Etsy is well known and a major player in the handmade and vintage arena with a marketplace that offers curated collections and suggestions.
Etsy add Coupon Codes to tackle abandoned baskets
A strategic promotional campaign can help bring in new shoppers, retain existing customers, and increase revenue in your shop. There are different reasons you might consider running a sale such as clearing out old inventory, encouraging dormant customers to buy again and of course on recognised sale dates in the retail calendar. Whilst email marketing is effective targeted coupon codes are an important tool too.
Now Etsy have extended their coupon code capability to tackle the issue of abandoned baskets. A shopper who was incentivised enough to add your products to their basket but then not complete checkout is at least invested enough in your shop that it’s worth offering an inducement to complete their purchase. Maybe they decided the total price was that little bit too much or the shipping cost wasn’t made clear up front and put them off and a coupon code could be just the push they need to complete the purchase.
Etsy have automated the ability to send special targeted offers in the form of a unique coupon code, directly to shoppers who’ve added your items to their shopping basket. You can offer a percentage or amount off or free shipping.
When setting up your coupon codes on Etsy, you set a maximum monthly budget. Etsy will then email shoppers until your budget is exceeded.
There’s a low cost of $0.10 each time your item and coupon are included in an email and naturally there’s tracking so that you can see how your offer is performing and the revenue generated in order to judge if your coupon codes are working and the cost to acquire sales from abandoned baskets is stacking up.
The only complaint one might have about Etsy abandoned basket coupon codes is that the merchant is paying for everything – the merchants is offering a discount or shipping incentive, the merchant is paying $0.10 every time a coupon is sent (regardless whether it’s used or not) and the merchant is still paying their Etsy fees. Merchants may have preferred Etsy to cover the cost of sending coupon codes, to be charged a fee only for redeemed coupon codes or to pay an additional fee percentage only on successful sales.