with your community.

Firstly, let's make sure that you know how to create a coupon by watching Ted's video below:

Introducing A New Product

If you want to introduce a new product on your store, you can look at running a product-specific coupon for the first few purchases of the product. This lets you reward your early bird customers. The positive experience of that early bird customer will likely influence how they discuss the product with other people, and this has a knock-on effect that may increase the likelihood of other people buying that product.

The short-term discount of the coupon can have a long-term knock-on effect, simply because the brand new product was introduced in a positive way. I'm sure many of you can think of product launches (particularly in gaming!) that were overall pretty negative or lacklustre, and how these recollections can really sour the image of a brand or product, months, even years later. A good way to mitigate this risk is to offer a discount to your loyal customers when launching a new product or service.

Attract New Paying Customers

You may have people in your community that, for whatever reason, may not have decided to purchase on your store - and this is perfectly fine! Providing a coupon to them decide to try the product if they are on the fence. Let's imagine you run a RUST game server and you sell VIP that includes queue skip, this is a really useful rank to have so that players can play with their friends whenever they want to. If your VIP is sold for $10 for 30 days, you could run a coupon so people can experience how good VIP is and show them how it's also a good way to support the community they enjoy!

Recover Abandoned Baskets

A great feature that is available at Tebex is the abandoned basket recovery tool. This fantastic and powerful tool will send your customers a chase email to remind them they left items in their basket, and you can offer a coupon if they are undecided. This tool is configured very similarly to the regular coupon, with the additional settings of when to send the email, and what your personalised message should be. There have been various studies on abandoned basket recovery and how effective it can be, Salesforce, for example, states that over 17% of customers who receive one of these emails will make a purchase shortly afterwards.

Rewarding Your Customers via Events

It's very common for stores to run ingame events and competitions (check our Minecraft event ideas), and using coupons is a great little gift you can use to reward your winners or runners-up! A one-time use coupon, for a specific username, with a high discount on a specific item is a nice reward for taking part in a competition. For example, let's say you run a competition in-game where players have to get to the centre of a maze. The winner could receive a gift card, and the runners-up could receive 60% off a product, this high amount of discount is probably rare on your store, so it can also be a great reward for loyal customers if the product is something they want!

Easy To Maintain and Manage

Our coupons are, of course, paperless, and you can set time limits, and restrictions on what they can be used on, you can set the discount type (percentage or value) and whether they apply to the whole basket or individual items before or after sale prices. These configuration options make it easy for you to control and manage your coupon discounts going out to your customers. If you want to make it easy on yourself, then setting an expiry date for the coupon means the coupon will not be useable after a certain date, you don't have to worry about manually refusing a coupon. Want to run a mid-week discount for 3 days? Set your coupon, share it with your customers and it'll expire by itself after 3 days, leaving you more time to manage your community and business.

Key Points

Take a look at the awesome infographic about coupons by VoucherCloud. There are some fantastic points in this infographic, some may not be relevant but a lot will be. Here are some key points I think are useful:

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57% of shoppers surveyed wouldn't have made a purchase without a coupon.

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65% of shoppers surveyed agreed that a coupon code will often finalise the decision if they are undecided on a purchase.

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93% of shoppers surveyed are very likely to use coupons received via email! You can read about how you can set up an email campaign in my post on sales here.

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63% are likely to reconsider purchasing if they receive a coupon after leaving the product in their basket. This is really important and you can easily use the Abandoned Basket Recovery tool to automate this system and provide your customers with a discount to secure that purchase.

Coupons are a really effective way to engage your community, they are cost-effective for you, and are a versatile and valuable tool that you should consider using strategically in your store. Want to create your coupon? Head here!