For brands and retailers the fundamental purpose of coupons is to increase awareness and drive sales. Beyond that, a number of ancillary goals also influence the actual success of a coupon campaign.
Some of these secondary goals include how many coupons are claimed (“or prints”), how many are redeemed; and what type of campaign and user-level data is acquired to spur future remarketing touch points and analysis of deeper consumer insights, i.e., what patterns of behavior and demographic and psychographic data are brands learning from their campaigns?
Whether the channel is digital in nature, traditional, or through a social media platform, a KPI is the rate of redemptions. The most obvious and immediate way to increase your redemption rates is to go digital. For instance, according to NCH’s 2014 Year End Topline View of Coupon Facts, digital coupons’ distribution is less than 1% of all coupon segments but represents 10.6% of total redemptions.
Let’s assume your goal is to increase redemption rates for your on-going digital coupon/promotional campaigns. To do that, here are our three best practices:
- Promote your offers and coupons
Feature it on Facebook by posting to your page, use images and video, boost your page posts, and consider running display ads on Facebook’s platform. We recommend planning several posts before each campaign to notify your fans. Teaser posts before a campaign are particularly effective 1-2 days before a campaign starts.
Another option is to Tweet it on twitter. Promoting your campaign across all of your other social channels, including Twitter, is an easy and free way to get more exposure and better results.
Here are five other online ad methods to promote your offers and coupons:
- Google AdWords and/or SEO
- Banner Ads and Poster Advertising
- Blog Network Marketing
- Instagram and/or Pinterest
- Sending the offer/coupon/announcement to your existing email lists
- Send reminder emails
Send reminder emails to customers who have claimed your coupon but have yet to redeem. Newer and savvy social coupon vendors can provide this real-time information to brands or retailers to ensure they receive the best value from their digital campaigns.
- Send follow up offers (based on remarketing and retargeting … keep engaging your customers)
When a customer claims your digital coupon, it is important to capture vital user-level information, such as their key demographic profile – name, age, gender, location, email address – among other things.
Capturing email addresses allows you to send two types of emails: the first is additional follow up offers and discounts, and the second is email remarketing messages based on demographic information or campaign behavior.
Using these best practices and incorporating a diverse media mix of coupons is the best option for successful digital campaigns.
CoupSmart is a technology vendor focused on social couponing. If you’re a brand, retailer, agency, or third party, we want to be a piece of your digital strategy, and would love to start a discussion today. Request a demo or message us for the fastest reply.