Saving money has become essential in this uncertain time. People had realized the importance of savings and money when they lost jobs, got reductions in salary, and suffered from business losses due to global lockdown. Also, while the world is on lockdown, online shopping has increased, which is costly. Despite no bargaining options, you also have to pay shipping charges which is an extra addition to the continuous increase in the prices. To save your precious money, coupon or voucher codes are offered nowadays to get discount shopping online. These coupons are highly in demand nowadays due to the increase in prices and online shopping.
What Is A Coupon Code
Do they hear about coupons on and off? But do you know its meaning or purpose? We primarily use terms without knowing their uses and meanings. A coupon code is a combination of letters and symbols, a computer-generated code for e-commerce websites. A coupon code is also termed a promo code, voucher code, or discount code. Customers enter these codes at the checkout page in the promotional box to avail of the discount. It is a marketing strategy to increase the sale of a product. These codes are designed to encourage online shopping and increase store revenue. It is also the best tool for consumers to save money and buy their dream products at the lowest rates. CouponGot.com and Groupon.com offer coupons and promo codes for many stores, businesses, and online shops, including shoe retailers like Zappos.com; clothing brands like BananaRepublic.com, or GapKids.com; shopping websites like eBay and many others.
Marketing Objectives of Coupon Codes
Coupon codes or deals are the best marketing strategy to improve business and increase sales. The word discount has a psychological effect on the human mind, making you buy products that you don’t even need. Marketing goals a company can achieve from coupons are:
- It increases online subscribers and followers.
- It raises brand awareness in public.
- It raises brand loyalty.
- It redirects online users to the website.
- It qualifies sales leads.
- It promotes the sale of the products.
Types of Coupon Codes
There are various types of coupon codes for different types of discount deals. Here we discuss all the types:
These codes target a specific group of people. They are offered to the loyal customers of the brand. They are also availed on first-time purchases of a product or from a website.
They are available for everyone. The purpose is to increase store revenue and sales.
They are for a single user, often offered as a complement or apology. Also, these codes are given on the subscription or signing up for the website for the first time.
It is a fixed percentage of discount on any purchase. Suppose a store offering an annual sale of up to 50% on all purchases is an example of a percent discount.
Fixed Cart Discount
The type of discount on spending a certain amount. As an example, a store offering a 25% discount on spending $200.
Fixed Product Discount
It is the discount offered on the purchase of a particular product. Or buy one get one offer. For example, on purchasing a Fridge, you get a Mobile. Or buy one product and get the other for free. It is also the type of discount website offering a free product with a product basket.
It is a free of cost delivery offer. You order a product and the store offers you free delivery.
How To Shop Online Using Coupon Codes
Shopping is an art and saving money while shopping is a great skill. Coupon codes make your online shopping fun. Here are the steps to use discount codes while shopping online.
- Find a coupon for the brand and product you want to purchase.
- You can get it from the company website or advertisers.
- You can also search on google. Just type coupon code for XYZ product, and you will get huge savings deals and codes.
- Copy the code.
- Go to the website you want to shop.
- Add product to the cart.
- Enter or paste the code at the checkout page.
- Click on proceed, and you will get the discount instantly.
- Click continue.
How Shoppers Find Coupon Codes
At the start of coupons and deals, these codes were only available with the product websites. Nowadays, these codes are available on many retail websites, influencers, and PR agencies. Stores also offer coupons and promos through email to subscribers. A more appropriate way to locate a code is to search on google, and you will get a huge amount of codes for your favorite brand. Some brands also offer birthday deals to their cardmembers. You can also find these codes on online sites such as Offers.com, RetailMeNot, and Coupons.com.
What Is A Linked Coupon
It is a link instead of a code. When you click on the link, it will take you to the discounted product. You don’t have to enter the code at checkout. The link automatically generates the discount. Stores and brands often use these codes. They can use them within their email newsletters, on social media channels like Facebook or Twitter, in blog posts, or other promotional materials to allow readers to get discounts when they click through the links.
DownSides Of Coupons
Despite many uses and advantages of coupons, here are some drawbacks of coupon codes:
- They lower the value of a brand.
- It is the tactic mainly used for an unselling product to increase its sales.
- When a store offers codes continuously, they delay their customers. The customers, when they need a product, wait for the time when it is on sale.
- Customers often get products they don’t need.
- Most of the products offered on sale have less life.
- Sometimes coupons are made so rapidly that they become out of date.
Coupon codes are like a light at the end of the tunnel in this inflation period where the price of everything is going high. They are a great saving tool for online shopping. You save your precious money and sometimes also get a product with no shipping charges. The best tip to be a pro shopper is to shop when you avail of a discount code or at the time of annual and semi-annual sales.