Redemption Rate Calculator

This can be used by any business or venture that relies on reward-based marketing systems like coupons and offers in order to retain their customers and convert them into loyal buyers.

The following metrics are used –

• Number of Points redeemed
• Number of Points issued

The ratio indicating how many customers received your coupon and used the deal is called the coupon redemption rate. Use the simple calculation below to calculate your voucher redemption:

The formula for coupon redemption is

Number of Points issued
Number of Points redeemed x 100 = Redemption Rate

For instance, if we fill the values for the above metrics –

20
1000 x 100 = 2.00%

1. Create Your Own Coupons
Nobody enjoys being treated like a “number.” While it’s crucial that your coupon is simple to grasp, it’s also crucial that it provides the customer with a unique experience. Customization becomes important here.

2. Provide Print and digital coupons
Consumers today are adept at saving money; in fact, they are so clever at it that they are now using several channels to get coupons. Offer your coupons online in addition to the standard print variety, whether in-store, on the packaging, or via direct mail.

3. Make it feel urgent
What really constitutes a good deal? when it is only accessible for a brief period of time In reality, coupons do have an expiration date. As a business owner, you should capitalize on this consumer behavior by producing coupons that make it very clear to your customers that their deals won’t endure indefinitely.