COUPSMART BLOG

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Archive for the ‘Marketing’ Category

3 Ways to Increase Your Digital Coupon Redemption Rates

April 7th, 2015 9:39am

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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:

  1. 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
  1. 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.

  1. 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.

How to Build a Quality Email List for Your Summer Campaigns

March 23rd, 2015 4:28pm

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Building reliable and high-quality email lists is a top goal for almost all B2C business organizations because email marketing is considered a proven and fundamental strategy by digital marketers.

According to these studies, two thirds of respondents believe that email is very or extremely important to their current strategy, and in this study, was rated the most effective digital marketing tactic in the United States.

Today is the perfect day to learn how to build your first CRM list (or supplement your existing list) to drive more sales and repeat purchases for your summer campaigns.

How to build a quality CRM list with CoupSmart’s social technology:

  1. Run a promotional campaign on Facebook (a coupon, offer, discount, event, or contest).
  2. This offer appears in your Fans’ newsfeeds, encouraging them to claim the offer.
    • Note: the offer must be enticing for a significant percentage of customers to claim it.
  3. When they claim your offer, they give CoupSmart permission to access their data, which includes their email address.
    • 92% of consumers click ‘yes’ when asked to give CoupSmart permission.

Gather data about these customers to increase your list’s value:

  • When your Facebook offer is claimed, the customer’s email address and social data is captured, including:
    • Demographic data – age, location, gender, email address
    • Psychographic data – likes and interests

With this information, your brand can remarket to them via email. Since the offer is posted on Facebook and can reach thousands of Fans, one or two campaigns can build a large list, relatively quickly.

Next, use email (re)marketing best practices to drive sales and repeat purchases, for instance:

  • Send messages based on age or geographical location.
  • Send messages based on campaign activity (did they just claim they offer, or did they claim and redeem the offer?).
  • Send messages based on your customers’ likes and interests.

In addition to the benefits and ROI of traditional coupon campaigns, CoupSmart’s social technology helps brands and agencies send better and more targeted emails to interested customers, increasing sales and trial. Another benefit is the promotion of the discount or offer on a brand’s Facebook page, generating awareness and activity for that brand on their social site, instead of a third party’s.

To see a live offer in real-time, email sales@coupsmart.com.

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.

Two Unconventional Coupon Channels for Brands

March 2nd, 2015 3:58pm
As brands move away from traditional FSIs, what alternative channels exist that deliver efficiency and scale?

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The Sunday newspaper (FSIs) is the couponing industry’s traditional bread and butter and load to card is all the rage. But both of these options have drawbacks. Load to card is very far from mass adoption and FSIs are slowly losing redemption share due to an inefficient model.

There are more effective ways to reach consumers.

Distribution channels are available beyond the traditional newspaper and load to card. Social Media and Internet Radio are established advertising channels for brands, retailers, and hospitality. We prefer these channels because they have scale, and by relying on third parties, brands can tap into additional tools.

By pulling the best promotional practices from traditional couponing channels and reapplying them to specific Social Media and Internet Radio platforms, brands can squeeze more value (more sales) from their digital promotions.

Below are our reasons why we prefer/like each channel.

Internet Radio

Pandora is an innovator in online radio, music, and advertising. We recommend this channel for coupon placement for many reasons, but here are our top three.

1. Pandora’s advertising tools include geo-targeting – offering local advertising solutions for small businesses and event-based sponsorships. This competes with traditional radio.

2. Pandora has Experiential Marketing. It connects bands, brands, and fans up close and in person with exciting live events and custom content.

3. By using existing tools, brands can place coupons on Pandora Radio that hook back into third parties, like social coupon vendors, capturing consumers’ social data (demographic and psychographic).

Pandora is unique because it has a 100% registered user base, which is ideal for placing coupons and offers that capture this user bases’ data. This data is then deployable in remarketing initiatives across your marketing campaigns.

Social Media

Facebook is the most powerful social platform by user base, and it is our favorite social media coupon channel because of that size and its individual user data. Its ads are shown to targeted customers on desktops, tablets, and mobile devices. Brands and retailers can run promotional or discount campaigns that reach users’ newsfeeds.

1. Facebook’s targeting criteria includes location, demographics (gender, age, and relationship status), psychographics (likes and interests) and, of course, your current Fan Page fans.

2. Facebook uses viewed impressions instead of served impressions to measure ad delivery. This ensures your ads are not only delivered but seen.

3. Brands can post coupons and offers on Facebook’s platform with Social Coupon Vendors’ technology, capturing consumers’ social data (demographic and psychographic).

Either option is sensical for brands currently running digital and coupon campaigns that need a lift in ROI without taking unnecessary risks. Brands receive long-term value by advertising on either platform with CoupSmart, a social coupon software tool, by capturing more consumer data during the claiming process, which can then be funneled into email remarketing campaigns.

4 Reasons Why Social Coupons Are Your Brand’s Secret Weapon

February 23rd, 2015 2:25pm

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Reason #1: They Drive Traffic to Your Brand’s Own Web Properties, Not a Third Party’s

Unlike Coupons.com and similar coupon destination site providers, social coupon providers run promotional campaigns on your brand’s Facebook Page or website, distributing coupons to your most loyal followers at scale. This keeps more consumers and brand advocates on your digital properties, building traffic and engagement for your site, not a third party’s.

Reason #2: They Capture Your Customers’ Behavioral Data

Marketing and selling anything successfully requires an understanding of your customers’ behaviors, preferences, and patterns. One way to gather this type of data is by using social coupons. Social coupon technology bypasses the form registration process and the need to install download-to-print software. It uses social apps for log-in and authentication to distribute coupons and digital offers across the web, social, and mobile.

During this process, valuable campaign and consumer-level data is captured, which is then given back to the brand or retailer to be redeployed in marketing initiatives elsewhere. This social data is generally of higher quality (and more accurate) than data captured from a form submission.

Reason #3: They Kick-Start Your Remarketing Campaigns

Because of tools developed by Email Service Providers (ESPs) and other technologies, the captured demographic and behavioral data can be plugged back into your marketing systems for 1:1 email remarketing campaigns. A practical application is sending custom content based on likes and interests, such as unique recipes based on customers’ interest in baking (read the customized content case study).

Reason #4: They Increase Your Conversion Rates

By relying on app permissions versus form submissions or download-to-print applications, conversion rates explode, driving sales growth for your brand or product.

For example, a customer filling out a form to download and print a coupon on a brand’s website (such as a pizza or toy company) must go through eleven steps before printing the actual coupon. Using a social log-in process, a consumer can claim an identical coupon on the same website in four steps. Read more about shortening the user experience.

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, we see conversion rates average around 92%.

Social couponing technology is an emerging segment in digital couponing, and your brand can be an early mover.

To learn more about using this technology with your digital promotions in the next quarter, contact CoupSmart for more information.

Email or request a demo.