As consumers, we’re pretty aware of constant deals and promotions that target us so accurately it’s almost scary. For example, have you ever been online shopping and left an item in your wishlist or cart, and a day later received an ad and/or discount for the same item?
It’s no coincidence.
Companies artfully integrate offers and deals into their marketing strategy in order to boost sales. Recent studies show that 68% of consumers say digital coupons build brand awareness, while shoppers who use coupons spend 37% more than their counterparts. It’s clear to see how even the smallest push toward making a transaction can drastically affect purchase behavior.
You may be wondering how offering discounts leads to greater ROI and profits. It does seem counterintuitive, however, the idea is that consumers will end up spending more than they would have without the deal. Therefore, your business has more money post-discount than it would have had without it.
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