Coupons market is huge. Every product in the world can be purchased at half price if you search for the right coupon code. The discount can either be a percentage or a specific dollar amount. Promo codes also provide customers with free shipping or gift-wrapping. This marketing strategy essentially gives customers yet another reason to buy your products. According to Microsoft, a promotional code, sometimes known as coupon code or discount code, is made up of a combination of numbers and letters. It’s used for specific purposes, such as a holiday marketing campaign.
What are the different types of promotional codes? There are three different types of promotional codes store owners can choose from.
Public codes – Anyone can see or use a public promo code. These are useful for enticing new customers and encouraging previous shoppers to come back for more.
Private codes – Stores use private codes to target a specific group of people. Commonly provided to loyal customers for special shopping opportunities, such as first-time shoppers, private codes are a good way to bring in new customers.
Restricted codes – A code that is restricted is targeted to a single user and can only be used once. For instance, you might send a customer a restricted code as an apology for a delayed shipment or as a thank-you for making their 50th purchase with your site.
In contrast, a promo code refers to the specific, verifiable alphanumeric code which users can redeem for a discount, deal or free gift. The question is, if you can use coupons to advertize a promotion, why use codes at all? Codes are invaluable if you need to limit the participants in a promotion, or only share it with specific users. Using codes protects you from bad actors who reuse, copy or tamper with coupons. They’re also lightweight and adaptable for many different formats. For this reason, promotional codes are very popular in e-commerce. Usually, customers are asked to enter codes just before check-out, and platforms such as Prestashop and Magento offer tools to create promotional codes. Finally, promotional codes are traceable. Read on below to find out why that’s so important for your marketing strategy and ROI.
CCG (Coupon Code Group) offers coupon codes, promo codes, deals and promotional codes, which will offer a discount on products and services. Couponcodegroup.com is a user-friendly website that can provide you with your needs in coming up with quality coupon codes. CCG provides a wide range of discount codes for different categories and most admired online business categories such as Clothing, Beauty products, Health, Accessories and much more. Via electronic coupons, it is very easy to save money when doing a purchase of products and services. See more info at Top brands coupons codes and deals.
In addition to finding coupon codes offered directly by an online merchant, there are a number of websites that track new coupon offers from merchants worldwide, such as Coupons.com, Coupon Cabin or RetailMeNot. These sites typically aggregate thousands of current, online shopping promotion codes in one place. Some sites provide the codes for shoppers to copy and paste into the merchant’s shopping cart, while others require you to click an affiliate link (usually a referral code link) from the coupon site to the retail site and have the discount code applied automatically.
How Do Coupon Companies Make Money?
Coupon companies promote discounts from participating businesses directly to consumers, providing a valuable service for both groups. Businesses profit from working with coupon companies by boosting traffic in their stores and encouraging first-time visits. Consumers benefit from direct cost savings for goods and services in the market. However, coupon companies themselves have to make money to survive and grow. Some make money through direct sales, while others look to alternative sources to generate income from free giveaways.
Web-based coupon companies can make money through affiliate programs and relationships with other deal distributors. In an affiliate relationship, a large online retailer or coupon company pays another website to lead traffic to its own deals. Smaller coupon companies can list the deals of larger coupon distributors, sending their own traffic on to the larger company and receiving a commission on any resulting income.