Why a voucher offer can help your business
The rise of voucher codes in online transactions has been quite phenomenal. Over the last few years they have increased in popularity and they’re seen as a great way for a business to convert a customer.
There are many ways a voucher can work. MoreVoucher
You can offer a voucher discount to people who subscribe to your newsletter.
You can offer a discount on a second order
You can offer a discount on an order amount over a set limit.
You can offer a free delivery voucher.
You can offer a set discount that varies according to how much is spent eg: £10 off £100 spend, £20 off £200 spend.
You can offer a discount for everyone and advertise this on other websites. There are many voucher websites out there. Some charge for a listing but some don’t.
There can be various issues with a voucher code for your business that you need to consider.
Is it profitable to give a discount? If it’s damaging to your business figures then you might need to reconsider the straight-forward voucher offering and think about using a second order voucher, as this encourages repeat business giving you more chances to shine with the customer. Adding a minimum order amount to the voucher offer is often a good idea.
Expiry date – many companies offer open-ended vouchers, but you need to consider whether this is a good idea, or whether it’s best to re-assess the voucher offer a few months down the line and perhaps change the terms and conditions. Having a new voucher offering on a regular basis is something you can share with customers in a newsletter and get repeat business on.
Terms and conditions – make sure they’re clear and you’ve thought them through properly. Is there a minimum order? Is there an expiry date? Does it apply to all products? Does the discount apply to delivery too? Is it easy to understand? Money off as a figure rather than a percentage can be easier for people to understand.
Increase in sales – if the voucher gets listed by a newspaper or other media source that has a huge readership then will your company cope with the extra demand? If you got an extra 100,000 orders overnight would your staff be able to handle that? Getting bad service because of over demand could damage your business. A way round this is to issue individual vouchers for customers by email and ensuring your system allows the voucher to be used once only.
Improve sales whilst increasing prices – A voucher can help you when you want to increase your costs. You could offer a discount code to allow people to buy at the old price for a limited time.