In times of low sales, attracting buyers can be challenging. Coupons offer an effective solution to appeal potential buyers with discounted purchases, yet it’s important to acknowledge that like any marketing strategy, it also comes with its own set of risks. With the help of our coupons widget and its ease of use, spreading the word about these offers becomes more accessible, and allows creators to increase their sales. Let’s take a further look and learn the best way to use coupons in Streamloots.
Table of contents
Coupons are promotional codes designed to provide discounts on card packs to viewers. There are two main types:
- Free packs: This coupon type enables you to gift packs through a unique link generated on the platform. Each time a viewer clicks on the link, they receive a free pack until the coupon expires. It’s worth noting that each coupon can only be claimed once per user.
- Discount percentage: With this option, you can generate a discount code that users can apply when buying packs from your collection. Discount percentages require a minimum purchase price to activate the coupon.
When to Use Coupons
Coupons serve as effective tools for boosting sales and running promotions, but it’s crucial to find a balance to avoid diminishing the value of your collection.
Tips for Discount Coupons:
- Create discount codes ranging from 5% to 20%, reserving larger discounts for VERY special occasions.
- Ensure maximum visibility for discount codes by promoting them on social media, incorporating them into your stream title, sharing them through chat or displaying them on screen.
- While significant discounts can drive sales, be cautious not to inundate viewers with too many cards, potentially reducing the perceived value of interactions. It’s important to maintain a balance.
- Craft memorable discount codes using simple words to facilitate viewer usage.
- Consider offering a coupon to compensate viewers if you plan to remove cards from a collection or discontinue an entire collection.
Tips for Free-Pack Coupons:
- Limit free pack distributions to a select number of users to enhance coupon effectiveness, prompting viewers to pay closer attention to chat or social media during promotions.
- Utilize free-pack coupons when receiving a host or raid from another streamer, leveraging the opportunity to introduce your Streamloots collection to new viewers or potential followers.
- Occasionally, reward your loyal community with a free-pack coupon link shared in chat or on social media. Additionally, set goals such as “unlocking a coupon with 5 free packs if we reach 40 purchases” to further engage your audience.
- Exercise caution against excessive pack giveaways, as they may diminish the perceived value of your collection, which you’ve worked hard to curate.
How to Configure Coupons
To create a coupon, go to Coupons on the left side menu. For each coupon you create, you can configure the following features:
- The number of users that can use the coupon: Set the number of times that a coupon can be used before expiring. Remember, it’s one use for each user.
- Coupon code: You can rename the coupon to make it more accessible and easier to use.
- Collections in which the coupon will be redeemable: Select specific collections for which you want the coupon to be used.
- Expiration date: Set a specific expiration date and time to create a sense of urgency.
Risk of Excessive Use of Coupons
Using coupons excessively can have drawbacks, including:
- Diminished Value: Giving away too many free packs can lower the perceived worth of your cards.
- Revenue Loss: Offering too many discounts may reduce your income. Finding a balance is crucial for profitability.
- Reduced Value Perception: Continuously discounting items can make customers less willing to pay full price in the future.
- Customer Frustration: Customers may become upset if they can’t use expired or invalid coupons, potentially harming their trust in your creator brand.
In short, our aim is to keep your product valuable. We know your passion drives your business. By using coupons wisely and balancing sales, you’ll go far. We’re here to help, ensuring your products stay valuable over time.
Configuring the Coupons Widget
You can access the Coupons Widget in your Coupons section. There, you will see a Configure Alerts option. Before configuring your Coupons alert, make sure you’ve already added your alerts URL as a browser source in your broadcasting platform (like OBS).
In this configuration panel, you’ll be able to customize your alert and test it to ensure that everything works correctly:
Triggering the coupon alert must be done manually to allow you to decide when to activate and show the alert. To do this, all you have to do is click on the megaphone icon:
3 Creative Ways to Use It In Special Events
There are many ways to use your coupons to spice up your streams, and the widget allows for some new creative takes to switch up your content. Check out some ideas below!
Create a Happy Hour on Stream
During Happy Hours, you can double up on creating an irresistible offer for your viewers by setting a special price on packs, doubling the incentive for your community to take advantage of special happy hours.
If you’ve considered that a specific collection is precious for viewers, Happy Hours are a great time to do so, as it will still allow viewers to try them out for a lower price.
Limited Collections for a Discount Code
You can tie the countdown of a brand-new discount with a unique collection only available to be purchasable when the corresponding code is up. This is a great way to add value to the time in which a code is up.
Remember that you don’t need to make exclusive collections extremely complex: one great tip from streamers is to create a theme around it and customize specific sound and GIF alerts. That can be enough to make it stand out from your other regular collections.
You can also think of some last-minute deals that make the opportunity unmissable. Some examples of these could be increasing the number of cards available per pack, the probability of the rarest cards coming up, or even allowing only legendary cards to be drawn for the final packs purchased with the discounts.