The B2B Promo Codes feature is available to customers subscribed to the Business plan and above (on new pricing plans) or as an Advanced B2B module add-on to lower plans for USD 125/month.
Learn how to grow your business in the B2B platform by offering your customers a Promotion (i.e. promo code, discount code), which they can apply to their entire cart (or abandoned carts) upon checkout. 🛒🛍
Why use Promo Codes?
- Entice your customers with a discount, reducing the number of abandoned carts
- Encourages your customers to complete their purchase
- Generate more revenue and increase your conversion rate
- Direct impact on the overall shopping experience with both prospective and returning customers
Your customers are looking for the best-priced products when shopping so this will be offering a promo code will be an incentive for them to purchase from your B2B store over others. 🤑
For e.g., here’s a store offering their customer a 5% discount with promo code ‘5OFFB2B’.
How to create a Promo Code?
First, go to your B2B eCommerce tab and click on the ‘Visit your B2B store’ button.
You will land on the homepage of your store.
Click on the ‘B2B Tools’ on your admin panel.
In here, you will find Promo codes functionality called ‘Promotions’ and Abandoned Carts.
If you are on a Business plan and above, you will immediately be able to create Promotions. If you are on lower plans, this feature will not be available for use. Please speak to your Account Manager to upgrade your plan or purchase the add-on.
Click on the ‘Promotions’ tab. You will see a list of all the promo codes with four different statuses: Active, Scheduled, Disabled, and Expired.
- Active: the promotion is live for customers’ use
- Scheduled: the promotion is not currently active but will go live as per the scheduled start date/time
- Disabled: the promotion has been switched off/disabled by seller
- Expired: the promotion’s end date has lapsed and thus is no longer valid
Skip over to understand the ‘Active Period’ part below which is what dictates the four different statuses of promotions you see on your Promotions Tab.
Navigate to ‘Create a Promotion’ and the Promotion form will load.
There will be three sections with guided information on the left side of the panel to help you with the creation.
You will have four parts to fill in this section.
- Promotion Name: name of the promotion you are offering (e.g. 5% Off Online Exclusive)
- Discount Code: the promo code your customers will apply during checkout if applicable (e.g. 5OFFB2B)
- Value: the discount amount which will be a flat percentage (e.g. 5 %)
- Notes: any information about the promotion to bear in mind or refer to when needed.
The Promotion Name and Notes are for your internal records only, and will not be visible to your customers.
This is where you indicate which one of your customers will enjoy the promotion you are creating. Jump ahead to understand how successive discounts work in TradeGecko.
You can choose from three customer eligibility options:
- All Customers (i.e. this option applies to everyone shopping in your B2B store)
- Specific Customers (i.e. this option applies only to the customers you have manually selected)
- Specific Customer Groups (i.e. this option applies only to the specific customer groups you have created in your account, for instance, Tier 2 VIP customers who are based in Singapore)
If your customers are already enjoying a discounted price based on the rules set in TradeGecko (i.e. custom price lists), any additional promotion(s) they are eligible for will be added on top of that and calculated as a successive discount.
An example of Successive Discount
Following the example from above, let’s take a look at the discount breakdown and calculation in TradeGecko.
Haironia Pte Ltd (your customer) is already part of a customer group (i.e. Loyalty Group), receiving a default discount of 10% on TradeGecko. You have now created a new Black Friday Boom promotion (i.e. 5OFFB2B) for all your customers. This means that Haironia Pte Ltd will be eligible for a 14.5% discount off their total cart value.
⤵️ Here's a breakdown of the calculation
The first default discount is 10% and the second discount is 5%.
The formula for Total discount = [ 10 + 5 - (10*5) / 100 ] %
= (15 – 150 / 100) %
= 14.5% total discount
Generally, promo codes convey a sense of urgency, which means they will not be applicable forever. Here, you can set the time frame and usage limit availability to your preference.
- Usage Limit: the number of times the promotion can be used per customer. The is no max limit restriction.
- Active Period: the time frame such as one week or even by the end of the current month they are offered in. You can also set the time for promotions that are time-sensitive (e.g. Black Friday Sale)
You cannot edit promotions once it becomes Active. You can only Disable the promotions if need be.
Now that you are all set, click ‘Create Promotion’.
And you’re all done! 🥳
What will your Customers see?
If you are wondering about how the shopping experience would look like for someone shopping in your store, take a look below.
Once the buyer is ready to checkout, they will click on the ‘Add a promo code’ button on their cart. 🛒
Then, they will input the promo code and click ‘Apply’.
Once applied, they will proceed to complete their checkout as per normal, but this time enjoying a good discount and as a happy customer! 🤑🙆🏽♀️🙆🏼♂️