Buy now offers are purchased by the customer instantly, which means the business owner realizes revenue immediately off that product or service. Even if the customer never comes in to redeem their purchase, the business owner still retains the revenue made from that sale.
New customers are less likely to buy a product from a business they’ve never worked with or heard of, which is why there is typically less volume with a buy now. However, the volume that you do get translates to 100% revenue for your business.
Typically, you would use a coupon if you have a small email list. Coupons are a great way to collect emails from customers because there’s a small barrier of entry – no commitment. All the client needs to do is provide their email to claim the offer, they don’t need to make an actual purchase.
With coupons, you get a higher volume of customers claiming your offer compared to a buy now, but the percentage of customers actually redeeming your offer from a coupon is much smaller. They haven’t paid for the product or service yet, so the likelihood of them coming in decreases.
Since revenue isn’t immediately recorded with a coupon the way it is with a buy now, you have to track it manually. Check out this article to learn how to track coupon redemptions in FetchRev.