COUPSMART BLOG

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Archive for the ‘B2B’ Category

Are Coupons A Marketing Vehicle For More Actionable Data In 2015?

May 11th, 2015 4:10pm

Q: Wouldn’t you want to know how to fine-tune your marketing campaigns based on your customers’ actions?

Traditionally, coupons have been tools to drive sales and gain market share. However, the advent of digital coupons and digital technology has made more than one path available for vendors to innovate, and create additional value-adds.

One of these paths is data acquisition. In addition to driving sales and market share, coupon campaigns can be used to acquire more consumer data. This acquired data can encourage repeat purchases through remarketing campaigns, and more loyalty, through data analysis.

Data can be filtered into three broad types for marketing departments: they are customer, operational, or financial data. Customer data – behavioral, attitudinal, and transactional – fuels marketing teams’ decision-making based on customers’ actions, like redemptions, or claims.

In theory, the more quality data that you have, the better decisions you’ll make.  Of course, that is not guaranteed - because a team has to execute – but it does offer potential benefits. For instance, data-driven coupon campaigns can provide or answer the following:

  1. Determine what really makes your customers tick.
  2. Set baseline metrics to measure or review your campaign’s results.
  3. Focus on the few points that truly matter.
  4. What is driving your customers’ behavior/actions?
  5. Target specific and highly relevant customer niches.

A third party vendor provides brand and retailers an experienced hand to help run data-driven campaigns that provide positive ROI.

Data collected from a recent campaign will be relevant and accurate. Data that provides depth will include demographic and psychographic (likes and interests) information for deeper analysis and detailed context for remarketing campaigns.

For example, if you could identify the the Top 5 geographies that gave you the highest V2C conversion rate, wouldn’t you want to target more of your marketing dollars to that segment during the next campaign? Or, for instance, would you want to know customers’ campaign activity (view-to-claim rate) based on their likes and interests? The following chart details an ecommerce client’s customers’ view-to-claim (V2C) ratios based on their Likes and interests. 

v2c claim ratio by likes

 

Any good marketer can figure out how to productively re-purpose this vital information somewhere in their marketing strategy.

It is imperative that your data is accurate and actionable. Are you acquiring your data from an active campaign? And can that data be used to support long-term sales gains? Send us a message to find out.

To learn more about our powerful platform click here.

Why CoupSmart is Your Agency’s Next Great Partner

March 9th, 2015 2:08pm

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Brand and digital agencies are one reason why new technologies and innovations are introduced to and implemented in CPGs and retailers. This is beneficial for the brand because it can result in positive business results, i.e., a new idea or process can directly impact sales or improve the bottom-line.

Oftentimes an agency executes a successful campaign or tells a great marketing story. Other times, an agency champions a new product innovation, improving margins or growing sales for the brand. In these situations, the technology provider finds the agency, or the agency finds the technology provider.

CoupSmart is a technology provider, and we are reaching out to you.

We find new clients in one of two ways. The first is the more traditional approach – communicating directly with the CPG or retailer, and establishing a business relationship. The second and more productive way is to communicate and then partner with other technology vendors, consultants, or branding/digital agencies.

Why your agency or company should consider partnering with CoupSmart.

  1. No retainer to pay, no technology to purchase.
  2. You can help your clients (run campaigns with transparent results and capture high-quality data).
  3. You can offer a unique technology/product to your clients (differentiating you from peers).

More often than not, companies and products want to become your partner to sell you something. In our world, partnering with you means helping your clients to achieve their goals. Our technology adds a unique product to your portfolio. This technology solves several pain points that brands and retailers face.

These are the five challenges that CoupSmart can solve for brands and retailers in your network.

One: The need for a coupon solution (or an alternative).

Two: The need to to build or further develop their CRM.

Three: The need to have an effective remarketing tool.

Four: The need for more consumer data for customer insights.

Five: The need to leverage their Facebook fans.

A need for any of the five is an opportunity to open a dialogue with you. Request a demo or contact us today.

How to Use Social Coupons to Remarket to Your Customers

December 18th, 2014 6:44pm

How to Use Social Coupons to Remarket to Your Customers

Does your brand use digital coupons (print-at-home) in your online strategy? Are you looking to find more value in the stratagem, such as increasing customer loyalty or gaining more data? A digital promotions platform with social coupons is an approach worth considering.

As digital coupons have higher redemption rates compared to traditional coupons (cite) and drive sales for brands and products because of convenience and ease of use. Social coupons are placed on platforms like Facebook and also inherit these same characteristics while adding better metrics, speed, usage and sharability.

Most importantly, they provide social visibility for brands and customer data acquisition, which is highly valuable. The strategic value of coupons increases as personal, re-marketable data is captured, like email addresses.

CoupSmart is a digital promotions platform that uses social coupons to drive sales and capture valuable data to deliver higher conversion rates and re-marketable email lists for its clients. The capturing of customer email addresses allows different consumer segments to be targeted, creating the ability to remarket.

The 4 Steps to Remarket to Your Customers

Capturing valuable consumer data from social coupons expands the business use-case of current investment cycles, by enabling brands to remarket and retarget its customers, increasing your ROI. Here’s how:

  1. Run a Coupon Campaign with Facebook’s API

CoupSmart’s digital promotions software is integrated with Facebook. Therefore, a coupon campaign can run on a Facebook Fan Page or another digital property, such as the web or mobile-optimized sites, using Facebook as the control.

Screen Shot 2014-12-18 at 2.22.09 PM

  1. Capture Customer Data When a Coupon is Claimed

When claiming the coupon, the consumer is required to authorize Facebook App Permissions to finalize the claim. When the coupon is claimed, the brand captures 17 key indicators from the customer’s Facebook profile, including, email address, demographics, psychographic, and campaign-level data (views, claims, geography). At CoupSmart, this method of data capture is more than 90% effective. This process is illustrated below:

halotop_demo_noshare

  1. Then, Plug Customer and Campaign Data Back Into Your Marketing Database (with a CSV File or ESP integration)

Campaign and customer data is recycled back to the brand through an Email Service Provider, an existing CRM system, or through CoupSmart’s own email platform. Email Service Providers (ESPs) have many targeting tools to use.

  1. Remarket, Retarget, and Grow

While the possibilities are many, typical use cases are:

(1)    Coupon redemption reminders

(2)    Birthday deals

(3)    Relationship status updates (recently engaged or married)

(4)    Customized content based on likes and interests

(5)    Many clients use the ‘overall data‘ to determine the future content mix of marketing campaigns across the entire spectrum

Additional Pros of CoupSmart’s Digital Promotions Platform

  • No software or print-driver download is needed
  • Shareable
  • World-class security and fraud prevention
  • Demographic and psychographic data
  • Higher conversion rates

When Does the CoupSmart Platform Make Sense?

When your clients, prospects, or brand managers ask about promotions, coupons, rebates, contests, data, building their CRM and email platforms, or, when they say “I’m simply not getting the data back from my current coupon vendor”.

How Do I Learn More?

Learn how to remarket to your customers with digital coupons, and request a CoupSmart demo today. Or call us at 513-374-6276!

What Will Happen to Digital Coupons in 2015

December 12th, 2014 10:23am

“THE SECRET OF CHANGE IS TO FOCUS ALL OF YOUR ENERGY, NOT ON FIGHTING THE OLD, BUT ON BUILDING THE NEW.” – Socrates

Overview of Digital Coupons
Traditional coupons (FSIs) represent a gigantic percentage of the coupon pie, 91.2% of distributed coupons, and 50.8% of total redemptions*.

Yet Digital Coupons’ revenue growth and out-sized share of redemption rates paint a bright, glowing future. Digital Coupons (print-at-home, mobile, social, and downloadable coupons to a loyalty card) represent less than one percent of total coupons distributed but command 10% of all coupon redemptions*.

Why are digital coupons impacting the industry?

The current digital coupon process is convenient and easy for the consumer, and they likely hold a fortified place in your brand or products’ digital marketing strategy. A consumer prints or emails your coupon to be redeemed by them at the nearest location, usually done through a popular destination site.

That’s it – straightforward and functional.

Change Adds Value To The Coupon Process
But how could you add more value along the digital coupon equation? What is limiting the value of digital coupons for brands and organizations? Two things:

  1. Customer Data
  2. Social Interaction

When a customer uses your coupon on another site, the interaction (the data) between your brand and that customer is missed and lost forever. Did they interact with your Facebook Fan page, did you glean individual or campaign level data? If not, the current strategy is a one hit wonder, satisfying, but not ideal.

Big Data and Social Media are mega, established trends influencing business insights and marketing strategy. Your digital coupons in 2015 could combine coupons, data, and social. Not unlike the following campaign:

halotop_demo_noshare

This campaign is a mobile promotion that uses Facebook as the control and data collector. Facebook app permissions acquire data from consumers by asking yes or no, versus filling out a form, the former tactic being over 90% effective. Meaning, when a customer is claiming a coupon and is required to give personal information, the yes or no method is successful more than 90% of the time.

The following information is captured by the brand before the offer is claimed; public profile, friend list, email address, relationships, birthday, interests, current city and likes.

coupons + social + data = more value

Three Recent Value-Adds to Coupons and Social Promotions
Uniting digital coupons with social media and the hidden value of big data is a powerful ingredient. An ingredient that delivers three value-adds to your digital coupon strategy:

  1. Facebook API integration with ESPs
  2. A longer coupon lifecycle
  3. Game-changing consumer and campaign level data

Technology improves fraud prevention and similar issues even further. Since coupons are already digitized, the next step is placing them where millions of your customers are conversing or listening, including social channels like Facebook, or through media partnerships with socialized digital entertainment like Pandora Radio.

How does it give your coupon a longer lifecycle?

The data gathered from the claiming process extends the lifecycle two ways. First, the individual who claimed the coupon can now be remarketed to in the future with email. Secondly, the campaign-level data can be analyzed for business insights and deployed in strategic initiatives elsewhere.

The New Coupon Experience
The current digital coupon process is three stepped. (1) consumer finds, (2) consumer prints, (3) consumer redeems. The new coupon experience will follow this process:

  • Consumer finds on Facebook, Web, or Mobile
    • Consumer authorizes Facebook App Permissions detailing demographic and psychographic data
  • Consumer accepts/claims/prints
    • Businesses gather limitless campaign and customer data, unlocking more value through remarketing and the discovery of useful insights

Want to improve your coupons in 2015? Request a CoupSmart.com demo today.

* NCH’s 2013 Year-End Topline Coupon Facts

Forms vs. Facebook Apps: Which provides the best opt-in rates?

September 8th, 2014 11:00am

If you’re using the web then I guarantee you’ve been prompted with the opportunity to deposit your personal information by means of a form.  It’s a way for companies to learn a little bit about you, and to have a way to connect with you down the road.  In contrast to this approach, we provide our clients with rich data about their customers using our application for Facebook.

However, we’ve had a few inquiries from clients regarding the methodology we use to collect data through our Facebook application.  Some are under the impression that by asking their customers to accept our permissions, it’s causing them to abandon the process altogether. Fearful of the misconception that potential customers are in jeopardy, they might claim that form fields are a superior alternative.

Are they right? Could a Facebook app be scaring away all of their customers?

It came to my attention that we are not the only ones who have had clients voice concern on this issue. AgoraPulse experienced customer concerns similar to our own, so they pulled their app data to investigate.  Specifically, they were looking to compare forms to Facebook applications, and how conversion rates varied between the two.

The comparisons were made across three different campaigns: Sweepstakes, Instant Win, and Fan Vote. The Instant Win category in particular had a noteworthy turnout of over 24,000 visitors, and the results showed that the Facebook app conversion rate was 88.3%, while the form field had a completion rate of only 27.3%.  At CoupSmart, we average a 92% opt-in rate for high value coupon offers.

Furthermore, in the 2014 Formstack Form Conversion Report, they calculated the percent of successfully submitted forms for the top industries that use their service. On the list included “Small Business”, with an average form conversion rate of 13%, as well as “Marketing/Consulting”, averaging at only 7%.

Still concerned that using a Facebook app will drive away potential customers?

A conversion rate of 100% is unrealistic. That being said, there are many reasons why Facebook app authorization, although not perfect, is still the ideal option.

  1. It’s an easier and less time consuming alternative. Customers literally click a button and avoid the grief of having to fill out a questionnaire.
  2. The information you collect is more likely to be legitimate, as opposed to a form where someone can easily submit inaccurate/false information.
  3. You will collect a lot more information. Every question in a form pushes you further and further away from the likelihood that a customer will actually complete the form. But through the application on Facebook, you can list out what information users are giving you access to before they give their permission.
  4. They are already on social media, so there’s a much greater likelihood that they will share their experience with people in their network.

So what can be done to ensure that you get the best results?

Less is more.
At CoupSmart, we only ask for data that is absolutely needed.  By requesting less information, a customer is more likely to follow through.

Trust. Trust. Trust.
In The Truth About Facebook App Conversion Rates, the author identifies components that make up your trust factor.

  • Your brand’s intrinsic credibility
  • Your campaign’s credibility
  • Your transparency on how your participants’ data will be used

You’re not (or at least hopefully not) using their data in a malicious manner. As discussed in my previous blog, consumer data is mutually beneficial to both parties. So make sure that your intentions are transparent, and you will give the consumer the confidence they need to provide the data you are looking for.