Using Online Discounts and Coupons can be a great way to help customers purchase goods and services for a discounted price (https://www.coupongorilla.es/). Whether you are an ecommerce store, restaurant, hotel, or other type of business, incorporating coupons and discounts into your marketing plan can boost your sales. Besides helping your customers purchase the products and services you offer at a reduced rate, coupons and discounts can also increase your brand’s reputation among your customers.
Increase positive affect
Using discounts and coupons to help consumers purchase goods or services in a low price is a long standing practice. The benefits are both financial and psychological. The discounts give consumers some agency in the purchase process, while the coupons offer an incentive to make a purchase. The best part is that these discount methods are not limited to brick and mortar businesses. They are also effective in the online space.
The most common affective response to a price discount is a spike in the “feel good” hormone oxytocin. Despite the positive affective response, the price discount has a negative effect on consumers’ perception of quality. In fact, Sweeney and Soutar (2002) identified a price dimension of perceived value.
Using an online survey, participants were randomly assigned to receive four levels of product discount. The study investigated the effects of the price discount on perceived quality, the value of the discount, the quantity of information derived from the discount, and the correspondingly attributed hedonic and utilitarian benefits. The study also tested whether the price promotion itself was the most effective means of influencing consumer attitudes towards the price of a particular product. The results showed that the most effective form of price promotion was those that were congruent with the specific product type.
Read Also: The Importance of Managed Services
Reduce the number of steps in the checkout process
Streamlining the checkout process for online discounts and coupons is a great way to increase revenue and reduce checkout abandonment. With a checkout process that is optimized, you’ll be able to communicate with customers and drive them toward a successful purchase.
Streamlining the checkout process also ensures that all information is available to customers. For example, you’ll be able to show shipping charges and other fees. In addition, you can offer alternative payment methods to ease customers’ concerns.
The best way to streamline your checkout process is to remove steps that don’t make sense. For instance, you may find that it’s best to remove a password field. When you do, you’ll reduce the total number of form fields by 13 percent.
You may also find that it’s best to avoid forcing customers to create accounts. This can be a time-consuming process and distracts customers from the main goal of your checkout.