What are Promo Codes?
Promo codes, otherwise known as discount codes or coupons, are programmed incentives that customers input to redeem a discount during purchase. Promo codes help to:
- Generate new leads.
- Increase conversion rates.
- Track marketing campaign success.
In this blog post, we’ll outline some best practices on using Promos and Offers to your advantage and winning new customers, retaining and rewarding loyal members of your community and maximizing your growth. We’ll also give you an insight into how the ABC Glofox platform can help you implement promo codes into your sales process.
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How to Effectively Use Promo Codes
Goal: Win New Customers
Whether you’re starting a new business, opening a new location, launching a new program, or simply looking to expand your existing community, it’s important to always be looking for the best ways to attract new customers to your business. Promo codes provide the perfect tool for enticing customers to check out what your business offers, and begin turning them into loyal customers.
Promo Codes can be combined with many different marketing approaches for winning new business such as:
Social Media Campaigns
Sharing promo codes via Social Media, or partnering with Influencers who will share the codes with their large networks of followers can help spread the word rapidly and target the demographics you’re most interested in.
Seasonal Campaigns
Many ABC Glofox customers run annual campaigns at key seasonal moments such as Black Friday, January, or Easter when customers are eagerly looking for deals. Often these seasonal events are linked to times when people are looking for the perfect gifts for their loved ones so it can be worthwhile targeting demographics who might not normally be your target audience.
Email & SMS Offers
Embedding promo codes in your marketing emails and newsletters or sending them out via SMS, email, or push notifications to leads and members can be another effective way to boost sales. The Glofox Amplify New Leads & Clients workflow can be set up in minutes and allows you to easily convert and onboard new customers. With ABC Glofox, you can now easily create promo codes with restrictions on membership types within the platform, allowing you to provide a more curated experience to your members.
For example, let’s say of the 20 membership types you offer, you allow a user to apply a 10% off promotion to unlimited monthly memberships or 10 class passes but not unlimited annual membership or any of my other membership types. In essence, you can provide much more targeted promotions to specific audiences, helping you to hone in on your most high-revenue leads. You can learn more about restricted promo’s for memberships here.
As a final bonus, you can even automate sending promo codes to members who’ve left merch, memberships, or packs in their cart for a set amount of time, giving them that final nudge to close the sale.
Want to see how ABC Glofox can help you create a seamless sales process?
Goal: Retaining Existing Customers
Efforts to retain existing customers can often be much more lucrative than campaigns to win new business with research showing that even a 5% increase in retention can result in up to a 95% increase in profit. Investing in marketing campaigns focused on retention and win-back strategies has the potential to make a significant impact on your success.
Promo codes offer a great tool for engaging with existing customers and showing that they’re valued members of your communities. 61% of customers say that being rewarded just for being a loyal customer is the most important way a brand can interact with them.
By utilizing the Glofox Amplify Member Expiring and Member Expired workflows for example, and embedding a Promo Code within these communications, you can achieve a valuable automated retention tool that incentivizes your members to remain loyal to your brand and community. You can even now track which members have used promo codes and when, allowing you to better understand the performance metrics of your sales and marketing campaigns.
The Top 10 Barriers
Slowing Your Fitness
Business Growth
Discover more Create Urgency & Scarcity
Urgency can be a powerful tool in any successful promotional campaign, creating a time pressure for customers that compels them into converting their purchase immediately so as to not miss out on the deal.
When given the time and space to do so, many customers will be hesitant with any significant purchasing decision, taking time to weigh up pros and cons and often ending up putting off a final decision indefinitely. By limiting your promotional campaigns to a certain time period, you remind your prospects that they need to act fast, which in turn taps into their fear of missing out and mitigate against hesitancy. Witch ABC Glofox, you can take advantage of the flexibility to set any start and end date you’d like on your promotions, so you can set it and forget it (until you are ready to analyze results).
Similarly using scarcity as a tool in your marketing campaigns can have a similar effect of reducing hesitancy and driving up conversion. For example, with the ABC Glofox cart abandonment feature, you can automatically send your members a time-sensitive promo code if they have left something in their cart for a particular amount of time. This can be a simple automated reminder that encourages them to finish their transaction while also creating a sense of urgency or scarcity. We will soon offer the ability to limit promo codes to a certain time frame, helping to drive home that sense of urgency even more.
Read More: The ABC Glofox Cart Abandonment Feature is Here
How JourneyFit Used ABC Glofox to Supercharge Their Sales
Victoria Thomas, the founder of JourneyFit, partnered with ABC Glofox to create a more seamless and professional sales experience for her leads and members. With the ABC Glofox platform, she is able to automate the majority of her sales, billing, and member engagement processes; saving her hours of admin time every day. As Victoria says herself:
“Glofox are more than a software platform. They’re a partner for my future.”
Want to discover how ABC Glofox can help you streamline your business with professional features like promo codes, sales automation, and member engagement tools?
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