Have your promotions gone rogue?
Are single-use promotion codes being redeemed on repeat? Have your customers figured out how to play the opt-in game? Are expired promotions being successfully redeemed at check-out? These actions are not uncommon. In fact, estimated annual losses for promotion fraud are between $300 and $600 million dollars. From copying paper coupons to forging content, there are many ways for bad actors to modify offers to their advantage, but companies are getting smarter and implementing controls that prevent such losses.
One common method is to abuse multi use offers – the multi-use codes included in many promotions don’t expire after a redemption, so customers can use them repeatedly and share with family and friends on social media or larger websites.
Protect your promotions against abuse and overuse while minimizing financial risk to your business with these 3 quick tips!
Tip# 1 Try Single Use Codes
Single use codes expire after use, controlling redemptions and maintaining share of margin on each purchase.
Tip# 2 End the Opt-In Game
Don’t let customers opt in and out of your program to get the same discount. Some brands set a limit of 6 months between opt ins.
Tip #3 Manage Validity
Invalid offers inevitably find their way to your point of sale. A content management system that allows you to change details or expiration on the fly can fix this common problem.