Promo code can be defined as a computer-generated code, consisting of letters and numbers or specific codes that may be used to get a discount when paying for an item. Promo codes are usually offered to promote the stores or to discover the sign up bonus by e-commerce businesses like popular online websites such as the following:
Online Shopping Websites: Amazon, eBay, etc.
Gaming Websites: Steam, rockstargames.com, etc.
Digital Music Stores: iTunes, Spotify, etc.
How do promo codes work?
Promo codes can either be a fixed discount, a percentage off to the entire purchase, freebies or offering free shipping costs. Some stores offer special promo codes to their registered customers for an extra discount. This is one of the best marketing strategies that can give a customer a reason to buy a product.
Is it relevant to let someone use your promo code? It depends. If the promo code is not designated to a specific person, well then yes. It is important to be aware that promo codes are not transferable and can only be used once. It cannot be traded for cash or any items you desired. Tax and shipping costs are not conventionally included on promos unless the promo code itself is a free shipping promo.
Promo codes only authenticate future purchases and are not reasonable for the previous purchases. Promo codes have expiry dates because it is usually a limited offer. The expiration dates are always announced so the customers will purchase right away. When a promo code expires, it is automatically considered invalid. It is not advisable to avail promo codes but very advantageous to avail promo codes from time to time because it saves huge amount of money in the long run.
Here are some of the promo offers:
Money Off Promotional Codes – this promo provides a fixed discount or exact amount of money-discount, depending on the currency
Percentage-off Promotional Codes – this promo provides a fixed percentage discount, for example, a store offers 20% off if purchased 2 items.
Multiple Promotional Codes – This promo is an unlimited offer until its expiration date. This promo usually offered by fast-food chains such as McDonald’s, Jollibee, etc.
Singe Promotional Codes – Promo codes that can only be used once. Although, some single promo codes offer for 2 or more people.
Unique Promotional Codes – These promo codes usually offered to specific people such as loyal customers, new customers, etc. This strategy will fetch new customers.
Types of Promo Codes
- Public Codes
Public promo codes are offered visibly or advertised everywhere. The majority are published on their official websites, social network pages, public places, and small flyers. Fast-food chains like McDonald’s are usually handing over flyers to random customers to offer their promo discounts for a specific period.
- Private codes
Private promo codes are usually offered to specific customers. It can be sent via emails, private messages, etc. It is commonly offered to loyal customers and first-time customers. By using this strategy, the customers will be encouraged to buy often and also lead new customers.
- Restricted codes
Restricted promo code or special promo code is usually a direct offer for specific people or customers and can only be used once. For instance, they might offer a special promo to a customer as compensation for a delayed shipment or reward gift as one of the top spenders in the store.