Why tracking coupon code failures is an eCommerce must
Online retailers know that customers love coupons. Some customers will not buy in a store if they don’t have a coupon.
Retailers are following-up on this trend and it seems these days that in every given moment each retailer will have a coupon in place regardless of the season or the event. The retailers will find a reason to celebrate and when one promo event another event will follow soon after.
It’s pretty staggering how many coupon failures we are seeing, and while you can expect this sort of behavior, as users are constantly trying out coupon, it’s eye-opening to see how proliferated this activity is.
While this promotional based tactic has proven to be very successful for some retailers, we are seeing a steady rush towards more and more lucrative coupons to get customers coming back, and for many retailers, coupon management has gotten a little out of control.
Here at Webeyez we are aware of this trend and one of the goals that we track out of the box are coupon redemption success and failures.
It’s also interesting to see what sort of coupons customers are trying to redeem – and you can take business action accordingly.
Coupon failures sound like a none issue, but our data shows unequivocally that failures in coupon redemption are causing a 30% drop in conversion across the board.
A few reason why you should keep track of coupon failures:
- Coupons that should work and are not: Sometimes we extend a promotion or post a a coupon on social media and yet we do not extend or forget to create the coupon code on our ecommerce platform.
- Coupons that work and should not: Sometimes coupons work on items that we did not intend to them to work on. this causes a drop in profitability.
- Coupons injected with third party providers: Sometimes we use one-time-coupon codes with 3rd party providers and for some reason these coupons stop working. We need to be on top of such failures as they happen. We see coupons in Welcome series emails, coupons as rewards on reviews and coupons on after-purchase where they stop working after some times and the retailer is not aware.
Staying on top of your coupon management is key in today’s competitive and agile marketplace as the fight for each customer gets more and more intense, it’s important to stay on top of your promotions and offerings else customers will be disappointed and will consider going elsewhere to shop.