About Promo Codes

All you need to know about promo codes!

What are promo codes?

Promotional codes are alphanumeric strings that online stores offer to encourage purchases on their website. They are typically associated with an overarching promotional marketing strategy with a discount associated with a promo code and can apply to particular products.

How do promo codes work?

The discount can either be a percentage or a specific currency amount. Promo codes can possibly provide customers with free shipping. This marketing strategy essentially gives customers yet another reason to buy your products.

A promotional code, also known as coupon code or discount code, is made up of a combination of numbers and letters used for specific purposes such as marketing of certain products of any campaign/s.

 Why do promotional codes work?

It increases sales by providing customers with an incentive to buy at a discounted price, which benefits both the business, customer, and economy. Customers can retrieve required products at a lower price, and the eCommerce store generates revenue and service marketing. Promo codes can benefit a customer for once of purchasing or a return option for purchasing more at a later stage. The incentives positively impact the overall shopping experience recently established by studies from Claremont Graduate University. 

 The option of retrieving a coupon/promo code as a gift is shown to be more effective with purchasing online than an actual gift itself. 

Studies have shown that people who receive promotional codes have higher levels of oxytocin. Oxytocin is a hormone in the body that generates feelings of happiness. 

Oxytocin is the key to shopping online, especially if they are notified of promo codes and assure of discounted prices on certain items.

With the mindset reaction of prospective customers, it’s the path to the future to experiment with the idea of incorporating promo codes into your business for marketing purposes. 

 How to use promotional codes?

When a client enters a promo code during the checkout/payment process, the relevant store that the promo code is assigned to will be able to confirm that all conditions of the promotion match the standards of the promotional code before validation. If the promotion code offers 15 percent off shopping carts of $150 or more, for instance, the code will not work if the minimum threshold hasn't been met. You can also tailor the requirements to exclude certain brands or products.

 Are you using multiple codes?

Promotion codes are always linked to specific sites, pending your promo code description. 

You can make the option available on the site to have more promo codes accepted to further purchase or limit the customer only to use it as a once-off purchase privilege. 

The retailer can decide the option for the number of use of a promo code. The retailer needs to ensure that they still profit from the capacity of codes they generated and the number of times the code will be available for use, especially if the retailer decides to active more promo codes for purchasing. 

What are the different types of promotional codes?

There is a variety of section whereas promotion codes have been summed up as the top 3 promo code classification that retailers can choose from as follow:

  • Public codes

 This code is available for anyone who 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

 Some retailers prefer to use the privacy section of promo codes to target a specific group of clients. The specific codes are presented to the loyal customers. For special shopping opportunities, as for first-time shoppers, private codes are a very good way to bring new customers to the database.

  • Restricted codes

 This code is specially designed to smooth over aggravated customers that might have had a bad experience with a purchase online, a delayed delivery due to unavoidable circumstances that could have been prevented. 

 Alternatively, this code can also be seen as a gift for being a regular customer and making use and purchasing on the retailing site more than 30 times. 

Most retailers prefer to have access to all the options as mentioned above to ensure you are connecting with the right group of shoppers and spread the marketing of this service further into shopping sections of the internet.