COUPSMART BLOG

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Archive for the ‘Coupon’ Category

DIY, You Don’t Need Us – It’s a Self-Service Model

December 14th, 2015 5:04pm

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

Promotions Can’t Stand on Their Own

September 2nd, 2015 4:09pm

With digital and social channels taking over marketing, the days of running successful, stand-alone promotions and coupons are rapidly disappearing. When consumers look at the promotions your brand runs, they’re also looking at everything else that your brand is doing across a multitude of traditional and digital channels. There is no void that promotions can exist in anymore – it’s all one big interconnected experience for consumers.

So what’s the key metric for promotions in this new environment? In a word, Traffic.

This can come from a variety of sources, but the most cost-efficient traffic comes from a brand’s own website(s), social pages and email lists. After all, it’s a lot cheaper to get a promotion in front of a consumer who’s already visiting your website, signed up for an email list or engaged with your social channels (or who even just has a friend who’s engaged with your social channels) than constantly purchasing digital or (especially) traditional media advertising.

It takes commitment to build up traffic from these sources, however, and it takes more than just offering coupons from time to time. Consumers now expect to have a variety of high quality content create for them by brands, content that is truly interesting and well-produced.

We always find the broad term “high-quality content” frustrating though. What does that really mean when applied to what consumers are looking for from your brand? Promotions themselves always rank high on the list, but that’s just the tip of the content iceberg. To make it easy, here are a few key areas for you and your agency to focus on (and you can find out more in this fantastic article on Social Media Strategies Summit).

  • Exclusive experiences for consumers on a particular channel
  • Getting new information on your products and brand activities first
  • Opportunities for customers to offer direct feedback on your products and services

Beyond all of this, our personal favorite option for high-quality content is also the easiest: reposting content from others that is relevant to your key customers and is timely. For example, if you are selling primarily to mothers of young, school-age children, occasional helpful articles on back-to-school items or tasks during the months of July and August would be a great choice. Just be sure that there is a credible tie-in between the articles that you repost and your brand, and ALWAYS be sure to properly credit the source of your content if you’re not providing a direct link to it.

Want to learn more about capturing psychographic and demographic information on your customers that can be used to create fantastic content? Request a demo of the CoupSmart platform with one of our team members.

What Does the Increase in Ad-Blocking Mean to the Coupon Industry?

August 26th, 2015 4:30pm

Recent reports, such as this one by Business Insider, have made one thing clear: Consumers are rapidly adopting ad-blocking software. In fact, as of June 2015 almost 200 million consumers are using ad-blocking software, that’s almost a 100% year over year increase. At CoupSmart, we believe this trend will have several key impacts on how promotions are run, including:

Higher Focus on Quality Creative and Content

Word of mouth, whether through social, digital or email, will become more important as display advertising loses effectiveness. If a promotion is truly interesting and sharable, it has the potential to reach more consumers in a more effective way than display ads.

With the algorithms that various social networks use to display content, this also means it’ll be much harder for offers to live in a vacuum. Consistent, high-quality content campaigns will be needed to fill the void between promotions, ensuring:

  • Consumers engage with your brand
  • Organic traffic is substantially effect your sales

Increasing Importance of Building Customer Databases

This technological shift has made it even more important to build, maintain and continue growing your brand’s own customer database, especially a list of high quality email addresses for direct communication. With industry average open rates typically between 15-20%, email currently is one of the most effective ways to get in front of your customers and potential customers, and this will continue as it becomes harder for display advertising to reach your target audience at the right time.

In addition to emails, it’s also important to collect demographic and psychographic information on your customers. Not only can this be used to target email marketing campaigns better, it’s also a ready source of data on what sort of content you should create to have the best chance for your promotions to resonate with your customers.

Continuing Focus on Mobile

While Apple may be trying to change how mobile works, due to various technical limitations, it’s still much harder for consumers to effectively block ads on their mobile devices. This increases the importance of a channel that was already taking a larger and larger share of the display advertising market.

A few simple ways to ensure that promotions are always compatible with mobile options is to design responsive ads that works on a mobile device or desktop on your web-based campaigns, and make use of shortened URL that can direct traffic easily (especially if Facebook apps are involved).

While the end result of this increase in ad-blocker usage is uncertain, we think this represents a fantastic opportunity for marketers. It’s a chance to really show the following:

  • The value marketers provide to organizations by going beyond simple automated ad testing
  • An understanding of what potential customers are looking for from brands
  • The opportunity to create content that truly resonates with customers

Want to learn more about capturing granular personal data on your customers that can be used to build up your brand’s database and create great content campaigns? Request a demo with one of our team members now.

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.