The reason why a voucher offer can help your business
The rise of voucher codes within online transactions has been quite phenomenal. Over the last few years they have increased within popularity and they’re seen as a great way for any business to convert a customer.
There are various ways a voucher can work.
You are able to offer a voucher discount to people that subscribe to your newsletter.
You can provide a discount on a second order
You can offer a discount on an order amount over a set limit.
You can offer a free delivery voucher.
You can offer a set discount that varies according to how much is spent eg: £10 away £100 spend, £20 off £200 spend.
You can offer a discount for everybody and advertise this on other websites. There are many voucher websites available. Some charge for a listing but some don’t.
There can be various issues with a voucher code for your business that you should consider.
Is it profitable to give a discount? If it’s damaging to your company figures then you might need to reconsider the straight-forward voucher offering and think about using a second order voucher, that encourages repeat business giving you more chances to shine with the customer. Adding a minimum order amount to the particular voucher offer is often a good idea.
Expiration date – many companies provide open-ended vouchers, but you need to think about whether this is a good idea, or many people best to re-assess the voucher provide a few months down the line and perhaps change the conditions and terms. Having a new voucher offering on a regular basis is something you can share with clients in a newsletter and get repeat business on.
Terms and conditions – make sure these people clear and you’ve thought them through properly. Is there a minimum purchase? Is there an expiry date? Would it apply to all products? Does the discount apply to delivery too? Could it be easy to understand? Money off as a figure rather than a percentage can be easier for individuals to understand.
Increase in sales – when the voucher gets listed by a paper or other media source which has a huge readership then will your business cope with the extra demand? If you got an extra 100, 000 orders immediately would your staff be able to handle that? Getting bad service because of over demand could damage your business. A way round this is to concern individual vouchers for customers by e-mail and ensuring your system allows the particular voucher to be used once only.
Improve sales whilst increasing prices : A voucher can help you when you want to improve your costs. You could offer a price cut code to allow people to buy at the old price for a limited period.
Some sample terms and conditions you might want to consider for your voucher:
– 20% price cut on cheesemonkies at Cheesemonkey Seller website until 31st December 2010.
– Applies to full price Cheesemonkies just, does not apply to any sale items.
– Discount does not include shipping charges. Offer valid for first 10, 000 orders only. Low cost can not be applied to gift vouchers. Cheesemonkey Seller reserves the right to terminate any vouchers at any time. The coupon is redeemable online only and can not be used retrospectively. The voucher can not be combined with any other discount program code available for the Cheesemonkey seller website. The voucher can only be used once per household.
Implementing the discount vouchers – you’ll have to discuss with the person who works with the technical side of your web site whether you can add a voucher in. There are systems such as Smart Vouchers that allow custom e-vouchers to become created for users. Services on offer like CouponPress, Smart Vouchers, and there are several more for specific shopping carts.
Benefits of using a generic sharable coupon code – You should be able to get a site listed on many of the voucher sites.
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Customers may share the code with their friends, post it on their profile pages on social network or tweet it. They will include a link to your site so you’ll get more inward bound links. This should raise your site ranking and traffic. You are able to approach related niche site owners to see if they will list the code as well.