Offering online discount coupon codes can be a smart idea when you’re selling products on the Internet . Coupon codes can be built right into your PayPal account or other merchant account so that they can apply a discount to purchases made on your site.
How can you use coupon codes to your advantage in selling online?
Giving people a discount off your product will increase the chance of people buying. A common internet marketing technique is to offer a special price like this:
$98
$68
$48!
Question: But wait…why give money away?
Answer: Read on to find out how this can actually help you get more $$sales$$.
Fact: People like discounts.
Correction: Actually, people LOVE discounts.
When people start looking for something to buy online, the vast majority of people are pre-programmed to take the time shop around for the best price. But if you offer a discount coupon code, you lower the chances of people looking to your competitors for a comparison.
Offering a discount to a first time buyer is a really good idea. Offering a discount for a limited time only is a great idea because you’re going to create urgency and urgency can translate to sales. Instead of letting people think they can sleep on it (which increases the chance of their forgetting about your wonderful product!) you incent them to buy NOW.
Here’s another profit generating tip:
Get people to opt-in to your marketing newsletter or e-mail list in order to receive your discount code. This way, you’re capturing their e-mail address which can help you market to them in the future.
About Sean Rasmussen
This is good psychology implementing in your sales strategy.
Good explained, easy to understand, I like your last tip, It will save time if you have an email list.
I always look for discounts where ever I can find them and these online coupons give everyone the opportunity to get better deals. It is frustrating when you find sometimes that the words discount get you buying but then you find out there was a better option. But thanks for the info.
I agree! Discounts worked on my pages like a voodoo spell.
However, sometimes marketers overdo it, especially in the case of digital products. I saw one product which original price is $5000, and then slashes the price all the way down to $49. IMHO this will create an opposite effect whereby the customer will think that the seller is desperate!
Thank you for sharing this valuable tip!
You are right. If the discount is too big, I don’t believe that anyone actually paid the original price at all. Also it raises questions about the value of the product …
I always use coupon codes for my online shopping and also I prefer coupons sites.
Thanks Sean
I will keep this in mind when I have a product. I have used coupons before. Before signing up for my hosting account I did a search and found discount coupons for them. First month practically free.
Hi Sean,
I have to admit it feels good when you get a discount on something. I’ve made use of a few coupon codes and they definitely encouraged me to buy. I like your suggestion of using the coupon code to encourage people to sign up for my newsletter.
I’ve never personally used coupon codes but I definately love getting a discount. What a great idea to get someone to opt in to recieve their coupon code as this allows you to follow up and hopefully make more sales in the future.
I admit, I love a good discount
But it still needs to be a product I want. But once I am in buying mood the discount (or coupon) can make the difference.
So yes, I agree that using coupon codes can make you more sales.
A good discount is a great idea and one that I would like to implement on my products in the future.
I take note of what 1wtBlog said above that if the price is slashed too much people may think there is something wrong with the product and won’t buy it. Strange creatures aren’t we!
That’s a neat reminder – I have lowered prices before – but just done it straight out – shluld have done the example given – made it look like a discount