Subscription coupons are codes that give you the opportunity to redeem offers and discounts on new or existing subscribers. Coupons is also known as “special offers” and companies used them as an effective tool to attract and engage new and existing customers.
Depending on what you want to achieve, you can set up a coupon in many ways limit usage and expire them automatically. And also you can individualize your coupons for one customer. You can use subscription coupons that will expire after redeeming it once.
How coupons benefit – from a sales perspective
Your subscribers will benefit from the discounts they get and will more likely use your product or service again. Your business will benefit from returning customers and will extend your customer portfolio. You can track how many times a coupon is redeemed by your customers. This will let you know what kind of coupons that fit the best with your business model and create an advantage when planning future offers, discounts and promotional efforts. Reepay Coupons are very easy to setup and can be used as an effective sales tool. They can create a beneficial position compared to companies within the same product category as you. Subscription coupons will give the consumers “something extra” they can benefit from, by using your service or product. This will result in a greater competitive advantage.
Subscription coupons are a powerful tool to create effective campaigns for individual consumer. From the prospect to the loyal consumers or to those you wish to have re-engaged. As the owner or employee of a subscription business, you can use the knowledge about your consumers to create subscription coupons and promotion offers that will encourage each individual customer group. Targeted promotions gives your subscription business a boost that will effectively benefit your monthly recurring revenue and positively influence your customer’s lifetime value. Hence it will result in more loyal customers. The right incentive at the right time – for the right group of customers – will positively affect your optimizing promotional efforts.
As a subscription business it is important to be aware of churn and to focus on retaining customers. Especially for subscribers in the risk of churning, it can be a good idea to create a coupon-offer that will target to re-engage this particular group of consumers. In that way, they will once again be able to see the potential in your exact product or service. If you experience subscribers who cancel their subscription, subscriptions coupons is a great tool to “win them back”. Send a coupon to the customer with a special offer, they will have a strong incentive to come back again. You can use coupons as an “indirect feedback” from your customers. Depending on how many times the different types of coupons has been redeemed. It can help you get to know your customers and their preferences and avoid them churning.
So, if you were wondering how to become an even more attractive subscription business. Show your customers just ow much you appreciate them by handing our free coupons. That’s why Reepay is proud to supply this feature – a feature that will help your subscription business become even more efficient.