If there’s one thing we know here at Coupon Toaster, it’s the power of discount codes. Wherever there are prices or baskets being discounted by a voucher offer or discount code, we’ll find it and compile it here. We’ve seen the whole range over the years, from limited five percent discounts to hefty 80 percent discounts on everything you buy. However, discount codes aren’t the only form of marketing that can help bring in customers.
Easily, the most overt industry for leaning into a similar form of marketing is iGaming. For online casinos, it’s essentially a necessity to present a competitive and eye-catching welcome bonus. Over the years, hundreds of different-sized and formatted bonuses have risen to the fore. Each offers a different kind of perk, but all of them operate in the same way and with a similar purpose.
Perhaps the most fundamental difference between discount vouchers and bonuses is that one side is offering you savings or money off while the other is offering what equates to an increase in playing funds. In some ways, these are two sides of the same coin, but we’re going to explore if they differ further and if one may be better than the other.
Variation to appeal to different audiences
Casino bonuses have evolved tremendously over the decades. They used to vary based on the size of the reward and the terms and conditions. Now, we have very distinct forms of bonuses that allow the industry to appeal to a broader range of people while also letting individual platforms tailor their own offers to appeal to specific audiences themselves.
On the list of 656 casino offers assembled by Casino Bonus CA, the vast range is there to see. Some stick to big deposit bonuses or free spins, others combine different bonuses, and some lean into the new drastically different bonus formats. The best example of this is with the no-deposit bonus. Other bonuses require a deposit to unlock. These newer bonuses can be claimed simply by making an account. It makes the platform incredibly accessible.
Tailoring the bonuses helps platforms to find their target audiences. Similarly, eCommerce sites offering vouchers can align them to appeal to certain customer groups. A fashion store, for example, may want to promote its luxury sunglasses, and so, it creates a specific discount code for its high-end selection to appeal to the big spenders on sunglasses.
Commence customer retention by opening the door
For many online casinos, the path to customer retention begins by offering a multi-staged bonus. Of course, in iGaming, players can easily jump between platforms and take whatever bonuses they want. So, customer retention is the ultimate goal. To start this, a site may offer a matched bonus for the first, second, and third deposits, with each one awarding a higher match.
Discounts tend to only apply to that one purchase. After that, the discount code disappears and the customer will have to pay full price next time. There is a way to enhance this, though. Stores can either offer a kind of digital voucher book for discounts throughout the year. Alternatively, access discount codes – regardless of size – can be the incentive for customers to sign up to the newsletter – which itself can also encourage repeat custom.
Encouraging reciprocity
Reciprocity is the core behavior that all discount codes, bonuses, and free samples are aiming to tap into. Otherwise, the cost being incurred by the business wouldn’t be worthwhile. While it’s not an exact science and the right offer needs to be in place, as Meriam Webster explains, it’s a strong social norm that rewards positive actions with positive actions – and negative actions with negative actions. So, if the discount or bonus is good and offers true value, customers will feel more inclined to return the positive experience by buying more or playing more.
Both forms of marketing offer very similar things. Discounts and bonuses can be varied to appeal to different audiences, result in retention, and lean into the reciprocity principle. What matters the most is creating a marketing plan that allows a business to stand out and be competitive in its contemporary space.
