Coupon code fraud puts retailers in a tight spot. Coupon codes work, especially when marketers are trying to re-engage current customers who haven’t placed orders recently. It’s an accepted fact, repeat customers are more valuable to your bottom line than new customers.
- Repeat customers spend 67% more than new customers
- Their average order size is larger than new customers’
- Referrals among existing customers are 107% greater than non-customers
- It is 6-12x more expensive to acquire a new customer than engage with an existing one
Making them feel special by sending them special offers or discounts is one sure-fire way to spark their attention. Even 52% of customers who have had a negative experience with company say they’d give them another chance if they were offered a discount and an apology. An added bonus? 82% of online shoppers say they’re more loyal to companies that offer coupon codes regularly.
Now we know that the problem with blasting out a coupon code to your existing customers is that it’s likely to go viral, resulting in discount fraud. Single use coupon codes are a good solution, but you need valuable IT time to create coupon codes and manage and track their redemption. SheerID’s coupon management technology allows you to give your existing customers one-time-use coupon codes to prevent coupon fraud. And SheerID’s validation technology ensures that each coupon code can only be redeemed once. What are you waiting for? Give us a call!