To enhance sales and to attract customers to an item, incentives and promotions play a major role. The best way to this is by using coupons.
ChargeMonk offers you an ease and flexibility to give promotions, special offers and discounts to the customer with coupons.
You can use such coupons any time and the discounts will be implemented on the next invoice.
In ChargeMonk site, you can configure two types of coupons:
- Fixed Amount Coupons
- Percentage Coupons
To get more information about the nature of discounts given by these coupons, read further:
The discount type that will abstract the specific amount from either the total of the specific product, each specific product or from each unit of the specified products or full amount on the invoice is known as Fixed Amount.
This coupon can be used only one time in the billing cycle. But, in case there is a additional discount after implementing the coupon once, then an additional discount will get applied once more if subscription changes within the same billing cycle.
Assume that you gave a $50 worth fixed amount coupon to the customer, however, the sum amount in the invoice is $10. This discount will get implemented and the amount in the invoice will get $0. Simultaneously, in any instance, if the subscription is updated by the customer to a new plan worth $100, then the balance of the $50 fixed amount coupon will be $40, and when implemented to the new charge only $60 will be paid by the customer. To simply summarize it:
Checkout below given factors to examine how the "Fixed Amount" acts with the various "Apply On" features:
|Invoice||Invoice Amount||Discount Applied||Final Amount|
|Invoice #1||$10||$10(the coupon is left with a balance of $40)||$0|
Let's take a look at how the "Fixed Amount" discount type works with the different "Apply On" options.
Fixed Amount with Invoice Amount
If a "Fixed Amount" coupon is generated to be implemented on "Invoice Amount", the specific discount amount will be implemented to the total in the invoice. Such discounts will be implemented despite what the line products in the invoice are (plans with/without setup fee, addons, quantity).
As an example:
In the above example, the coupon implemented is an abatement made on the total ($314) in the invoice.
Fixed Amount with Each Specified Item
You can identify which products, plans and addons a discount should be implemented. In case a "Fixed Amount" coupon is generated to be implemented on "Each Specified Item" the amount of discount specified will be implemented separately to every item including plans, and/or addon specified. That will be quantity based for plans or addons then the discount is implemented on the total amount and NOT on each unit. There will be no discount implemented to the configuration fee of a plan.
Below given example shows that, a coupon of "Fixed Amount" (Growth Discount) has been setup worth $30. This coupon is defined to be pertinent on the Plans & Addons only:
A total discount of $90 has been implemented in this invoice. The reason for this is that a $30 discount has been implemented on the "Concierge Support - Addon", "Custom Reports - Addon" and "Plan - Grow" line items. There will be No discount implemented on the other line items as given below:
A specified percentage of the amount will get deducted by this discount type instead of just an amount from the invoice. "Percentage" is the type of coupon that can still be implemented only on the invoice's total amount or to each of the particular addon(s) or plan(s).
Percentage with Invoice Amount
If a coupon is generated as a "Percentage coupon" to be implemented on "Invoice Amount", the discount amount will be implemented to the sum total on the invoice. Such discounts will be implemented despite what the line products in the invoice are (plans with/without setup fee, addons, quantity).
A discount coupon of 50% implemented on an invoice with a total of $400 will offer a total discount of $200. In this invoice, a plan with multiple addons and setup fees may be enclosed including various quantities.
Percentage with Each Specified Item
Whenever there is the creation of a "Percentage" coupon to be implemented on "Each Specified Item" the percentage of discount specified will get implemented to every item including plans and/or addon specified. No discount will be implemented on the setup fee of a plan, if present.
Coupons Cheat Sheet
- "Percentage" and "Fixed Amount" coupons pertinent to "Each Specified Item" will not be implemented to the plan's setup fee if there is a setup fee configured for the plan.
- Before applying the taxes, discounts will be implemented.
If the discount amount of coupon is exceeding the plan price
Assume that you provide a buyer with a coupon of $70, and they use $30 for their purchases and apply this coupon, the sum becomes - $40.
In such cases, ChargeMonk will abstract the total amount of the purchase from the coupon and the final price becomes $0.
Plan Price: $10
Addon Price: $5
Fixed Amount Coupon Value: $20
Apply On: Invoice Amount
Total Invoice Amount: $15
Discount Value will be $15
In case, the total price of the subscription is lesser than the coupon value, its value will not become a negative total, but will be $0.
Is there a recurring option for coupons?
The Duration Type feature in ChargeMonk is responsible for the recurring efficacy of coupons. This feature indicates how long a coupon should be implemented to a subscription once being added.
Duration types are of three types i.e. One Time, Forever and Limited Period. Get more info below:
One Time This type of coupons can be used only one time in a subscription and once redeemed it cannot be used again. If the discount is implemented once on any amount then the coupon expires forever.
Forever This type of coupon has no fixed expiration time, and as long as the subscription is active, the discount will be implemented for that period
Limited Period This type of coupon will be created with a fixed expiry time duration. If the fixed period of the coupon is over, it will no longer be implemented on a subscription.
In case, the expiry time of coupon is set after 3 months, then for only 3 months discount will be implemented and the normal plan fee will be charged after that.
Implementation of more than one coupons to a subscription
More than one coupon can be implemented to an existing subscription but the coupons should not be of the same discount type. In case, the same discount type coupon will be implemented, then the earlier coupon will be overwritten.
Assume, you have implemented 2 coupons already given below:
Discount Type: Percentage (10%)
Discount Type: Fixed Amount ($10)
In this case, another percentage type discount coupon can't be added, but your current coupon can be overwritten and replaced with the new percentage coupon.
Therefore, for an instance if another percentage coupon is implemented, say 15%, it will replace the 10% coupon that has been redeemed already.
Discount Type: Percentage (15%)
Discount Type: Fixed Amount ($10)
Below given screenshots show what will happen once you implement the same discount type two times as explained in the example above.
Before implementing the same discount type coupon:
After implementing the same discount type coupon:
During the creation of a subscription, more than one coupon cannot be added and will support existing subscriptions only.
How to arrange coupons?
It is an easy process to setup and integrates a coupon. Just add the name, duration, discount value, constraints, and validity.
For this, go to Product Catalog > Coupons > Create a New Coupon in the web interface.
Naming your coupon To name your coupon in a detailed manner is quite important during registration. It should be easily understood that what the coupon offers without checking its details in the web interface.
On the subscription page, the display name of the coupon also encloses the discount details.
ChargeMonk's API uses the coupon Id to specify the coupons on your website. This coupon Id acts as a unique identifier of the coupon and on creation or updating of a subscription through API from your app/website, this Id should be used to refer the coupon.
Identify the name of an invoice or the application will use the default. And this name will also be shown on the invoice that will be sent to customers and displays on the invoice's HTML generated the view.
Setting the coupon expiration date
Yes, It is possible to specify the validity period and number of redemptions made by a coupon.
In the Valid Till section, select the expiration date. After the fixed date, the coupon will be invalid.
Throughout the festive season, coupons with the limited period could be offered saying that they will be valid till December 25th.
Redemption limit on coupons
With the help of the Maximum Redemptions section, you can set the number of times redemptions can be made on a coupon. In case a coupon has reached the number of redemptions set, it will become void and cannot be used for new sign ups.
Early Bird coupon can be implemented and the redemption limit can be set to 20.
- The redemption value lessens by 1, in case a coupon has been added to a subscription, despite unless the coupon has been implemented to the invoice for the subscription or not.
- The redemption value can be reset whenever required while editing a coupon.
Once there is creation or redemption of a coupon, the Name, Invoice Name, Code, Max Redemptions and Valid Till can be edited. All fields can be edited only if the coupon has not been used yet.
For editing a coupon, go to coupon name, and hit the Edit Coupon button placed on the right. Once the maximum redemption value has specified, it will be implemented to the coupon.
Deleting or archiving a coupon is possible. But based on the redemption status of the coupon.
For deleting or archiving a coupon, go to coupon and then hit the "Delete Coupon" button placed on the right side.
Once a coupon is being deleted, it does not have any redemptions, the coupon will be removed completely from the system and will not be shown to the list of coupons either. That coupon name can be reused to form a new coupon if required.
In case, the original coupon has never been renamed, redeemed or deleted completely then the coupon name can be reused. And if a coupon has been "Archived", then renaming the same coupon is not possible.
Coupons can be bulk deleted by selecting them and hitting Bulk Actions > Delete. Only admins can perform Bulk Actions.
On the customer's request, can I add coupons to the Subscriptions?
Yes, in your ChargeMonk you can add coupons to the subscription on customer's request.
Below given are 3 factors where coupon can be added:
While creating a Subscription
On behalf of your customer if you are adding a coupon/coupon code while creating a new Subscription, in the create subscription page go to Subscription Details, there you can find the option to add Coupon/Coupon Code.
During Subscription change
On the behalf of your customer, if you're implementing the coupon during a Subscription change, in the Change Subscription page you can find that option.
Add the Coupon/Coupon Code to the Subscription
In case you are adding the coupon/coupon code on the behalf of your customer, in the billing cycle at any point in time, go to the respective Subscription; find the Apply Coupon/Coupon Code button to add the Coupon/Coupon Code.
2. Can coupons be added while creating a Quote?
Yes, Get more info here.