When I define the benefit that I offer to the consumers that use my coupon, what are the best practices to achieve the best results?
Generally, the best results are achieved with discount benefits, followed by gift benefits, and finally from sweepstake benefits.
When using a discount benefit, you can choose between a percentage or an amount.
- Absolut amount
If the basket value is stable, e.g. always around 100 €, or in the range of 75-150, then the absolute amount is better, because the perceived discount for the consumer is higher.
- Percentage of price
If the basket value fluctuates, e.g. between 10 € and 190 €, then the percentage amount is better, because it is applicable for more transactions.
- Special discounts
Alternatively, you can make a special discount such as 2 for 1, or 50% off the 3rd item.
When using a discount benefit, you can choose between a value voucher or a special gift.
- Value voucher
Value vouchers, such as a 20 € shopping voucher, achieve the best results, as they enable the consumer to choose what to purchase with the voucher based on his needs.
- Special gifts
Alternatively, you can make a special gift such as a free shirt or a free drink.
Alternatively, you can make a sweepstake benefit, such as the chance to win a trip or a bike.