Most people think of coupons as a way to save money at the grocery store, but today I want to share two creative coupon strategies that earn me thousands of dollars each month.
Coupon Strategy #1: Hide Your Coupon
On most shopping carts, there is a spot on the payment form for customers to enter a coupon. That works great for customers who have a coupon, but it makes other customers feel like they aren’t getting as good of a deal as other users. This can make users lose interest in buying.
When I buy something from a site that has a spot for a coupon, I usually google the name of the company and “coupon code” to see if I can find a better deal. While doing this one day, I had a great idea that has earned me thousands of dollars.
I created a page on my site where I put a picture of balloons and party streamers with the text, “Congratulations! You found Jim’s hidden coupon!” Then, I provide them with the coupon code “googledme” for $5 off.
After creating this hidden coupon, I began looking at my analytics. Shockingly, 1 out of every 5 customers finds this hidden coupon and uses it!
This little tip makes those users who were on the fence about buying the product and makes them feel lucky for finding the hidden coupon. The result? Many thousands of dollars.
Coupon Strategy #2: “Promise” to Give a Coupon
Everyone hates confirmation messages. Seriously. It’s an email to tell you something you already know. Ick.
I, however, LOVE my confirmation message. It is responsible for 30% of my sales each month. How does this magic confirmation message work? Let me show you…
When someone comes to my website, they see a popup inviting them to my email newsletter. When they enter their email address, they get a confirmation email sent to them. That’s simple enough, but I decided to transform this useless confirmation message into a money-maker.
The subject of the email confirmation is “Subscription Confirmed. Here’s the coupon I promised.” Although most of the users don’t know they’ll be getting a coupon, the subject line grabs their attention and 30% of my monthly sales utilize the coupon I give them in this email.
To put that in perspective, about 12,000 people visit my website a day. Only 0.83% of them give their email on the popup, but THIRTY PERCENT of my monthly sales use this coupon. If you’re not great at math, then trust me…. THIS TECHNIQUE ROCKS!!!
Hope you enjoy those strategies. They have helped me to create a successful business and I hope the same is true in your business.