Selling higher store credit/gift card/gift certificate/voucher at a lower price is nothing but offering it at a discount to your customers. Example – $500 gift card for $400. Your customers love discounts and you know it!
And if you are thinking of doing the same on your WooCommerce store, this article will guide you.
Why offer discounts on store credit?
- Create that ‘urgency’
- Save money
- Make the product affordable
There are instances when:
- Your customers want to buy a product but are holding back due to the high price
- Your customers want to make the purchase but waiting for some exciting offers to save some money
- Your customers want to buy something but avoid it due to no urgency
So, when you announce a gift card or store credit at a discount, these customers leave no stone unturned to finally make the purchase.
They not only bring more sales but also the much-needed reach out of your brand to more people through WOM.
If you’re determined to make the best use of this strategy, WooCommerce Smart Coupons is everything that you need.
How to issue high-value store credit at a discount?
WooCommerce Smart Coupons is a powerful plugin with an ‘all-in-one’ solution for gift cards, store credits, discount coupons and vouchers offering the most diverse and crucial functionality of WooCommerce coupons.
It gives two options to your users:
- To buy credits for themselves
- To give the store credits to others
Let’s understand how you can set up a higher store credit at a lower price with Smart Coupons. Proceed as follows:
- Go to WooCommerce > Marketing > Smart Coupons > Settings
- Enable the ‘sell store credit at less price’ setting
- Create a product using the below steps:
Note – Since store credit coupons are sold as a product, you need to first set up a product.
- Now, once your product is created, set the amount of the store credit coupon as the regular price of the product.
- After doing this, set the sale price as the price you want your customers to pay (basically the discounted price).
Done. The user would see both the regular and sale price of the store credit.
Important note –
For all the coupons in your store that are eligible to be used to buy this store credit, set the usage limit per user as 1. If you don’t set this and keep it open, your customers will get the store credit or the discount offer multiple times resulting in a loss for you.
Offering store credits and gift cards at a discount is an evergreen marketing strategy that will never go outdated.
As a WooCommerce store owner, you must leverage it by offering attractive offers to your customers on special occasions like holiday season, sale, festivals and such using Smart Coupons.