Promo codes are best regarded for their ability to draw traffic in most online stores. All you need to do is attach the codes to particular products or attach them as an offer on a certain purchase amount.
Generally, promo codes can be divided into three major groups, which are further broken to form other types of such codes. Continue reading to understand more of these;
Various types of promo codes
Anyone can use public promo codes. The major reason for using them is attracting new buyers and enticing the old buyers to come back for more products. Public promo codes are best suited for new upcoming stores or for seasons where sales go down.
Stores opt for private promo codes when targeting a specific group of people. For example, a store may offer such offers to their loyal customers to provide them with more fantastic and favorable shopping opportunities.
These offers are can also draw significant traffic when given to new shoppers. When coupled with good services, a new shopper attracted by the discounts will keep coming back when served right.
A restricted code is usually an offer for one individual and is it’s a one-time deal. Some stores issue these offers when they made a late shipment or thank you for specific quantities or times of purchase. Restricted codes are kept only for specific reasons that do not happen daily.
To further understand promo codes, they can be further described depending on how they are offered. Below are other commonly used promo codes you may come across in the stores today;
- All-products percentage off promo codes
These offers apply to all products in the store. In addition, a buyer gets the stated percentage off the funds used if the purchase adds up to a certain minimum amount.
- Specific dollar amount off promo codes
Though this method is not as standard as the percentage-off method, most stores still use it. In this case, a store offers a cash discount on purchases accruing to a specific set amount. For instance, a store may administer a $10 for every $50 purchase or a $25 cashback for every purchase amounting to $100.
- Clearance only promo codes
These promo codes are offered only when a store wants to clear its stock. Creating these codes is the best way to help clear up an old inventory to avoid overloading a store by mixing old and new stock.
When the store owners become really desperate, they develop such a promo code that offers a favorable discount to the shoppers. However, never expect these promo codes on non-clearance products.
- BOGO promo codes
BOGO is used to stand for Buy One and Get One Free. This is a method used primarily for items that are new in the market. BOGO promo codes are disadvantaged because they work best only in specific items like food and home products. It’s not reasonable when you get two sweaters of the same type.
- Freebie Promo codes
Everybody is tempted to make a purchase when free stuff is included. With this temptation, a freebie promo carries all the allure. This kind of promo code varies depending on the seller. For example, you may get a free tote bag to purchase a $50 perfume, or a manufacturer may freely give his products to test their effectiveness in the market.
- Cardholder-only promo codes
As the name suggests, this is an offer only to those with a store credit card. This is administered to persuade more shoppers to sign up for the card offered by these stores. In addition, the retailer offers an enticing promo code limited only to the cardholders to increase the number of credit card members.
Promo codes are an advantage both to the buyer and to the retailer. A buyer gets an opportunity to purchase items at a discounted amount while the retailer gets to build his revenue.
You will undoubtedly boost your sales if you instill them in your store. So be the wonderful you to your products by creating promo codes for an efficient way and a safe and fast sale.