Coupons vs Vouchers. When to use each?
What’s the difference between a coupon and a voucher, and when should you use each? The term "coupon" is typically used to mean "discount", which is vague and problematic. Companies and consumers have their own interpretations of a coupon, which can lead to complications in a marketing cycle. As an example… would you say that a coupon provides a discount on a specific product, a bundle of products, or everything in a shopping cart? Can anyone redeem a coupon, or only a specific person? Can it be redeemed just once, or an unlimited number of times? The range of questions and use cases can create frustration between the company and consumer. This becomes more complicated when including other forms of value like promo codes, membership points, tier-based membership discounts, store credit, gift cards, gift certificates, advertisement discounts, affiliate discounts and more. Also, coupons are easy for customers to abuse since they can be redeemed multiple times. If you’ve ever seen the TV show Extreme Couponing, then you’ve seen how coupons can be exploited to receive a lot of items for free. This activity can skew a marketing campaign, since a single customer can exploit it. More redemptions don’t necessarily indicate a successful campaign. For this reason, the Wallet Platform provides a library of payment objects, each with a concise name and use case. We recommend using vouchers when motivating your subscribers and customers. These are far more useful for developing rapport since each voucher can be crafted to each recipient’s specific needs and preferences. Coupons: ✅ Used by anyone Vouchers: ✅ 1-time use only #coupons #vouchers #discounts #digitalmarketing #customeracquisition #customerretention #digitalwallet #crm #customerlifecycle #marketing  |
