Coupon code generation sites. They seem like a great idea, right? Wrong. Generating your own coupons has many limitations and could open your business up to risk of fraud. Here we discuss the limitations of coupon code generation sites and present alternative solutions.
1. Risk of Fraud
Coupon fraud costs your business money and also increases costs for customers. Examples include:
· Claiming incorrect products
Some shoppers may intentionally or accidentally claim incorrect products against coupons, such as claiming a 500ml bottle of shampoo on a coupon for a 250ml bottle.
· Coupon modification
Such as changing the coupon value, code or expiration date
· Counterfeit coupons
Bogus coupons can be created by counterfeit rings and sold to you on sites like eBay
· Data phishing
Fake coupons that are too good to be true often circle on social media. These cowboys ask for personal data in exchange for the coupon.
Brands and companies lose control of their promotions when coupon fraud occurs. With code generators they are unable to measure the actual effectiveness of their campaign and can discount more product than they initially accounted for.
Eliminating coupon fraud
A reputable coupon system provides protection against codes being used multiple times as well as assurance that only qualifying products are being purchased against coupons. Eagle Eye Promote generates unique single or multi-use codes in unlimited formats which are then validated and redeemed securely in real-time via multiple channels including online, mobile, self-checkout and Point of Sale (PoS).
2. Lack of customer data
Without shopper data it’s impossible to create promotions that truly resonate with your customers. According to our latest whitepaper 24% of 18-24 year olds quit loyalty schemes due to generic communications being sent to them. Generic promotions threaten loyalty and personalisation is key. In fact 25% of consumers stop using loyalty programs due to a lack of personalisation.
You can collect and leverage customer data by connecting external systems to your loyalty scheme. With loyalty software customer data is delivered in real-time to CRM systems, allowing for detailed analysis of consumer activity to enable targeted and personalised offers.
3. Fragmented customer experience
The consumer data you collect from your promotions should inform the bigger marketing picture. By using coupon code generators you miss out on valuable data collected from cross-channel interactions. In turn your customers can have a disjointed brand experience which isn’t tracked.
With connected promotions software you can create a single customer view and gain insights into the online/offline journey. In understanding how your customers behave and how they like to be contacted you can tailor promotions to maximise upsell and cross-sell opportunities and tell a story with your messaging across platforms.
You can connect the customer journey through a connected promotions platform. Create unique coupon codes with Eagle Eye Promote, build loyalty rewards with Eagle Eye Reward and communicate your promotions across multiple channels with Eagle Eye Engage. Find out more and get in touch for tailored recommendations today.