Recently begun e-commerce and was wondering if anyone with experience can help me. I am running advertisements that eat up a large chunk of my profits. I would like to make the benefit greater from these advertisements.

I am currently a lower priced product as compared to the competition.

Wondering if creating a coupon code in these ads for online checkouts + raising my price point to keep the same margins will be more effective than simply having the cheaper price and NO coupon code?