Discount vouchers, which are also knows as voucher codes, promo codes, promotional codes, e-coupons, e-vouchers, e-deals, or discount codes, can be used at the checkout of many online retailers and wholesalers to claim money off the original price of the goods or services you have purchased. These vouchers are often only good for a specific amount of time. If unused after the expiration date, it will lose its worth.
These vouchers are often used by stores to improve their sales on a certain product range. By offering people the chance to purchase the items for a cheaper price, they are making the product more desirable. This marketing technique has already been proven to be effective.
They are also used to encourage customers to keep shopping at their store. Of course, if you can purchase the same brand of beans from them for a lesser amount of money, thanks to your discount voucher, why would you look for a different supermarket? In the long run, this trick can help the store earn valuable loyal patrons while also effectively raising revenue. And you thought you’re the one getting the best out of those discount vouchers. Now you know, buddy.
These codes also often come with certain terms and conditions. Of course, since they’re already giving you an exclusive sale on their products, we can’t expect them to spoil us. They’ll run out of business that way. Usually, the vouchers can only be used once per transaction. They are also often limited to certain products which, typically, will be discussed to you when you get the voucher.
As we’ve already discussed, discount vouchers are a type of financial incentive that customers can use to purchase certain goods and services. The voucher will include a voucher code, which is a series of numeric sequence that will be scanned by the cashier to make sure that the proper discount is applied for the transaction. Check out some expense vouchers.
It’s so easy to get your hands on discount vouchers nowadays. They can be purchased online, or you can get them through your mail. A discount voucher can only be used in a specific location. For example, the voucher you have purchased is for a restaurant. This means that you can only use it to buy dishes from that place. You can’t use it to get milk from the local dairy. You might also want to take a look at meal vouchers.
The terms and conditions the customer using the voucher must know are all discussed in text on the voucher itself, so it’s best to read the fine print in case the store has more unique demands regarding the use of his vouchers.
There are also discount vouchers that online shoppers can use. Their usage is basically the same with that of a physical discount voucher. Online shoppers can choose to use the vouchers during the checkout process, so that the discount can be applied to the transaction before the amount can be taken from the shopper’s credit or debit card. Here are some shopping vouchers for your reference.
Using discount vouchers as a marketing and advertising medium has gained popularity over the past few years. More and more businesses have utilized the technique since it has proven itself to be an effective way of attracting more potential clients.
Customers are known to be vulnerable to deals and discounts. Many stores can show you evidence that shoppers will buy that hair dryer even if it’s not on their grocery list just because they have a 50% discount voucher applicable to the product. Automatic sale, and all the business had to do was to print them out. You can also check out prize vouchers.
Below, we will discuss some of the most common benefits that await any store who provide discount vouchers to their customers:
It’s imperative that we start with this one. People are naturally attracted to deals, sales, and discounts; anything that can get them a product or a service of the same quality, but for a cheaper price. Ergo, discount vouchers can make customers rush to your store, and this amount of excitement from the crowd can only do good things for the business.
Why are they easy to promote? Because all you need to do is to tell people that they exist, and they will come running to it like ants to a candy. You don’t even have to advertise it. The voucher will sell itself.
Another good thing about them is that they are completely under your control. You set the terms, and you decide on the expiration date. You can manage vouchers based on what will serve your interest best. And should the impossible happen and vouchers no longer work for you, you can always cancel them too.
(Heads up, this part is not going to be all rainbow for the customer.) Some businesses think that if they give out more discount vouchers, they’ll be earning less. After all, they sold things for almost half their value. How can they get profit out of that? Well, since vouchers are very flexible, store owners can decide on how they will be used. Here are some free voucher designs that you can use.
You can let your customers know that they can only use the discount voucher if they spend a particular amount of purchase on your other products. For example, they can earn a 10% discount after spending $100 on selected items. The customers will want to spend more thinking that availing a discount voucher will help them save when it actually won’t. It only made them buy more than they intended.
By projecting the right offers and using the right form of advertising, attracting new customers with these discount voucher can be, as the cliche says, a piece of cake. People tend to want to try new products if they think that they can get more value out of it from their money, and convincing them of that is exactly every voucher’s propaganda.
Aside from attraction new patrons, discount vouchers are also perfect for retaining the current ones. Why would you want to leave a store if it offers you discount vouchers just because you’ve purchased a specific amount on products you actually need? Yes, customers can benefit from them too.
One other reason why stores are providing discount vouchers to customers for specific products is because they are trying to get rid of their remaining inventory. For example, there’s a set of shirts that haven’t been sold for the past 2 years. Well, if you try putting them on the list of what people can buy with a voucher, they’d be gone before your next inventory, even if most clients have barely laid eyes on them before. This cannot be stressed enough: people love discounts.
There’s always a product in every store that no amount of marketing or advertising can make popular. Well, if those previous efforts aren’t effective, this one surely is. The same concept works with high margin products and old stocks.
Offending customers cannot be avoided. Even if it’s just a small misunderstanding between your salesperson and your client, or it’s a mistake in product shipment, you should still do something about it to avoid losing your customer for good. One of the things you can do to appease him is to give out a free discount voucher. This will instantly put a smile back on their face (because who doesn’t want free things?) and they will surely come back to use that voucher. You might also be interested in thank-you vouchers.
Yes, vouchers are great. We’ve already discussed that. However, we are not the only geniuses in this industry. Other business owners have also realized the ability of vouchers to raise their sales and customer patronage. Which means that even in making your store’s discount vouchers available, you still have competition, real and strong.
In this type of marketplace, the challenge, especially for small business owners or start-up business, is doubled. How can they make their offers stand out among all of their competitors? Fortunately, we are answering that question for you.
Regardless of what products you are selling, or the type of business you run, here are strategies on how to utilize your discount vouchers for maximum impact.
Economics tells us that shoppers act in the most rational way possible. But they fail to mention that shoppers also do not like to do math. Which means that as long as you make your offer seem as valuable as you possibly can, they will bite right into it without doing any calculation. You can try creating and promoting different approaches and variations to find out which one is the right mix for your customer base. You may also see cash vouchers.
More than 80% of shoppers act on impulse when presented with a promo. As we’ve already discussed earlier, even if that product is not in their grocery list, if you offer it to them with the promise of a discount, it won’t matter that it’s not what they came here to by, nor will they care that they already have one exactly like your product at home.
Put a deadline to your offer. For example, make it a one-time deal, or do it for a limited time only. Whatever method you choose to use, as long as it can make the customer feel as if they are in competition with others for it, the pressure itself will make them want to buy the product with your offer.
Another thing that people love is knowing that they are receiving something that very few others are. The same concept works for your store vouchers. If you make them feel as if the discount is exclusive to them, the odds are proven to be better for you.
You can advertise to your Facebook and Twitter followers that you are giving away discount vouchers only to your social media followers. Or, better yet, you can send out personal emails to your most frequent customers (and even invite them to become a part of your loyalty program) to make them feel valued by your store.
This can be a little more time-consuming and difficult to implement, but if you do, it will help you reap more benefits out of every transaction involving one of your discount vouchers.
Personalizing a voucher means delivering the right discount voucher to the person at the right time. For example, if your customer has just stocked up on soap from your supermarket, it doesn’t make sense to offer him a discount on face wash since he already has a lot of those. Your offer will most likely be rejected. Here are some blank voucher designs that you can use to personalize your own.
But if you offer him that discount 3 to 4 weeks from your initial offer, he will most likely appreciate that voucher since, by this time, he’s already used up all of his soaps. Since he’s going to stock up again, he’ll grab that voucher like a piece of hot dog at a picnic. Of course, this can be a little difficult since you’ll have to observe your customers’ purchases. But the results will be worth the effort.
The benefits that your buyer will get out of this is all about perception. At first glance, he must automatically be convinced that he will save money and that he will get more products by using your voucher. For example, every transaction he makes will entitle him to whatever privilege you can offer. The more promos you present to your customers, the more they will be convinced of the soundness of the deal. But, of course, do this in a way that will not put your business at a disadvantage.
Discount vouchers are a blessing to both seller and consumer. It just gives both parties involved every possible benefit from the transaction. By using one, and using it the right way, you are helping your store gain more customers and more revenue, while also helping your customers save at least 30% on their next purchase.