A sales voucher could be defined as a form of a digital or physical documentation or receipt which is given to consumers when they purchase a product and/or service and used to trigger them to buy another product and/or item in the future.
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1. TYPES OF VOUCHER
Generally, there are two types of voucher.
- Consumption (also known as value vouchers), are the voucher type that could be exchanged for a good or service that is worth a specific amount.
- Goods (also known as non-cash vouchers), on the other hand, are used for a service or merchandise, e.g. dinner, brunch or a holiday package.
2. FACTORS OF VOUCHER MARKETING
- Tracking
Just like any other marketing strategy, it is essential to measure as well as evaluate the success of sales vouchers associated with specific marketing activities (eg. offline events, loyalty program, advertisement) with specific groups of customers (first-time buyers, loyal customers, customers in city X) on specific occasions (holiday season, grand opening ceremony, off-peak hours). By means of right tracking methods, you can gain user insights during campaigns for analyzing as well as future optimization.
- Brand recognition
Sales voucher marketing is commonly used by entrepreneurs and brands who opt for gaining recognition in the short time. By strategically making use of distribution channels (e.g. newsletter, etc.), it is possible for those businesses to extend their customer base. It is also important to take discount value into account. High discount value could attract more customers.
- Design
Time plays an important role in sales voucher marketing. Therefore, you should aim at fast processing time with few mandatory fields for consumers to fill in. Also, it is suggested that you should provide a wide range of payment methods for a hassle-free online voucher purchase experience. The same should go for on-site or offline transactions purchases in order to ensure a best experience for customers. Personalization should be made an option for consumers – or for the recipient.
- Policies
In order to facilitate redemption, there must be a minimum number of restrictions. The voucher should clearly state validity terms and its ability to be used with other coupons as well as other terms and conditions.
