48% of customers buy sooner when they have a coupon. And 37% of customers buy more than they normally would. These numbers could be a great tool to drive sales and results. Most people think of coupons as discounts but successfully implementing a good coupon strategy requires far more planning. The coupons require you to identify appropriate distribution channels so they get seen by the customers. The coupon also requires you to identify the right audience and have incentives for them that will drive them to make a purchase. Mastering the coupon strategy not only helps you increase your sales and help spread awareness of your brand. But how to follow a structured coupon strategy that will help with business results?
In today's episode, we invited a panel of cross-functional experts for a live interview on LinkedIn who brings significant expertise to discuss coupon strategies for e-commerce. We covered many grounds in this episode, including the difference between discounts and coupons and how they differ for B2B and B2C. Finally, we also discussed several concepts such as distribution strategy, measurement techniques, applications, implementation guidelines, specific coupon types and use cases, and best practices for implementing coupons without losing money.
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