Harness The Power Of Personalized Coupons For Improved Conversions

Personalized Coupons aren’t just another way to incentivize customers. These are proven to be the most persuasive approaches to personalize the shopping experience to cultivate enduring customer relationships.

Have you ever received a discount coupon email to claim an additional discount, say 20% off on your purchase? How did that feel? Do you reminisce about the experience? Below are some statistics indicating how exciting the user finds it.

Also, this article will explore overcoming the challenges when offering coupons and devising a successful personalized discount coupon strategy. So, let’s begin!

Latest Reports Recommend Usage of Personalized Coupons

Here are a few statistics complementing the effective use of personalizing discount coupons when incentivizing your customers.

• 63% millennials, 58% Gen-Xers, and 46% Gen-B (senior citizens) are willing to share personal info if offered personalized discount coupons.
• After providing their information to a retailer, 54% of shoppers expect to receive personalized coupons within a day.
• Over 90% find personalization intriguing and 80% of consumers are inclined to engage if provided personalized experiences.
• Over 80% of people in the U.S. sign up with personal email addresses only to receive an exclusive discount coupon.
• Personalized promotional mailings have a 41% higher unique click rate compared to random untargeted mailings.
• In a recent “Coupon and Offer Personalization” study, 99% of respondents expressed a high likelihood to use discount coupons if sent by a retailer they shopped with regularly.

Opportunities You Have with Personalized Coupons

Abandoned Cart Recovery

Your chances of retaining a customer increase with a discount. As it offers a fine combination of fear of missing out on the deal, a benefit, and a sense of being ‘wanted’.

Tailoring discounts to individual purchase history or say ‘items left in the cart’ shows customer appreciation. Offering personalized discounts sends a message that you value the customer and their patronage.

Cross-Selling & Upselling

The cross-selling technique leverages the customer’s existing intent and encourages them to explore related products that align with their interests.

‘This product seems to be more to your liking, use this coupon to try it out.” Offering attractive offers on other buying options not only creates a chance for a sale but also encourages customer loyalty and satisfaction.

Engagement in Social Media Campaigns

Social media is one of the best mediums to get into the communication circle of your prospect. Discount coupons have a way with customer engagement. Combining these two — with coupons specifically designed for clearance sales or marketing campaigns, you have a better chance with your efforts on social channels.

Promote New Product Launches

A personalized discount coupon can be used to introduce new products. Such coupons can be tailored for specific segments of your existing customer base. This helps generate excitement and interest in the new offerings and coupons are one way to do it effectively.

Competitive Advantage

Catering your segment with exclusiveness and quality is what gives you the competitive edge. Utilizing personalized coupons can set you apart from competitors and create a unique selling proposition that appeals to customers.

Moreover, this approach showcases your commitment to meeting each customer’s specific needs. It showcases a level of care and attention that is unmatched in the market.

Enhanced Customer Experience

By showing that you understand individual customer preferences, customized coupons contribute to an improved customer experience. With these coupons, the customers are more likely to feel valued and understood, leading to a positive perception of the brand and encouraging brand advocacy.

This loyalty is built on the foundation of your efforts to provide tailored solutions that align with customers’ unique interests and needs.

New Customer Acquisition

Personalized discounts can be used to attract new customers. Tailoring introductory offers based on customer preferences can pique their interest and encourage them to try out the eCommerce store.

The impact of personalized discount coupons goes beyond short-term sales; it creates a long-lasting bond between the customer and the brand, increasing the likelihood of referrals and positive word-of-mouth marketing.

Customer Retention and Loyalty

By tailoring offers based on customer preferences and behaviors, personalized discounts can foster a sense of exclusivity and appreciation. This, in turn, can lead to increased customer retention, loyalty, and repeat purchases.

As the feeling of exclusivity deepens, customers are more inclined to return to your eCommerce platform for future purchases, knowing they’ll be rewarded with deals that truly resonate with their preferences.

Overcoming the Challenges of Personalized Coupons

Reduced Profit Margin

Analyze your cost, and your profit margin, and plan out the discount you can offer. Analyze your competitors. You can always choose the strategy to incentivize your customers. Create an attractive offer that they can’t refuse.

Resembling Your Products With Rebates

You don’t want your customer base to be only there for discounts and freebies. And most certainly, you want them to appreciate quality over price. So, don’t let them catch the habit of discounts and associate with your brand’s products as cheaper alternatives.

Untargeted Promotions

Discount for everyone. You want them to feel the FOMO and exclusivity. Your discount must not be open to everyone. Make the discount accessible followed only by eligibility criteria.

Poor Technology

You require comprehensive coupon management tools alongside a coupon strategy that not only closes sales but gives opportunities for retention. This requires data management and monitoring tools to gain insights into the buyer’s journey. By doing this, you can create an inbound marketing campaign alongside dynamic discount coupons.

What Successful Personalized Coupons Strategy Look Like?

Use Customer Information

If you have or you can gain access to your customers’ information then this becomes a point of commencement of coupon personalization. Customer information, such as email addresses, names, and demographic information, provides a valuable foundation for crafting targeted discount offers.

This data-driven approach allows you to create targeted discount coupons that align with their interests, effectively presenting them with products they are more likely to be interested in.

Example: Sending a special discount code on a customer’s birthday or offering promotions related to products they’ve previously shown interest in can significantly increase the effectiveness of your marketing efforts.

Awareness of Buying Pattern

Awareness of customers’ buying patterns alongside the buyer’s journey becomes essential for successful coupon personalization. By analyzing data such as purchase history, browsing behavior, and demographic details, you can uncover patterns that reveal their preferences, timing of purchases, buying decisions, and even seasonal trends.

Additionally, understanding the products often purchased together allows you to create bundle deals that align with their shopping habits, enhancing the perceived value and encouraging larger transactions

Example: If a customer frequently purchases running shoes every six months, you can proactively send them a discount coupon just before their typical buying window.

Curating Redemption & Limitations

Implementing reasonable limitations, such as expiration dates, minimum purchase requirements, and product exclusions, ensures that the discounts are utilized within a designated timeframe and encourages higher-value transactions.

Example: Imagine a personalized discount coupon code that offers 20% off on a customer’s preferred product category. To manage redemption, set a two-week expiry date and a $50 minimum purchase amount encouraging prompt use, possibly leading to higher spending.

Using Behavioral Triggers

Coupons can be triggered by specific customer actions, like abandoning a shopping cart or browsing certain product categories. Similarly, tracking their interactions with specific product categories enables you to tailor coupons that align with their interests.

Example: If a customer leaves items in their cart without completing the purchase, sending them a personalized discount coupon within a few minutes can prompt them to return and finalize their transaction.

Best Incentive Type

The choice of the best incentive type is a pivotal decision in designing a successful marketing campaign. Percentage discounts often resonate with price-conscious shoppers, motivating them to make purchases they might otherwise have hesitated over.

Example: Let’s say you’re managing an online platform that offers a range of digital courses and ebooks on various subjects. Offering a percentage discount of 30% on all digital courses for a limited time could be a compelling incentive. This strategic discount will provide them with the opportunity to access high-quality educational content at a reduced cost.

Channel of Communication

If you’re on Social Media and if you’re using email or live chat as your primary communication channels, leveraging them effectively can magnify the impact of personalized coupons in your eCommerce strategy.

Moreover, through email campaigns, you can directly reach the customer with a tailored discount code based on their preferences and behaviors. On the other hand, the live chat feature can serve as an immediate point of contact where customers can inquire about and redeem their coupons seamlessly.

Integrating coupons offering personalized discounts into your communication channels will maximize the visibility of enticing coupon deals.

Devising Personalized Messaging

The coupon may include personalized messages addressing the customer by name or mentioning their preferences to construct a more intimate connection. These tailored messages go beyond mere transactional interactions, making the customer feel valued and understood.

Example: A coupon code accompanied by a message like “Enjoy 25% off, [Customer’s Name], on your favorite fashion picks” resonates on a personal level, acknowledging their unique taste.

These personalized touches demonstrate the brand’s dedication and also cultivate a sense of loyalty and positive sentiment toward the brand in the customers.

Providing Social Proof

Including reviews or testimonials related to the products on offer can further enhance the coupon’s effectiveness. When a customer sees testimonials attesting to the benefits and satisfaction others have experienced with the products, it instills confidence in their purchasing decision.

This combination of personalized messaging and genuine feedback creates a compelling narrative that resonates with customers.

A/B Testing and Optimization

You can conduct A/B testing with different customized coupons to determine which approaches work best for different customer segments. This optimization process can lead to improved coupon effectiveness.

Example: Create coupons in variety based on factors such as discount percentage, minimum purchase requirements, expiration dates, and personalized messaging. You can track and compare the performance of these strategies.

Generating Personalized Coupons with Automated Coupons App

Automated Coupons by MakeWebBetter is the premier coupon code generator and coupon management tool. This discount code generator enables you to create digital coupons that are dynamic. The Automated Coupons app requires you to connect your WooCommerce store, simply by providing a URL.

Once you connect your store to the automated coupons app, you can create multiple coupon rules, and create digital coupons based on these rules. So, having this app shuns away the efforts required to generate discount codes every time you require them. You can set dynamic discount coupon rules to generate coupon code for every occasion.

Contact Specific Coupons With HubSpot CRM Card

The Automated Coupons app enables the functionality to create digital coupons within your HubSpot. Using this you can generate personalized coupons for your customer by accessing the specific HubSpot contact.

Follow the steps below to do so.

• In your HubSpot account, start by navigating to Contacts and then clicking the contact for which you want to create a coupon.

• Next, scroll down in the CRM Cards section on the right and find the Create Coupon option under the MWB Create Coupon option.

• Customize the settings to create coupons as desired.
• Once done, click the Create New Coupon button. That’s it!

Create A HubSpot Account Now!

Dynamic Products-Specific Personalized Coupon

In the Automated Coupons app, the unique coupon code generator enables you to create coupons for selective products or the entire site. You can promote new product launches, clearance sale items, or limited product availability.

To access this feature choose Selected Products, whenever you create coupon rule. Products created in your HubSpot account will be visible for selection and exclusion.

Setting Up Coupon Redemption Rules

Curating redemption and limitations for personalized discount coupons is a strategic balance that enhances customer engagement, lead generation, and revenue optimization.

The custom coupon configuration in the Automated Coupons app isn’t just limited to formatting. Get your customized coupons with redemption rules.

• First, you can set the expiry date of the coupon. With the option Relative, you can decide on the number of days for which the coupon will be active.
• Moreover, you can set the number of times the coupon can be redeemed with Coupon Usage settings.

Personalized Coupon Code

Trigger fear of missing out (FOMO) with coupon usage; moreover, ensure a sense of exclusivity with customized coupons. In addition to this, The feeling of receiving personalized discounts will strengthen your relationship with the customers and help them associate with your brand much more effectively.

While you create the coupon rule in the Automated Coupons app, you can personalize the coupon code format for your customer. With Merge Fields settings you can include the first name, last name, or email address of your customer in the coupon. Additionally, you can decide upon the sequence of the Prefix, Suffix, Merge Fields, & autogenerated text under random characters.

This will define what format the unique coupon code generator will follow to create coupons.

Personalized Experience Within HubSpot

This dynamic discount code generator creates custom properties in your HubSpot. Using these HubSpot properties, you can create automated emails for coupon code marketing, to attract and engage their target audience effectively.

The properties you get in SpotPay are:

• Last Coupon Amount
• Last Coupon Code
• Last Coupon Type
• Last Coupon Expiry

You can also set up an automated unique coupon code generator using HubSpot workflows.

Incentive Type As Per User

You can choose an incentive type as per the user’s buying pattern or purchase history. For instance, if there’s a product left in the cart, you can enable free shipping alongside coupon discount to encourage purchase with a drastic price reduction.

To access this feature, go to the bottom of the coupon generator and enable the Allow free shipping option. You can combine it with other functionalities like flat discount coupons and percentage discount ones.

Knowledge Base

Documentation

In a nutshell…

A coupon is a sure-shot way to break the icing, facilitating communicate with your customers on the terms of monetary benefit. Sharing personalized coupons characterizes your brand as the carrier of benefits, which embraces customer satisfaction above everything else.

So, join forces and create a brand identity backed by personalized coupons to propel your marketing efforts. Try the best app for the purpose, Automated Coupons, to create coupons that resonate with your target audience. See you!