Pros and Cons of Coupon Codes: Are They Worth Your Time?

Are coupon codes worth your time? 80% of consumers are more likely to shop from a new brand if it provides a discount coupon, and that number jumps to 89% for millennials.So, yes, in short, coupon codes are an effective marketing tactic...But there’s a caveat.While coupon codes are desirable from a consumer’s perspective, there are numerous downfalls to this marketing tactic that can have an ill effect on your brand.I put together this article to help you weigh up the pros and cons of coupon codes and make an informed decision about whether they are right for you.The Pros of Using Coupon CodesLet’s start with the positive side of things - the pros.As I mentioned in the introduction, coupon codes are extremely popular with consumers, especially in the eCommerce industry. They’re also an excellent way for brands to engage new audiences, re-engage stagnant customer groups, and create a spike in sales.Here are the pros of using coupon codes:Attract new customers and increase revenueConsume...