The Gift Basket Exchange Blog

Discount codes give cost savings to customers while providing valuable data and inventory control to the seller. Here are five reasons that creating discount codes can benefit an etailer’s business:

• Bring in new customers. When a consumer is ready to buy and knows of multiple sources for the product, price is often the deciding factor. Consumers are attracted to a good deal. Offering a discount code to new customers provides an added reason to shop at a particular website over all other options.
• Encourage repeat business. Satisfied customers will be more likely to shop again when they are reminded to do so, and given a compelling reason to return. A special discount code can be sent via email at specific intervals as a thank-you for past purchases and to encourage repeat business.
•  Increase order size. Time-limited offers create a sense of urgency and give customers a reason to buy more than they originally intended. Discount codes can be offered for a percentage off the purchase price of a second item, for example, or for free shipping on orders totaling a specific amount.
• Tracking. Gathering data on customer trends is imperative for every etailer. Issuing separate discount codes for different mailings, website promotions and affiliate partners, for instance, provides important information on where customers come from and which marketing campaigns are most effective. This data can then be used to make decisions about future marketing programs.
• Control inventory flow. Physical stores manage inventory flow by marking down items they want to move. Online storefronts can use discount codes for the same purpose. The discount can be offered across the board, or used to bring in new customers with an interest in that particular product category, or sent to previous customers who bought similar products. 

There are several ways discount codes can be applied. Etailers generally offer a set dollar amount off the normal price of a product, a percentage off the price of a single item, a discount on the order total, or free shipping on orders that exceed a minimum dollar amount.

Discount offers can be extended through a number of vehicles. They can be posted on the landing page of the storefront. They can be emailed to select past or potential customers. They can be introduced on the order summary page to encourage the customer to add items to the shopping cart. Or they can be listed at sites such as currentcodes.com or dealhunting.com.

Many etailers determine the effectiveness of their marketing strategies by tracking the use of discount codes. The information can help businesses achieve the highest possible ROI and sales at the best available rates.

You may be familiar with the fable that involves a farmer dangling a carrot in front of a donkey in order to motivate the donkey to work. When you work from home, there isn’t anyone standing over your shoulder to motivate you. You are the boss and the employee. You have to motivate yourself to get the work done.

To find your motivation, think about why you wanted to work from home in the first place. Perhaps you wanted to spend more time with your family or maybe you needed a flexible schedule. Take some time and think about your “why”. Write it down and keep the paper near your work space. Whenever you start to doubt your decision, read over your “why”: you will find instant motivation.

Working from home can be lonesome, especially if you are used to working in a large corporate environment and having lots of interaction with co-workers. The internet can be a great place to network with other people working from home. You can meet other people that work from home through message boards and forums.

Once you meet a few like-minded people, form an accountability group with each other. You can meet weekly in a chat room or on a conference call and discuss your goals, the things you achieved, and the things you didn’t. You can offer each other congratulations when things are going great and solutions when problems come up. You can also offer each other weekly challenges, and that friendly competition can offer some great motivation.

Just because you don’t have anyone to dangle carrots in front of you doesn’t mean you can’t do it for yourself. Take the time to write out some goals and choose some appropriate rewards for each one. Once you have achieved the goal, you can have the reward. This can be as simple as giving yourself a night off from cooking and ordering in pizza once you have written and submitted your first press release.

If you choose, you can get creative and write out your goals on poster board and paste pictures of the rewards next to them. This will be a constant visual reminder of what you need to achieve, and seeing the rewards attached to them will be a great motivator. Plus, anyone else who sees this will be able to keep track of your progress. They will know if you are accomplishing your goals and that can also serve as a source of motivation.

Whether or not you choose to put them on a poster board, you should have a way to keep track of your progress. Whenever you feel stressed or unmotivated, take a look back at all the things you have accomplished. You will remember the struggles you went through and the feeling of joy as you finished what you set out to accomplish. This is a great confidence booster, and will leave you feeling ready to tackle your next goal.

• Treat me with respect
• Talk to me without interruption
• Answer the phone quickly
• Provide alternatives when we have a problem
• Keep your promises
• Know everything about your products and services
• Be my advocate. I am a customer, not an account number.