In Privy, you have two options when creating coupons - Master or Unique. Both options allow you to offer incentives to your customers. However, key differences in how the coupons are managed and redeemed may make one more appealing than the other for your particular situation.
A Master coupon is a single coupon code given to everyone who signs up for your Privy Convert campaign or receives your marketing message.
- Advantages: The primary advantage of this coupon type is that it's easier to manage and deploy across multiple channels. Once a Master code is created, it can be incorporated into various campaigns, emails, texts, and other types of content by simply referencing the code value. This value can then be shared repeatedly with very few limitations concerning its redemption.
- Disadvantages: However, a Master coupon's shareability can also be its biggest drawback. Individuals outside of your subscriber list can redeem and share the code, making reporting on a particular channel's success quite difficult.
To create a Master coupon, please check out this guide.
A Unique coupon is a coupon generated and assigned to each individual that signs up for your Privy Convert campaign or receives your marketing message.
- Advantages: The primary advantage of this coupon type is control. Unique Coupon Codes dramatically reduce the risk involved in putting a discount code out in the world because each code can only be used once. That means that the only one who can increase the prevalence and the impact of a coupon is you. Furthermore, you have more flexibility in how you handle code expiration dates. Instead of just setting an end date for your sale, you can use relative time and date windows to drive urgency and action on your site. For example, if someone abandons their cart, you may want to include a unique code that expires 48 hours after they leave. Or you may want to set a new shopper discount to expire seven days after they first join your list.
- Disadvantages: Conversely, the lack of sharability and reliance on new code generation can be considered its biggest drawback. Unique codes cannot be easily incorporated into channels that aren't directly synced with your Privy account or e-commerce store and aren't suited for campaigns that encourage usage beyond your existing subscriber list.
To create a Unique coupon, please check out this guide.