With so much competition today, many businesses do everything they can to attract new customers and retain their existing ones. Online coupons have become an attractive tool for retailers to increase sales. They can also be used in conjunction with other marketing strategies.
An online coupon refers to an email, a web address, or an electronic code linked to a sale or promotion. As a customer, you should learn about their advantages and disadvantages so you can make the most of them and figure out which ones you should get and which ones you can go without.
Pros Of Online Coupons
1. You Can Save Money
You can benefit from this marketing strategy by keeping an eye out for lower prices and freebies. Online coupons are one of the best ways for savvy shoppers to save money.
Imagine being able to buy something you've always wanted to try for only half the original price. You can use the money you save for essentials or set it aside for future use.
2. You Can Easily Find Them
Another great thing about online coupons is that you can find them just about anywhere. Check your email inbox, and you'll likely come across curated deals from brands whose mailing list or newsletter you've subscribed to.
Visit the social media pages of your favorite retailer, and you may find a promo code that's perfect for your next purchase. You could even get a text message reminding you of a discount code that's available to you as a valued customer of a particular store.
3. You Have Numerous Options To Choose From
When shopping with online coupons, customers can check out the offers of several retailers to find the best deal possible. The variety of options is especially beneficial to those who frequent a specific store.
It'll enable them to try new products and services and save money at the same time.
4. You Will Save Time
Compared to printed coupons in newspapers or magazines, online coupons are convenient to use. All you need to do is to have your electronic coupon saved on your smartphone prior to visiting the shop. If you're using the store's website, you just need to copy and paste the code when you check out your cart.
Cons Of Online Coupons
You May Not Be Eligible To Use Them
A customer uses an online coupon to purchase a product from a particular brand at a reduced price, but they must follow some terms and conditions in order to claim the voucher. Here are cases where someone may not be eligible to use an online coupon:
- Online coupons have expiration dates and must be used before they're deemed invalid. You must check those dates before applying an electronic code to your purchase.
- A retailer's online coupon policy may state that using the same type of discount more than once isn't allowed.
For example, coupons for a 75% discount on certain items may not be used when buying other products in the store.
- Some companies that issue new customer discounts may require you to buy other items from them before you can use that kind of online coupon. This is why retailers issue coupons in the first place: to encourage new customers to make purchases.
2. You Might Spend Unnecessarily
Since some online coupons have short expiry dates, it may be tempting to use a coupon right away and then return to the website to claim another discount. While it's great to get your hands on a lot of discounted items, it's best to only go for products that you need.
3. You Can Fall Victim To Online Scams
Another problem with them is that hackers may also use them to obtain your personal and financial information.
One way to protect yourself online is to check whether you're acquiring electronic codes from a reputable company or legitimate source.
Online coupons have made shopping much easier and faster, but they can also cause a few problems.
Misuse of online coupons may result in unnecessary spending or make you susceptible to phishing emails.
Therefore, it's in your best interests to be careful with spending and choose your source of online coupons wisely.