What are Promo Codes and Where to Find Them?
By Space Coast Daily // February 19, 2020
Allow me to paint you a picture really quickly: a family with lots of kids. These kids have the ability to make their parents really happy with their love.
But before they give this love, the parents have to satisfy them in numerous ways. But these kids are raucous and hard to please, and what’s more, they have limited love to give, and as such can only give it to one parent at a time. So parents have to get super creative.
What does this have to do with promo codes, you ask? Well, it’s quite simple. I employed that analogy because that is exactly how it is in marketing. The consumers are the kids. The sellers are the parents. And what sellers want from consumers, instead of love, is the money.
Parents employ little tricks and treatments to get their kid’s attention, marketers employ promotional codes.
What Are Promo Codes
Promo codes are alphanumeric sequences given to select buyers by marketers hoping to incentivize them to make more sales. The arrangement is quite ingenious and widely adopted due to its effectiveness in ensuring that both sides get a good amount of advantages from it.
Buyers get to enjoy their products with a discount, while sellers get to make tangibly higher sales volume and increase their brand popularity and recommendations. Win-Win.
The psychology behind promo codes is pretty simple. Consumers most of the time are willing and able to buy a product, but they choose not to do so due to the fact that:
• They have no incentive for it.
• They feel the price is just a little bit too high for them to commit.
In one fell swoop, promotional codes solve these problems by giving an undeniable incentive and lowering the price in such a way that buyers can afford the product and sellers can still make a profit in the long-run.
How Promo Codes Fit in a Cart
• Log-In – You log-in to the product website, browse the pages and select the specific product you desire.
• Confirm – You should confirm that that is indeed the product for which the promo code applies, and add to your cart.
• Check-out – You should then proceed to a check-out point where you see the package summary. Confirm that the information displayed is correct and move on to the next step.
• Input Code – You should then find an input area specified for the code.
• System Confirmation – The system confirms the validity of your code and changes the price to reflect this.
• Make Payment – You then make payment of the adjusted price and you’re done.
Where to Find Them
Promo codes are scattered all over the internet and can be obtained via private discounts, with a simple google search, personal newsletters, on various coupon sites, and so on.
Conclusion
Employing promo codes is an effective marketing strategy that is beneficial to both marketers and final consumers. They are quite popular due to the fact that they are very easy to use and just as easy to transmit and are available for use online for those who know how to get them.
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