Promo Code Strategy and Tracking

Promo Code Strategy and Tracking

Why do we use promo codes?

• To create exclusivity• To avoid giving things away

And most importantly...

• For tracking!

Promo Code Strategy and Tracking

Where do we use promo codes?

Everywhere...

Promo Code Strategy and Tracking

Newsletters:

Promo Code Strategy and Tracking

On CPAP.com: Banners

Promo Code Strategy and Tracking

On CPAP.com: UpSellIt

Promo Code Strategy and TrackingPromo Code Strategy and Tracking

On CPAP.com: Product Pages

Promo Code Strategy and Tracking

Stuffers:

Promo Code Strategy and Tracking

Web Ads:

Promo Code Strategy and Tracking

Discount Types

• Most common: free shipping• Flat rate shipping• % Off• $ Off• Buy one, get ____• Freebies• Combined codes

Promo Code Strategy and Tracking

Selecting Promos

• Campaign history• Customer behavior• Time of year• Competitor activity• Manufacturer opportunities• Overstocked

Promo Code Strategy and Tracking

Discount Codes Have to be Regulated

• This is why we have a single field• And have so many disclaimers• Remember how we learned how to calculate margins last week? • Which brings us to...

Promo Code Strategy and Tracking

Dynamic Codes

Promo Code Strategy and Tracking

Dynamic Codes

• Cannot be used more than once • Usually have the same first three characters• Are created by a developer• More difficult to create

Promo Code Strategy and Tracking

Testing – Removing the Element of Surprise

• Front end• Back end• Updates to existing orders• Ensuring codes work as expected• Scenario testing

Promo Code Strategy and Tracking

Tracking: Different Codes

• Each campaign is special!• We have to look at individual performance for each promo• Different expiration dates• Combining functions• Different codes could be tracking things as simple as a copy test

Promo Code Strategy and Tracking

Reporting

• # of uses • AOV• Total revenue • Total discount• Total ship costs • Total wholesale costs• Total gross margin for all orders• New vs return customer

Promo Code Strategy and Tracking

Giving Away Codes

• Affects perceived campaign performance • Can negatively affect margins • Makes future campaigns less appealing

Promo Code Strategy and Tracking

But What About Loyal Customers?

• We love our customers• Adjustments can be made • We are working on codes• We want to hear feedback!

Promo Code Strategy and Tracking

If You’re Curious, Just Ask

• We’re happy to explain• We know it’s confusing • Let us know what we can do to help• Or let us know if you have ideas!

Promo Code Strategy and Tracking

Coming Soon:

• Link in Madcow to existing promos• Will be updated with what code customers can use • Will be kept up to date by marketing

Let’s Walk Through an Example...

Promo Code Strategy and Tracking

Memorial Day is Coming Up...

• We just ran free shipping!• Customers will be traveling• Overstocked on mask wipes• Last year three competitors gave away free luggage tags

Promo Code Strategy and Tracking

What Do We Do?

• Competitors always run free shipping, so we will too• Include travel themed products that might appeal to customers more• Promote mask wipes as an add on to move inventory• Check inventory to give away free luggage tags, or one up competitors with a different promotion

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What are Your Thoughts?