By Luke Weigel
Brand Manager, Lessiter Media
lweigel@lessitermedia.com
262-777-2424
Holidays, birthdays, early-bird rewards, last-minute decisions — where you find these you'll usually find promo codes.
Promo codes — also commonly referred to as discount codes or coupon codes — are a great marketing tool to quickly and easily provide an incentive to your audience. For customers, promo codes oftentimes provide monetary savings, but can present a plethora of options like free shipping, contest entries, free promotional items and more.
And for businesses, promo codes help create a sense of urgency and FOMO (fear of missing out), incentivize immediate action, assist with customer acquisition and provide another level of data for tracking performance.
At Lessiter Media, we strategically plan out our promo code efforts to target certain audiences, times of year and areas of the business that might need a little boost.
We recently extended an exclusive promo code to a very targeted audience segment, inviting them to register for an upcoming event. Our goal was to see if by introducing this offer we could increase registrations from this group that was on the smaller side a year ago. And to date, we have seen a 278% increase of registered attendees compared to the same group last year.
So promo codes can certainly serve as a powerful promotional tool. But with most things, there are also some downsides to consider when looking to introduce promo codes into your marketing efforts. Check out this infographic for some pros and cons of using a code for your next offer.
And if you'd like to learn more about how we use promo codes to drive results, drop me a line and I'd be happy to discuss some of what we are doing.
