How to Start A Coupon Business
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- Introduction To The Online Coupon Businesses.
What are your best selling products? Which products are the most profitable and least profitable? How much foot traffic comes through your physical location based on online marketing efforts? Who are your best customers and what are they buying?
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How many one-time purchase customers purchase? What online traffic sources send people to your site? Of those, which channels have the highest purchase rates? Are there regional differences in customer purchasing patterns? When are your peak times and slow-down periods seasons or even days of week and times of day?
Repeat customers. If someone is already buying from you, it may seem counterintuitive to offer them a coupon. Make the customer experience a priority by rewarding loyal customers with special coupon perks from time to time. One-time buyers. You may even consider giving them the promotional offer after they fill out a brief online survey. Anonymous browsers. This segment will consist of anyone who has visited but never purchased.
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If your customer purchases occur offline at a physical location, you may have a large proportion of your site traffic designated here. Shoppers by daypart. Think about your business and how you can break it into dayparts. Which dayparts see the most activity? Which are slow? Try using a coupon offer targeting your dinner crowd to come by for breakfast. If you offer services, give a discount to your afternoon appointments who book in the morning for their next visit or service. Dayparts may not be a concern for online stores, but they can be a big deal for offline locations and service-based businesses.
Target your most profitable customers with loyalty coupons. Use upsell and cross-sell coupons with your least profitable customers. Tire kickers and opportunists. People in this category are those who have asked questions, filled out a form, requested a free sample, and only buy from you when you give them a coupon. Look at what customers purchase. Do you have other products that complement the products that people buy?
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You could offer a coupon on earrings for every necklace purchased, for example. Give a discount on widget cases for every top-of-the-line widget sold. By event or special date. If you track customer anniversary dates, birthdays, or industry-specific events, you can offer coupons that align with these special days.
Use a coupon solution like Woobox to help you limit redemptions by email address, Facebook user profile, or Twitter user profile. Here are a few things to keep in mind when it comes to displaying and offering coupons online: Make your images and design as appealing as the actual offer. Consider hiring a freelance designer to help you create a polished look and feel.
How I started and grew a small coupon code business
Add a strong call-to-action and clear, concise copy to entice shoppers to take the next step. By signing up, you agree to Offers. You may unsubscribe from the newsletters at any time.
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How To Make Your Own Online Coupon Business In A Profitable Niche
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