Amid the booming landscape of e-commerce, where every click can lead to a new venture, for many Sharetribe symbolizes a promising solution for aspiring entrepreneurs and established businesses alike. This platform has become the foundation for countless online marketplaces, each as unique as the visionaries behind them. From niche artisanal goods to revolutionary service exchanges, Sharetribe's malleable framework bends to the will of its users, transforming abstract business concepts into thriving digital ecosystems.
Yet, in this realm of endless possibilities, one feature has remained elusive: the humble discount code. While Sharetribe doesn't offer this functionality out of the box, it whispers promises of customization to those willing to venture beyond the standard toolkit. For marketplace owners wondering how to add a discount code in their Sharetribe marketplace or online store, this absence is not a dead end, but rather an invitation to innovation.
Why do you need a discount code on the Sharetribe marketplace?
Discount codes act as silent salespeople, working 24/7 to:
- Lure window shoppers into becoming paying customers
- Reward loyal users and keep them coming back for more
- Spark a sense of urgency and drive immediate action
- Attract new hosts and sellers to your platform
- Differentiate your marketplace from competitors
By integrating marketplace discount codes, Sharetribe website owners can boost conversion rates, reward loyal customers, and create buzz around their platform. About 67% of shoppers have made unplanned purchases due to finding a coupon or discount. Customers who use discount codes tend to spend over 24% more than those who do not. Additionally, discounts influence purchasing decisions for 93% of US customers, highlighting their importance in retaining customers. It's obvious that embracing marketplace promo codes can be a game-changer for your platform, driving both immediate sales and long-term loyalty.
How we implement different types of discounts on Sharetribe marketpalces
Not all discount codes are created equal. There's a wide variety of types available, each with its own unique benefits and limitations. If you’re using Sharetribe and want to incorporate multiple marketplace discount codes, Roobykon is here to help. We offer innovative methods to implement various discount models, from rewarding long-term bookings to attracting new hosts and leveraging third-party promo services. Our expertise ensures that adding these features to your Sharetribe marketplace is both effective and hassle-free.
Host discounts for long-term rentals
If your marketplace focuses on rental services, creating discount codes for long-term rentals can be a great way to incentivize guests. Imagine a guest who is planning an extended stay - our solution allows hosts to set up a discount specifically for these long-term bookings.
How it works:
- Hosts can configure a discount that applies automatically when a guest books for an extended period.
- This discount is visible during the booking process, making it an enticing option for guests looking for longer-term accommodations.
Welcome discounts for new hosts
Attracting new hosts to your marketplace can be a challenge, but with a well-structured welcome discount, you can make it more appealing. This type of discount serves as an incentive for new hosts by offering a discount on their initial bookings.
Here’s what we can do:
- Set up a platform rule where new hosts receive a discount on their first few bookings.
- Guests booking these listings will automatically receive a discount, thanks to this special promotion.
Third-party promo codes
For a more flexible and dynamic approach, integrating with a third-party promo code service can be highly effective. This allows you to manage and distribute discount coupons in various forms, such as percentage off or fixed amounts.
Benefits include:
- Creating promotional campaigns and distributing coupons through email, social media, or as rewards for certain actions.
- Implementing this involves integrating with a third-party service and setting up a reimbursement system for hosts. It offers a high degree of flexibility and control over your promotional efforts.
Flexible discount settings by hosts
Empowering hosts to set their own discount rules can lead to creative and tailored promotions. Our solution allows hosts to:
- Configure discounts based on the duration of the booking. For example, a discount can be applied for bookings that exceed a certain number of days or hours.
- Set up tiered discounts where the discount increases with each additional day or hour beyond a predefined threshold.
How it works:
- Hosts have control over the specifics of their discount offers, allowing them to attract more bookings and reward longer stays.
- This flexibility can lead to increased host engagement and higher guest satisfaction, as guests appreciate personalized and value-driven offers.
Tips for running an effective discount code campaign
Create a sense of urgency
Consumers can make faster decisions when they are informed that a certain coupon code for a discount is only valid for a certain period. Promotions with limited time also appeal to the consuming public by giving the feeling that they can only get the deal if they act quickly. Include countdown timers or clear expiry dates in the campaigns to increase the feeling of scarcity.
Optimize for mobile users
Ensure your discount codes are as easy to use on a smartphone as they are on a computer. This means big, tappable buttons, simplified checkout processes, and maybe even app-specific discounts. Remember, a frustrated mobile user is just one thumb-swipe away from abandoning their cart.
Email marketing
Email might seem like the dinosaur of the digital world, but when we talk about discount campaigns, it's surprisingly effective. Build an email list and use it to send personalized discount codes. But don't just blast out generic "SALE!" emails. Get creative! Send birthday discounts, celebrate customer anniversaries, or create themed campaigns tied to holidays or events.
Analyze performance metrics
Establish clear KPIs before you launch your campaign. Track redemption rates to see which codes are hot and which are not. Monitor average order values to ensure you're not just selling more, but selling smarter. And keep an eye on customer acquisition costs – because a discount that costs more than it brings in is just a very elaborate way of losing money. To help you understand this better, we've prepared an easy formula to guide a discount campaign.
How to create a discount code on Sharetribe?
As you see, the creation of discount codes on your Sharetribe marketplace can be a powerful tool to boost sales, attract new customers, and reward loyal shoppers. While the process may seem daunting, with the right approach and tools, it can be a rewarding experience.
Roobykon is here to help you every step of the way. Our company simplifies the creation, management, and tracking of discounts and marketplace promo codes, allowing you to focus on growing your business. We've successfully implemented discount codes on notable Sharetribe marketplaces such as Drive Lah, Drive Mate, and Rentalo. With our team, you can easily implement various discount codes on Sharetribe platforms, automate processes, and measure the effectiveness of your campaigns.
