SHOPIFY DISCOUNT OPTIONS
Merchants who wanted to offer discounts to their buyers had to use the Discount API, which was previously only available to Shopify Plus users. Now all Shopify users can create discounts directly from their administrator, it's easier than you think.
Discounts and sales are an important strategy for many online merchants. In fact, last year one in five Shopify merchant purchases used a discount code. Coupon codes can be used to grab those who are not willing to pay the full price, or they can help increase the total value of the order. They can be used to reward loyal customers and bring them back to your store for repeat business.
Earlier this year, Shopify released a pricing rules API that allows all Shopify merchants to set discounts directly from their administrator's left sidebar.
Below are some discount options worth considering in your business.
OPTION 1: FIXED PRICE DISCOUNTS
You can set up a discount for a fixed amount, such as $10 or $15 from your customer's total purchase. Fixed price discounts are good for increasing the total value of the order that people are spending.
OPTION 2: PERCENTAGE DISCOUNTS
Set a discount percentage, such as 15% of the order total. This is often used to help attract new customers.
OPTION 3: FREE SHIPPING
Offering free shipping is a way to stay competitive and reduce abandoned carts that come from an increase in price due to shipping. You can add this option when the purchase exceeds a minimum number of items or total price.
Keep it unique... you don't necessarily want an unlimited number of people to use a discount code, or for your customers to use it every time they shop with you. You can set some different parameters so that your discount is really significant. Some examples of this are:
- The dates the codes are active
- Specific customer groups, such as giving promotions to an affiliated company or its wholesale customers
- The total number of times the code can be used so that profit margins do not become too thin (restrict the code to one use per customer)
- The products or collections to which the code applies
It makes sense for your business to offer a discount to introduce a new product, bring back previous customers, or get rid of your overstocked items. It makes less sense to offer a discount on your best-selling products to people who are willing to pay the full price.
WHAT ARE OTHER WAYS TO SET DISCOUNTS?
If you have Kit CRM, you can use it for a discount. Kit makes setting up a marketing plan, including executing a discount code, as easy as sending a text to an employee. Please note that unless you change the settings, Kit will have the discount open to all customers on all products and will run for seven days. You can change this by telling Kit exactly what you want. Kit will use its Facebook and email marketing platforms to inform its customers about the discount code.
If you use Klaviyo as your email marketing software, they can help you set up dynamic coupons for emails. Coupon codes can only be used once and for specific purposes. For example, you can send a 30% welcome coupon to new subscribers, established directly at Klaviyo.
Make automatic discounts
You can install an application that allows you to send a discount link instead of a code. The application will set up a discount for you and will allow you to insert a link directly into an email. Following the link will take your customer to the page of your products, with the discount already applied at the time of purchase. This means that your customer won't have to enter the code (and won't be able to share it), and you will be able to easily send a link to any target audience you want.
How are you currently implementing discounts in your Shopify store? Comment below and let us know!