A discount code is a string of numbers or letters that a customer can enter during checkout to get a deal on their order. Businesses often use them to incentivize customers, drive traffic or increase average order value. They may also have limitations like minimum purchase requirements or how many times a code can be used.
Limiting the number of codes available can create a sense of urgency and exclusivity, which helps to promote the discount and improve its ROI. This is typically done by limiting access to them to certain groups of people like email newsletter subscribers. It is also a good idea to give a timeframe for the promotion, such as by a payday or end of month to encourage purchases and create a sense of urgency.
A BOGO discount is another effective way to push shoppers to make a first-time purchase or explore other products. It can be especially effective when used on high-cost items or edible or bulk products. Companies like TOMS Shoes often hold flash sales on their shoe products using this strategy to move excess inventory. They offer a coupon that is valid only for one week and are promoted through social media channels and their website using exit popups. Similarly, Fashion Nova uses this strategy to convert visitors who are about to leave the site with an exit popup offering 10% off for their first purchase. This is a simple and easy to understand offer that is hard for the visitor to ignore. Discount code