As an Amazon seller, you know that keeping your prices low is key to success. But it's important to find the right balance between maintaining a competitive edge and offering fair prices to your customers. One way to do this is by using coupons and promotions. In this guide, we'll teach you everything you need to know about running promotions on Amazon, including how to create coupons, what types of promotions are available, and when it's best to use them. Let's get started!
What Are Amazon Coupons?
Amazon coupons are a relatively new discounting technique for merchants. They enable you to provide customers with a discount (either a money amount or a percentage off). When your site is up and running, your potential customers will notice a discount button directly below the item's price. Customers can use the coupon by just clicking on it.
Amazon discounts are not the same as promotional codes, only displayed on product detail pages. In addition, the vouchers are 'discoverable' on the site, which means they can increase traffic to your listing.
Amazon also aids in the promotion of seller coupons by displaying them within:
Results from Amazon's search
The product detail page's price box
The shopping cart of a customer
Amazon's coupon section (coupons.amazon.com)
Another appealing feature of coupons is that they operate on a set budget, so you do not have to worry about selling all of your items at a discount. So, if you establish a $100 budget for Amazon coupons, they will cease displaying them once the customers have redeemed $100 in savings.
For sellers, there are a variety of promotions on Amazon that offer a lot of discounts. There's something for everyone, from Prime-only deals to Social Media Promo Codes to Coupons to Promo Codes.
The tools we'll explore here are the most effective, even though they're all free (apart from the price discount you'll need to employ). In this article, we'll go over which discounting and deal types are the most effective promotions on Amazon and when you should use them.
To get a set percentage off their listings, customers can utilize Promo Codes, also known as Discount Codes or Percentage Discounts. These are distinct from Coupons (see below) in that a Special Promo Code must be copied to be used (a Coupon is clicked).
Off-Amazon advertising initiatives frequently include promo codes. Consider Messenger campaigns, insert cards, and the like. You use a discount code in an ad to entice visitors to go to Amazon and make a purchase.
Promo Codes are helpful since they allow you to have one promo code for everyone, many promo codes (e.g., a unique code sent to people via a Messenger campaign), or no regulation. However, Promo Codes can also be risky — there are numerous examples on the internet about vendors mistakenly selling out large swaths of inventory due to an error in publicly publishing a significant percentage of Coupon codes and it becoming viral.
The main disadvantage of Promo Codes is that they have no effect on your CTR (click-through ratio) on search sites because the promo code is only visible on a limited portion of the product detail page at most.
One-Time Use Promo Code
This is a different type of Amazon Percentage Off offer. As the name suggests, a one-time promo code can only be used for one purchase. However, it does not limit the number of things a customer can purchase from you. So, if a consumer adds three products to their cart and buys them all, Amazon will apply the one-time code to each of those items. One-time codes are becoming less common among Amazon sellers, but they might be helpful when you're offering a substantial discount (think 50% or more) on a product that you don't want to be shared widely.
Buy One/Get One Promo Code
By allowing customers to buy one thing and receive a second item for free, Buy One/Get One discounts help you stand out. They're handy for high-end products, where you may give away a freebie to entice additional buyers. If you're selling a high-end sneaker, you could provide a free cleaning kit to improve the product's desirability. It's the ideal technique to provide added value to clients without lowering the main product's price.
You may use the No Code promo to create discounts that customers can use without providing a coupon code. Although this appears unrealistic, it can be effective in certain situations. For example, if you hold a Cyber Monday Sale where everyone who purchases three of your products receives a 30% discount, selecting the No Code option will save you time finding the products and remembering to use a coupon code at checkout.
Amazon Coupon Codes
Customers receive a dollar discount when they use Amazon Coupon Codes. These will appear in product detail pages as well as search results.
They're also visible on product detail pages, but they have to be "clipped" to apply the discount (and many people do not clip these Coupons).
The fact that coupon codes on amazon appear on search results pages can increase click-through rates. Coupon codes on amazon must save you between 5% and 80% off your current pricing.
Amazon Social Media Promo Codes
You can use Social Media Promo Codes (possibly the most misnamed feature on Seller Central) to construct landing pages for either a single product or a group of products with a discount applied.
The following is an example of the page to which users will be routed. Although this sample website has one product, it may have many more.
Choose a discount for one or more products, and you'll be given a unique URL to direct clients to. The deals are set up similarly to Promo Codes.
My preferred method of providing discounts to a group of customers is through social media promo codes. They're more convenient to utilize than a Promo Code, and you don't have to drive traffic to your product description page.
Amazon Coupons for Social Media Advantages:
Customers are directed to a separate landing page rather than your product detail page (which reduces the chances of hurting your conversion rate)
It can be used for a variety of things.
You'll get a one-of-a-kind URL that's simple to share.
The discount code is applied immediately.
Those who know the URL can see the promo code (i.e., it is not visible to all customers like coupons are)
Prime Exclusive Deals are discounts available solely to Prime subscribers.
All Prime members get access to Prime Exclusive Discounts. They appear in search results, similar to coupons, as strikethrough pricing with a savings message. They're also eligible for an additional badge on Prime Day.
Prime Exclusive Discounts are most effective during Prime Day when you can receive more prominent placement in search results and specific Amazon sections.
Setting up Prime Exclusive Deals is a headache and necessitates using an Excel template (Inventory Loader).
The search results and the buy box display strikethrough pricing and a savings message, which may increase CTRs and conversion rates.
During Prime Day, an additional badge is displayed.
What's The Best Amazon Discount Type?
On Amazon, there is no one-size-fits-all discount type. Instead, each one has a distinct purpose.
Amazon has created several tools for sellers to give discounts on their products. This should come as no surprise. Amazon wants you to sell your items for a lower price.
As a vendor, discounts and sales have their place, but you must be mindful not to be the loss leader when selling your goods. If you're regularly using the above discount strategies in your listings (as many vendors do), I recommend factoring them into your costs. To put it another way, artificially high prices allow for further discounting.
Amazon promo codes, like Amazon discounts, are loaded with possibilities. You can, for example, utilize them to grow or increase your email list. Rather than sending them a discount code that directs them to Amazon, you can refer them to a landing page where the discount is revealed when they enter their email address. You may utilize your list to up-sell and cross-sell additional items and drive traffic to other Amazon deals if you've built up a decent list.
Specific promo codes, such as Group Claim codes, might also assist you in getting rid of a large amount of unsold inventory. You can utilize a multi-use Group Promo code to sell your merchandise quickly if you're running out of storage space or ready to close your listing. Group codes are ideal when you want many people to use the code as possible, such as during a sale event or during seasons like Prime Day, Cyber Monday, or Thanksgiving.
Boost Conversion Rate
Use both Amazon coupons and promo codes to boost your conversion rate on Amazon. Our Amazon seller consultants have generated $2 billion in Amazon revenue. They are ready to assist you in accelerating sales growth, optimizing operations, and maximizing profitability if you need further ideas on getting the Amazon Buy Box.
Running promotions on Amazon can be a great way to drive more sales and increase your customer base. But it's important to do them the right way. In this guide, we've taught you everything you need to know about creating and using Amazon coupons and promotions. If you're looking for help with fulfillment, contact Simpl fulfillment today. We'll take care of everything for you so that you can focus on what's most important - running your business!