What are Promo Codes?
Promotional codes are alphanumeric code; meaning they contain both letters and alphabets and are used at retail outlets to redeem special deals, gifts, discounts on products and free services such as shipping or gift wrapping.
There is a slight difference between coupons and promotional codes. Promotional codes are more limited, are easily traced and are suitable for many formats. They also eliminate the possibility of being reused or copied by untrustworthy shoppers.
Reasons to use Promo codes
Other benefits of using promo codes include:
- To attract potential customers.
- To retain existing customers and make them loyal customers.
- To increase sales and revenue.
- To increase the rate of turn over.
- Increase Brand awareness and visibility.
- To collate customer’s information as well as trace locations to deduce where most of your products are needed.
Types of Promo codes:
There are different types of promo codes:
The first is the public codes that are available to everyone and used to attract new customers. The next are the private codes for a specific group of people who you may want to reward. For example, loyal customers. The last is the restricted code. This is usually given to one person.
How To Use Promo Codes:
You can use social media platforms to publicize codes. Design your codes using the audience you want, the number of people you would want to participate and the length of time it would run.
As users register to become participants, they input their data: contact details and also feedback.
When the customer attempts to redeem the codes, as an online store or local retail store, ensure all conditions of the promotion have been met before validating. You should decide if customers are allowed to use multiple codes or just singular codes.
You can also decide to make it more rewarding for customers by creating a raffle draw so the winner gets a nice promo code.
All these should be done to improve brand awareness without damaging the brand image. It should also be done to increase sales and not harm the business. It should be properly planned and organized so you gain more loyal customers, rather than lose any.