When it comes to deciding whether to use discount codes for your business, there are usually two big drawbacks that business owners will have considered:
“Will the discount code even increase my sales?”
“Will the discount code lower the number of people that will buy at full price?”
There’s something to be said for these two concerns, however, to counter the potential drawbacks, we’ve lined up three advantages to using discount codes for your business:
1. You Can Entice Customers Back!
Customers will often go elsewhere because they feel like they can get more value or a better experience from another business.
If this is happening, the first step is to make any necessary tweaks to your customer service. The second step is to create promo codes to entice them back.
By doing this you are offering them additional value and reward for buying from you again. This could turn into a long-term gain for you and your business; if you can win over these types of customers, they should decide to stick with you from that point on.
2. The Shareability On Social Media
If your discount code is shareable, customers will quickly and easily share it with their friends. They’ll become advocates for your business!
This usually happens on social media, so you can use your offer to extend your reach to a wider audience.
This means although you’ll take a hit in the short term in dropping your prices, you might see more new customers buying from you.
3. Make Your Customers Feel Valued!
Creating exclusive discounts that are solely for your current customers (or most loyal buyers) is a great and easy gesture to make.
There are many benefits to doing this, but the biggest is this: it shows that you think highly of your customers and appreciates their loyalty.
When you reward these loyal customers with a discount, it inevitably creates a sense of exclusivity. You can create a special connection with them, resulting in increased loyalty over time.
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