Promo codes have become an increasingly popular tool for small businesses to advertise their products or services to potential customers. These codes offer a discount or other special offer to customers who use them during checkout, incentivizing them to make a purchase. We have integrated Promo Codes into our new customer loyalty app platform to take advantage of this key tool. It is great for measuring the effectiveness of both your marketing time and money. Here are three statistics that demonstrate the effectiveness of promo codes in advertising for small businesses:
- Increase in Sales: According to a study by RetailMeNot, 80% of shoppers are more likely to make a purchase from a new brand if they are offered a discount. In addition, 58% of consumers said that they have made an unplanned purchase because of a promo code. This means that promo codes can be a powerful tool for small businesses to attract new customers and increase sales.
- Better Customer Engagement: Promo codes are also an effective way to engage with customers and encourage them to return for future purchases. In a study by VoucherCloud, 57% of consumers said that receiving a promo code would make them more likely to engage with a brand on social media. This suggests that small businesses can use promo codes to amplify their social media profiles and build a community of engaged customers.
- Improved ROI: Finally, promo codes can offer a strong return on investment for your businesses. According to a study by Invesp, 60% of consumers will make a purchase from a brand they wouldn’t have otherwise because of a promo code. Additionally, businesses that use promo codes can track their effectiveness by monitoring how many customers use the code and how much revenue it generates. While Facebook ‘likes’ are important, driving customers to your business with a strategy that can measure results is important. You can use unique promo codes in TV, Radio and Social Media to measure the effectiveness of any campaign. This can be unique to an individual social media post, or a specific TV or radio ad. This means you can adjust your marketing strategies and maximize your ROI.
Promo codes are a highly effective tool for small businesses to advertise their products or services. They can increase sales, improve customer engagement, and offer a strong return on investment. We designed the new app platform to help you put this important tool to use for your business.