Managing Coupon Codes in Your Magento eCommerce Store
There’s no denying that coupon codes can help boost sales. Not only do consumers prefer to buy from sites that offer them, they also spend an average of 24 percent more when they use them. While coupon codes can help you stand out from the competition, simply offering them on your Magento store isn’t always enough. If you properly manage and optimize them for next-level results, you can use them to do some heavy lifting for data collection. Here’s how you can set up coupon codes within your Magento store.
How to Set Up Coupon Codes in Magento
First-time coupon coder? Fear not! The most important thing to know is that you can use a coupon code tool like ours to get the best possible results with every single campaign. (More on that later.) As a Magento merchant, you have two main options when setting up a coupon code. You can either create a specific coupon code or generate a batch.
With this method, you should be using batch coupon codes. First, go to Magento and create your batch codes and export them as a CSV.
It’s important that you generate several of unique coupon codes during this step because you need to be able to assign a unique code to each customer in order to track the who, what, where, when and why of your coupon distribution.
You can follow the instructions on Magento’s user guide page for more information on how to generate batch coupon codes. Once you’ve got your spreadsheet ready, hop on back to the Springbot dashboard. From there, our software will help you promote your coupon campaigns and measure their success. You can also tailor offers to specific segments of your audience, effectively helping you leverage your customer data now and in the future.
Leveraging Coupon Codes With Automated Trigger Emails
Now that you understand that you can effectively target and track different groups with your coupon campaign and gather key data, let’s discuss the best way implement your strategy. We believe that using email marketing — and trigger emails in particular — will help you leverage both existing and new customers with the promise of a good old-fashioned deal.
Using our triggered email feature, you can essentially track exactly how your customers interact with the offers presented in a certain email campaign. Because each consumer will get his or her own unique coupon code, you’ll be able to track the coupon’s journey from generation to shopping cart to purchase. This provides you with valuable information that you can use to your benefit in the future. It also helps you identify your target audience.
More Ways to Leverage Coupons
You can also use your gathered insights on consumer behavior to guide your coupon rules, like minimum purchase and uses per customer. You could also choose certain customer groups for free shipping, percent-off deals or other discounts to entice those tough-to-crack user segments. You don’t need to generate an entire batch of unique coupons for this, though. Instead, you can assign different coupon codes to specific customer groups to measure how and when certain demographics use coupons.
Some subsets of your audience are probably more likely to prefer different deals. Let’s take age, for example. A study showed that 52 percent of millennials used targeted offers from a brand or store they’re loyal to, compared with only 43 percent of Gen Xers and 31 percent of baby boomers. So, now you know your campaign will probably be more valuable if it’s targeted towards millennials.
Last but not least, don’t forget to use triggered emails to curb cart abandonment! Many of our clients offer a special code just for cart-abandoners to entice them to return to their shopping cart and finish their purchase. The only word of warning we have on that is to use abandoned cart coupons sparingly to ensure that customers don’t catch onto the fact that they’ll receive a deal if they leave and come back later.