eCommerce is seeing a persistent growth in India and is expected to reach $8.5 billion with a growth rate of 63% by 2016. With the increase in number of internet users and online shoppers, it is apposite to identify multiple ways to reach out to prospective buyers and increase traffic to the eCommerce portals. Keeping this scope in mind, Couponing industry has undergone transformation to keep pace with the fast growth. Since its inception in the form of small sheets of paper, coupon offerings have changed drastically with the advent of eCommerce and online marketing. Coupons and cashback companies contribute around 13.5% of the total online purchases in India. The industry is growing at the rate of 62.9% with around 7.6 million unique users getting added in a month. eCommerce companies are getting benefitted by affiliating with coupons and cashback companies to increase traffic and market outreach.
However, beyond just acting like a marketing medium for eCommerce companies, these affiliate partners have been giving more value to the latter than what meets the eye. Some of these benefits are given below.
Search Engine Traffic Redirection
Search engine is the most integral element for driving web traffic. 74% online buyers search for deals and coupons before making their purchases. The search engine function enables retailers to optimize most beneficial coupons for the consumers. Small tricks such as optimization of title tags as well as creating a map view might do the trick easily. While making purchasing decisions, consumers can check upon value deals and discounts via search engines using filters to get information on specific product and service categories, web stores, validity of coupons, location specific info.
Customized Recommendations Through Integrated Coupon Widgets
The recommendation feature enables retailers to offer consumers deals that are specific to their online searches. Coupon sites are now adopting latest technology of integrating coupon recommendation widgets like Gleam, etc. for making communications more personalized to increase consumer loyalty. Understanding the customer interests helps in offering customized, relevant and validated information. This works as an addition to the marketing efforts of the eCommerce companies by associating with coupon websites to give customers targeted offers. Below is an example where a product is searched on a coupon site for deals, the Pinterest followers are offered exclusive discounts as a pop up message.
Affiliations and Exclusive Tie-ups
Cashbacks and deals have always stimulated customers. Keeping this in mind, different coupon websites are now implementing affiliation marketing and exclusive tie-ups with online sellers and marketplaces to build a faithful community of shoppers. Such exclusive offers are the vital offerings that ensure customers to return to the coupon site whenever they would want to avail the offer on the products and services. Also, customers would refer to other prospects, considering this offer would be exclusive and would not be available elsewhere. The coupon sites would put in more effort to promote the offers and lead to an increase in conversions.
Mobile Responsive Website and Apps
eCommerce companies have been highlighting that over 65% of their transactions are happening through mobile, so associating with coupon and cashback companies that have mobile apps would be more effective to ensure that customers search deals through mobile easily while shopping on the mobile websites or Apps. Transacting using mobile phones is increasing among the buyers as well as online sellers. According to a recent study, 1 in every 3 consumers having smartphones, search for coupons on mobile devices, and more than 25% of them have actually redeemed a coupon using their mobiles. Websites are also being made mobile friendly for easy access and faster loading. Couponing sites like HappyCheckout.in, CouponDunia, ShopPirate.in etc. have come up with their Mobile apps to enable customers to look for coupons easily, even when they are shopping using mobile apps or mobile website.
Leveraging Social Media Marketing of Coupon Sites
The power of social media and viral marketing tools is quite eminent now. Integration of social media sharing tools like sharing on Facebook, Twitter, Pinterest, etc. helps in increasing the outreach of the eCommerce companies. Further, while the affiliated partners share the deals and coupons on social media, it amplifies the outreach. Consumers could stay informed on the latest deals and discount coupons as well as share the information within their circle via integrated social sharing buttons. Even the celebrities and industry thought leaders are using their social accounts to promote offers and brands to increase the outreach.
Increase Outreach Using Email and SMS Integration
Integrated Email and SMS tools are helping in making the communication between websites and users more effective. Coupon sites also send intimation on relevant coupons or information on deals to subscribed users via automated Email and SMS. Tools like Mandrill, Falconide, Clickatell, Mozeo, etc. help in enabling these communications by scheduling campaigns or triggering Email or SMS based on actions. Coupon websites also schedule weekly communication with relevant information on coupons for subscribed users, to help them stay updated. This activity helps in reaching out to the audience with relevant information and lure customers to check the deals and coupons available for the products they are interested to purchase.
Price Comparison Sites and Associated Coupons
The price comparison feature has made the life of shoppers much easier. It enables the customers to view and compare best marketplaces to shop from and to figure out the perfect coupon to be used with it. This feature also enables customers to view and apply the coupons, check the pricing and buy the products on the eCommerce portal offering best deals. Sites such as mysmartprice, desidime and comparemunafa, help in identifying this.
Coupons and Cashbacks have done wonders for coupon websites. Globally, cashback is a $84 billion Industry, with 35 Indian companies among the leading cashback companies worldwide. Exclusive coupon codes, tie ups with sellers or payment gateways like PayU Money, Paytm, MobiKwik etc. for cashback offers, drive a lot of customers to the websites. Many sites provide cashback offers, so it is important to focus on exclusive opportunities to drive customers to the websites.
Technological innovation has enabled coupon industry to revolutionize itself and has more appeal to customers now. As the coupon industry is growing, the discount coupons, deals and cash backs are the need of shoppers to get the best deals. For sellers it helping to reach out to more prospective buyers and increase sales opportunities. Embracing the technological advancements would further help in making the processes simpler and effective.
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