Discount coupons and promo codes are one of the most important strategies to make your company go global. Popularly known as promotional codes which was first used in 1886 by the soft drinks company Coca Cola, this has become a prime business growth idea .
“They don’t want to hear about unless they have heard of you .” This quote probably describes promo codes the best. When a company is emerging and is new in the consumer market, it has to make a name for itself and it has to put the company in the market. Then these companies use Promo Codes or Discount Codes to put marketable ideas out in the open which will attract customers .
For example, about three to four years ago in India, promo codes of cab hiring companies were flowing in all the major cities in India. Ola , Uber , Meru , etc. were trying to establish their companies in the market that had just been dugout from the grave in India . You must have been thinking as to how these companies were expecting to make a profit if they gave out free rides and rides at half the price.
Well they had another idea , the free rides was to earn customers and to make a name for themselves. While you were availing their free rides , you were also getting addicted to their comfortable and hospitable services. Promo codes also help them put their business out in the street which helps it grow in brand value. I’m pretty sure that now if you think of hiring a cab your brain always gets transferred to these cab hiring services. Well, mission accomplished!
Companies generally have a larger plan in mind when they give out these discount codes. For example if you are getting 200 rupees off on a product worth 800 rupees , you think that you are acquiring a product for 600 rupees but actually what is happening is that the company is acquiring a loyal customer who is impressed by their quality and is addicted to them. The companies are going to earn a lot of profit from you in the coming days because it has become a trusted brand of yours . Slowly and slowly they will decrease the discounts on their products but that doesn’t matter anymore because they have grown as a brand and have made a mark for themselves in the market .
Ola previously used to give 150 rupees for one referral but now it give only 50 rupees per referral !