Will digital coupons increase your conversion rates?
Consumers are clearly hungry for deals, and this hunger is growing as retail websites and mobile platforms improve. Should you add fields for coupon or voucher codes to your web form or eCommerce checkout, though? The mere presence of a coupon or discount code can increase shopping cart abandonment rates (more on that later). Mention the word "discount" and you risk driving your customer (whom you worked so hard to win through a variety of marketing tactics) back down the "digital high street" to see what other deals are available. However, because coupons can be a reliable source of revenue, it is a matter of determining the best way to employ these discount strategies without jeopardising sales. What are the strategic benefits of websites using coupons? Many e-commerce and online retailers run various types of promotions at strategic points throughout the year, from the run-up to Black Friday, throughout the Christmas shopping season, and beyond into the spr...