COUPSMART BLOG

Your resource for digital and social couponing news

Archive for the ‘Conversion’ Category

Understanding Consumer Coupon Activity

September 23rd, 2015 1:35pm

The CoupSmart platform helps brands run promotions and collect granular consumer data. This means coupons. A lot of coupons. We’ve analyzed the millions of coupons we’ve delivered for clients, and here are some of the interesting data points we’ve found regarding the days, times and channels consumers are most active on for various industries.

CoupSmart Infographic

[White Paper] Driving Traffic To Digital Campaigns

July 7th, 2015 1:43pm

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The most valuable asset in the digital world is traffic. With sufficient traffic, marketing goals and sales numbers are far easier to reach. Even a poorly performing campaign with healthy traffic, but low conversion rates, can be dramatically improved by changing design and content, along with A/B testing, to increase the conversion rate.

Poorly performing campaigns with stable traffic can be turned around quickly! That’s why it is a common business and marketing goal to drive more website traffic, for a whole host of reasons. From lead generation, to promotional campaigns, to contests, to app downloads, to purchases, and to newsletter sign-ups, the list is endless.

That’s why we wrote a white paper to help brands, retailers, and QSRs learn how to drive traffic to their own digital promotions, without relying on third party destination sites.

In our white paper, How to Drive Traffic to Digital Promotions for Optimal Results, we detail the best strategies and methods to drive traffic to your digital campaigns’ landing pages, removing the need to rely on third party destination sites, and improving the return on your marketing dollars.

Download it today.

Using Big Data For A Higher Return On Your Marketing Dollars

June 15th, 2015 2:23pm

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Houston, we have a problem with Big Data.

Did you know?

In our data-driven world, only 11% of the time marketers make customer-centric decisions that depend on information from data. Eighty-two percent of CMOs surveyed said they felt underprepared to deal with the data explosion, and nearly 60% of chief marketers in a poll admitted that they’ve fallen short in their usage of advanced analytics to capture customer insights across all touchpoints.

91% of marketers agree that successful brands use customer data to drive strategic marketing and sales decisions, but 39% of marketers say their own company’s data is collected too infrequently or not real-time enough.

The Hurdle

The largest hurdle marketers face from implementing big data in marketing campaigns is the ability to capture, organize, and then practically use that data to drive a return on investment. With the popularity and trendiness of big data, the percentage of marketers that struggle with incorporating big data into decision-making processes is shockingly large.

With that in mind, here are three ways to use consumer data to deliver a higher return on your marketing dollars or create efficiency gains in operations.

Collecting Data And Syncing It To Other Databases For Efficiency Gains

Every major software platform has third-party apps layered on top. This serves the purpose of making those software platforms more dynamic and integrated with other platforms via third parties.

Marketers can transfer and move their most important insights and customer data from platform to platform by collecting data, then sharing it with Email Service Providers and CRM databases. Sharing of data creates transparency, a deposit of knowledge, and actionable insights for creative teams in marketing departments.

Creating Better Digital Advertising Campaigns

By collecting data and syncing it to other marketing databases across the organization or departments, identifying high-performing consumer segments is attainable, and creates the ability to make paid advertising more effective by using remarketing or targeting demographic segments or patterns based on consumers’ Facebook likes or other psychographic information.

Responding To Live (or close to real-time) Marketing Campaigns And Making Impactful Changes Quickly

Large and expensive marketing campaigns are integrated across most mediums – digital, radio, and traditional channels; and can last for days, weeks, or months. Measuring the degree of success of a particular campaign at the onset of that campaign becomes truly beneficial when a marketer can understand why the campaign is lacking in impact, or awareness, and then can make strategic campaign changes based on the data.

Tip: Relationships and social conversation are more important than the size of the audience being reached. 76% of brands say real-time social increases audience engagement, and over half believe that it also helps customer satisfaction and positive brand sentiment.

Those are a few of the many ways to increase the return on your marketing dollars. To learn how CoupSmart’s data technology can help you better understand your customers, click here to request a demo.

If You’re Using Old Download-to-Print Coupon Technology You’re Losing Customers

March 16th, 2015 3:27pm

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Digital coupons and its associated technology have exploded in growth over the last ten years. As of 2014, digital coupons, including FSIs, print-at-home, and load to card represented 10.7% of all coupon redemptions. Specifically, digital print-at-home accounted for 6.7% of total coupon redemptions, out-pacing digital paperless’ redemption rate of 4.0%.

Even though digital print-at-home’s redemption rate is a bigger piece of the pie than its counterpart, the coupon industry’s hottest trends are in digital paperless (primarily mobile and load to card). Nevertheless, print-at-home is not going anywhere any time soon, and in fact, recent innovation in the print-at-home niche is eliminating one of its biggest drawbacks for consumers and brands: download-to-print technology.

Before we detail the recent innovation, let’s review the negative business consequences of ‘old’ download-to-print technology in its current form.

Brands lose customers, conversions, and sales velocity because of major coupon vendors’ download-to-print technology. The download-to-print process relies on decade old technology, is tedious and time consuming, and limited in capabilities.

The three reasons why old download-to-print technology hinders your business results

There are too many steps. The process of a consumer downloading and printing a coupon from a brand’s website can involve as many as 11 steps, and typically requires at least 8. Furthermore, these steps include filling out a cumbersome form and downloading ‘90s era software (just to print a coupon!). Combined, this leads to unfavorable drop-off rates and relatively low and unacceptable conversion percentages.

The conversion percentage is relatively low. For instance, conversion rates for form submissions across all industries and types hover around 11%. Conversely, Facebook app permissions typically convert around 80% for Facebook Quizzes, Instant Win, and Fan Vote promotions. With coupons, CoupSmart’s app sees conversion rates around 92%. Read more about improving conversion rates here and here.

The campaign data is of lower quality and limited to high-level data while useful individual-level data is nearly impossible to attain. Major vendors will give data back to a brand concerning view-to-claim ratios, the number of coupon “prints”, and similar campaign metrics, but in-depth demographic and psychographic data at the individual-level is not available.

Recent Innovation in Social Couponing

CoupSmart’s coupon technology uses social login for validation and security, removing the need to install download-to-print software on a computer or fill out a registration form. Whether the coupon is embedded on a brand’s website, a mobile property, or a social media platform, such as Facebook, our application integrates and offers a similar experience across all of these channels.

Additionally, social coupon vendors such as CoupSmart, access individual social profiles, capturing key demographic and psychographic data for brands, unlocking more long term value for brands because of higher conversion rates and more consumer insights.

These innovations lead to a better experience for the consumer and a more favorable couponing product for brands and retailers.

4 Ways Social Media Is Changing Couponing Forever

February 16th, 2015 6:30pm

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Everyone knows about digital coupons’ load to card and print-at-home options. Everyone knows about social media. But not everyone knows about social coupons that tap into new opportunities offered by major social platforms such as Facebook and Twitter. Social Coupons use social platforms for log-in authentication and data collection while distributing those coupons across multiple channels (social, web, and mobile).

These platforms provide several new advantages for the brand and digital marketer that are affecting the landscape of the digital coupon industry. Here’s how:

1. Coupon Destination Sites Are Becoming Less Important

Destination sites, such as Coupons.com, Inc., focus on driving consumers to their own digital properties. When brands place coupons and offers in such environments they can reach consumers at scale but inevitably end up repeating campaign after campaign because they’re effectively “renting” access to consumers. In an ideal world, brands place coupons and promotions on their own properties, gaining more traffic and capturing personal data from their customers in the process.

The new technology behind social coupons, however, makes it much more practical for brands to offer coupons exclusively through their own websites and social media pages while still generating the volume they need to run a successful campaign. Brands still receive the same basic business benefits of promotional campaigns (sales and trial) but they build up their own traffic and customer lists at the same time. These platforms also make it much easier to collect personal consumer data and further increase the value a brand receives from running promotional campaigns.

2. Consumers’ Demographic and Psychographic Data Are More Accessible

In addition to traditional demographic data (age, gender, and location), psychographic data (likes and interests) is facilitating content marketing and remarketing campaigns that give an ROI boost to brands’ previous digital investments in email and CRM systems.

Campaign-level data such as views and prints remain valuable, but individuals’ social profile data is rising in importance and relevance. For instance, popular vendors such as Coupons.com, Inc., and coupon aggregators RetailMeNot, Inc., and Savings.com, Inc., give back high-level campaign data like views and prints to their customers, but more meaningful individual-level data is limited. Conversely, social coupon vendors, such as CoupSmart, typically access individual social profiles, capturing key demographic and psychographic data for brands, unlocking more value from the same digital promotions.

3. Social Media and Content Marketing Are More Powerful with Remarketing Campaigns

Social Media and Content Marketing continue to serve as a foundation of marketing strategies. The Content Marketing Institute states: (1) 77% of B2C marketers have a content strategy, (2) B2C marketers use an average of seven content marketing social media platforms to distribute content, and (3) B2C marketers are working on an average of 13 initiatives – better converting of website visitors is a top priority.

The data captured from social couponing campaigns is reusable through remarketing campaigns. The additional marketing insights gained from this data pave the way for more effective customized content campaigns across social media and email.

4. Social Coupons Increase Conversion Rates

Social coupons use social login for validation and security, removing the need to force consumers to download software or fill out registration forms. Whether the coupon is embedded on a brand’s website, a mobile property, or a social media platform, such as Facebook, the application integrates and offers a similar experience across all these channels. Studies demonstrate that conversion rates for Facebook applications are far superior (around 80%) to traditional registration forms’ conversion rates (around 11%). Read the details in a previous blog post.

CoupSmart

Measuring the ROI of social media and content marketing is a significant challenge for brands – running promotional campaigns on social technology alleviates these challenges. Social coupons make sense because they have instantaneous reach and real-time engagement, focus on better data, and maintain all of the best benefits of traditional couponing.

Where can you learn more about social coupon technology?

Learn more about using us as your technology vendor for social promotions and coupons in 2015-2016. Message us today at sales@coupsmart.com.

Author: Alex Brookbank, Channel Marketing Manager, abrookbank@coupsmart.com.