Dynamic Coupons
In this article, we will learn how to create and use dynamic coupons in Retainful.
What are Dynamic Coupons?
Dynamic coupons are auto-generated, unique, and single-use coupon codes that you can offer your customers to give them a discount on their purchases. You can set up time-bound (expiry) to the dynamic coupons. A dynamic coupon code cannot be used in conjunction with any other coupon code.
You can send these dynamic coupon codes in your abandoned cart recovery and post purchase email campaigns to increase your conversions. And you can offer dynamic coupon codes in the referral program as well.
Types of Dynamic Coupons
The dynamic coupons can be generated for the following discount types,
Fixed Amount Discount
Percentage Discount
Free Shipping
How Dynamic Coupons Benefits Your Business?
Here is how your shop benefits from offering these dynamic coupon codes to your customers,
Creates Urgency / FOMO and Boosts Sales: When you offer customers limited, time-bound (expiry) coupons, it will encourage them to make quick purchase decisions. A dynamic coupon with a time-bound works best in creating fear of missing out (FOMO).
Attracts New Customers: You can delight first-time customers with welcome discounts and turn them into loyal ones.
Drives Repeat Purchases: Dynamic coupons enable the possibility of giving exclusive discounts to your existing customers and drive repeat purchases. It helps improve customer loyalty and maximize the customer retention rate.
Winback Inactive/Lost Customers: With dynamic coupons, it's very easy to winback/retain your inactive/lost customers.
Prevents Coupon Abusers: When you offer a static coupon to all your customers, they may share it with their friends and family to let them use the coupon code. Also, if you don’t set up any restrictions for the static coupons, the same customer can reuse a static coupon as many times as he wishes. But, dynamic coupons can prevent your shop from coupon abusers.
Dynamic Coupons in Retainful
When you use dynamic coupons in Retainful for your store, at the time of coupon generation, Retainful will send an API request to WooCommerce/Shopify to create the coupon. And you can find the generated coupons on your WooCommerce/Shopify backend since they are the normal WooCommerce/Shopify coupons.
How to Use Dynamic Coupons in Retainful?
There are multiple ways to use dynamic coupons in Retainful for your store. Here is the list of features where you can use dynamic coupons,
Automations - Abandoned Cart Recovery
Automations - Post Purchase
Referral Program
Automations - Abandoned Cart Recovery
Offering dynamic discount coupons is one of the best ways to recover abandoned carts at your store. The coupons can serve as a motivation for customers to return to the store and complete their purchases. And, if you set up a time-bound (expiry) for the discount coupons, it will create a fear of missing out (FOMO) to give an extra push to recover the abandoned cart.
Follow the below instructions to add Dynamic Coupon to your abandoned cart recovery email campaign/workflow,
Login to Retainful dashboard -> Automations
Edit/Create abandoned cart recovery workflow
Click on the ‘+’ icon located between the 2nd wait block and email block
Select ‘Coupon’
5. Click on the coupon block to find the coupon settings on the right side
6. Configure the coupon
7. Save
Now the coupon block is configured correctly.
You can now click on the 2nd email block and the ‘Edit Email Content’ button to add the dynamic coupon to the email.
Find the dynamic coupon block in the email template, and you need to click on the coupon block to find the coupon settings on the right side.
NOTE: If you don’t have a dynamic coupon block in your email template, you need to drag a ‘Dynamic coupon’ block from the blocks section and drop it inside the email template.
In the coupon settings, select the option ‘Use the coupon code generated by the coupon step’. Doing this ensures that the coupon code generated at the coupon block will be sent to the customers through the 2nd abandoned cart recovery email.
You also need to do the same thing for the 3rd abandoned cart recovery email (if it contains a dynamic coupon) too.
Automations - Post Purchase
You can offer dynamic discount coupons in various post purchase email campaigns to drive repeat purchases and increase customer loyalty. Here are some of the email campaigns that you can offer dynamic discount coupons,
Thank you Emails
Welcome Emails
Winback Emails
Product Review Request Emails
Product Recommendation Emails
When a customer makes a successful purchase, you can send a thank you email automatically from Retainful to increase post purchase customer engagement and build customer loyalty. But, if you attach a coupon (Next Order Coupon) to the thank you email, it will prominently help you drive repeat purchases.
Follow the below instructions to add Dynamic Coupon to your post purchase email campaign/workflow,
Login to Retainful dashboard -> Automations
Edit/Create post purchase workflow
Click on the ‘+’ icon located between the 1st wait block and email block
Select ‘Coupon’
5. Click on the coupon block to find the coupon settings on the right side
6. Configure the coupon
7. Save
Now the coupon block is configured correctly.
You can now click on the 1st email block and the ‘Edit Email Content’ button to add the dynamic coupon to the email.
If you are sending follow up emails in the workflow, you need to configure the coupon block in the emails similarly.
Referral Program
Launching a referral program is one of the easiest and most cost-effective ways to acquire new customers. In the referral program, you can offer discount coupons as incentives to the participants. Choosing the right discount type and value is vital as the discount will be a deciding factor for advocates and friends to participate in the referral program.
In Retainful, the referral program rewards will be offered as dynamic discount coupons for advocates and friends.
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