10 Ways to Use Discounts & Coupons to Boost Marketing for Businesses

Coupons and discounts are a great way to not only boost sales, but also bring back customers who haven’t interacted with your business in a while. But you can’t apply discounts everyday for your business, because you will run at a loss. It is important to know how to use them to boost marketing for your business, so that you’re making more money instead from them. Let’s take a look at 10 ways to create discounts and coupons to boost marketing for your business, bring customers and keep old ones, and increase sales while at it!

But before we talk about them, here’s a question you might be interested in.

What is the Difference between Discounts and Coupons?

Discounts and coupons are both effective marketing tools to entice customers to make a purchase. However, it is important to understand the difference between the two. A discount reduces the price of a product or service for a limited time, while a coupon provides a code or ticket that can be redeemed for a discount when purchasing a product. Unlike discounts that can be claimed by all customers, coupons can be given to specific customers, making it an excellent way to target and reward loyal customers. By understanding the differences and using both strategically, businesses can boost sales without hurting profitability.

If you’re currently using the Bumpa app for marketing, you can easily set up discounts and/or coupons for your customers in less than a minute. If you’re not currently a Bumpa user, it’s a fantastic time to become one and start marketing your products to your customers with discounts and coupons!

Related: Learn the Best Strategies for Discounts & Coupons without Hurting your Profit

10 Ways to Use Discounts & Coupons to Boost Marketing

To ensure that you get the most out of discounts and coupons, it's important to use them strategically, so here are some of the best ways to utilise these marketing tools and how to apply them effectively to boost your sales.

1. Entice New Customers

Using discounts or coupons for new customers can be a good trick, when applied properly. When a customer lands on your website, they might not be ready to make a purchase. Offering them a discount for when they do is a great way to get them to consider, and while at it, you could also get their information like emails or phone numbers to retarget them at another time.

Discount example: “Welcome to Bumpa! We’re excited that you’re here. Here’s 20% off your first subscription. Could you kindly let us know which email to send the discount to?”

2. Reduce Stock or Inventory

Sometimes you want to clear out your old products because they’ve probably been there for too long and might start to go bad soon, or aren’t selling out as fast as other products that might need restocking and you need to let them go. A discount or coupon campaign for just that product would be a great way to clear out the shelf.

Related: Keep Track of your Inventory at a Glance with Bumpa

3. Track Marketing Campaigns

Another way that giving discounts and coupons helps you boost your marketing is by letting you know what marketing channels are effective and which ones aren’t. With different coupon codes assigned to different marketing channels, you can easily tell where you’re making your best sales and where you aren’t. For example, if you have a 10% coupon like INSTAGRAM10 and another one like TWITTER10 for both your Instagram and Twitter customers, it's easier to tell without stressing yourself, where you have a more active customer base.

4. Build your Customer Information List

A discount or coupon can be an effective way to obtain information from your customers. By offering something in exchange for their email for example, such as a discount or coupon, you can build your email list to retarget and keep customers informed about your business. You can also have their phone numbers to send them a quick SMS about an any other discount you have going on!

Related: Store Customer Data for Retargeting on Your Bumpa App

5. Increase Customer Spend

A great way to increase how much your customer spends on the spot is by giving a timed discount. If for example a customer was going to purchase one product, they might decide instead to just stock up since they’re going to get a discount or price slash on everything they’re shopping for in that period of time, or free shipping if they buy up to a certain amount.

6. Bring Back Previous Customers

Do you have customers who haven't visited your store in a while? Maybe they've lost touch with your brand or found another business to shop at. Offering them a discount or coupon code on their next purchase not only encourages them to come back, but also shows that you value their patronage. It's a win-win situation that could reignite their interest in your products or services.

7. Reward Loyal Customers

Keep your customers coming back by showing them just how much you appreciate their loyalty. You can create a loyalty program that rewards customers based on how much they've spent and offer them coupons when they hit a certain spending threshold. This not only makes your customers feel appreciated, but also encourages them to keep shopping with you. Plus, personalised offers based on purchase history can make customers feel like you truly understand and value their shopping habits.

Pro tip: Bumpa offers a great data analytics dashboard that shows you information about your customers, from what they’re buying to how frequently they’re shopping with you. You can then create coupons with the Bumpa app for your customers based on this data.

8. Reduce Abandoned Carts

If you've ever left something in your online shopping cart and received a gentle reminder from the store, you know the power of a well-timed discount or coupon. Offering a discount or coupon code can be a great way to nudge customers who were on the fence about making a purchase, and it can also help reduce the number of abandoned carts on your site. Don't let those missed opportunities slip away - a persuasive discount or coupon can be just the thing to seal the deal!

9. Get More Sales During Holidays

Holidays are a great time to implement discounts and coupons to boost sales. Offering holiday-specific promotions can entice customers to make purchases for themselves or as gifts for loved ones. You can also create limited-time holiday bundles that offer discounts for purchasing multiple products together. By promoting these discounts and coupons on your website and through your email list, you can increase visibility and drive more sales during holiday periods.

Related: Send emails and SMS to your Customers right from your Bumpa App!

10. Reward Referrals

Referrals are a force to be reckoned with in the world of marketing. Customers who come through referrals already have a certain level of trust in your business because a friend or family member recommended it to them. But why stop there? Imagine how much more effort those friends and family members would put into recommending your business if you actually rewarded them. Discounts and coupons are the perfect way to incentivize them and get them talking more about your business! So don't be afraid to leverage the power of referrals and turn your customers into your marketing team.

Conclusion

In conclusion, discounts and coupons can be powerful marketing tools when used strategically. By applying the strategies listed above, you can boost marketing for your business with these marketing tools. Subscribe to Bumpa today and start using the discounts and coupons feature to increase your sales and get more customers with ease! And when you’re done, here are 15 Coupon & Discount code ideas for your business!

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