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Archive for the ‘Social Media’ Category

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

February 23rd, 2015 2:25pm

Feb 19 Blog Image

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.

[Video] Connecting Digital Promotions With Email Service Provider Silverpop

January 19th, 2015 3:10pm

CoupSmart’s technology extracts personal data from fans to allow 1:1 email communications. This data can then be plugged back into email service providers for automated remarketing campaigns to segmented customers. We capture this data when customers authorize our Facebook App to claim a digital promotion from your Fan Page or website.

In this video, Blake Shipley, Founder and CEO of CoupSmart, explains how our partners’ (in this case, IBM Silverpop) customers can leverage social couponing data in their overall marketing strategy.

To learn more about becoming a CoupSmart partner, or how your brand can increase the value of its digital campaigns, contact us at sales@coupsmart.com.

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Facebook’s New Fan Page CTAs Can Increase Conversions 2x

December 31st, 2014 2:20pm

Good news, Facebook’s new Fan Page call-to-action buttons will help drive more source traffic from your Fan Page to your website. While this new feature was announced on the Facebook blog on December 11, the product has yet to be fully rolled out in the U.S. or worldwide. But limited releases have begun in the United States and are expected to be completed by the end of 2015.

The new call to action buttons can definitely work. Dollar Shave Club served as Facebook’s beta tester, using the call-to-action button to facilitate customer acquisition. The results were good.

Time period: Three weeks
Call to action: Sign Up
Results: 2.5x higher conversion rate versus other comparable social placements

What it looks like (the sign up button to the left of the traditional Like button).  Dollar Shave Club Call to Action

The call-to-action buttons can link to an external URL. Their purpose is to support the broad business objective of a business or brand, such as gaining new subscribers, creating purchases, booking reservations, driving traffic, or generating leads.

Here are the seven call-to-actions (and their probable uses).

  1. Book Now
    • Travel and reservations (Travel, Real estate)
  2. Contact Us
    • Lead generation for services, subscriptions, b2b (Nonprofit, Education, Finance, Healthcare)
  3. Use App
    • For productive or informative apps (Technology, Games, Social)
  4. Play Game
    • For gaming apps (Games, Social)
  5. Shop Now
    • For ecommerce (Apparel, Consumer Electronics, Home, Crafts and hobbies)
  6. Sign Up
    • For customer acquisition or subscription lists (Technology, Media and entertainment)
  7. Watch Video
    • Useful for viral marketing, or potentially, b2b lead generation (Education, Technology, Media and entertainment, Nonprofit)

Here is a second example we found during our search, using the Contact Us call-to-action. Fan Page Contact Us You access and add your call-to-action button by being a page admin, and clicking on your cover page image, according to these Facebook instructions.

  1. Go to your Page’s cover photo and click Create Call-to-Action
  2. Choose your call to action and the destination URL that you want to link to. We’ll automatically choose the best destination based on your specified web address, but you can edit these suggested destinations.
  3. Click Create.

How Will They Perform?

While performance data for the new Fan Page call-to-actions is not yet available, data regarding the performance of the recently introduced call-to-action advertisement buttons in the news feed is, with an impressive click through rate lift of 2.85x, according to AdRoll. There is no reason to believe performance results for the new Fan Page CTA button this year can’t be successful.

The bottom line is that Facebook has been implementing system-wide call-to-action buttons in ads and now on Fan Pages to improve their own platform’s advertising effectiveness, and make their platform friendlier for businesses, as the Wall Street Journal speculates.

Facebook Tops Pinterest in Consumer Purchasing Power on Black Friday

December 23rd, 2014 5:55pm

Black Friday Results 2014 from IBM’s Digital Analytics Benchmark Reports.

Led by strong mobile traffic, Thanksgiving Day and Black Friday saw record online retail sales. Digging deeper into the data, Facebook produced a stunning number, as a referral source (media channel), its average price per holiday order rocketed from $52.30 in 2013 to $109.94 in 2014, eclipsing Pinterest’s average per order of $100.00 in 2014.

Facebook vs Pinterest, from this year’s IBM report (Black Friday 2014):

On Black Friday, marketers continued to rely on social channels to build brand loyalty and drive sales. As a part of understanding this marketing effort, IBM analyzed the trends from two leading social sites, Facebook and Pinterest.

They discovered the following: Facebook referrals drove an average of $109.94 per order compared to $100.00 for Pinterest, a difference of nearly 10 percent. Facebook referrals converted online sales at more than twice the rate of Pinterest.

IBM’s 2013 Black Friday report also analyzed Facebook and Pinterest.

The results:

The report determined that holiday shoppers referred from Pinterest spent 77 percent more per order than shoppers referred from Facebook. Facebook’s average order value was $52.30 versus Pinterest’s average order value of $92.50.

The biggest story is clearly Facebook’s dramatic jump in average order value from 2013 to 2014 on Black Friday: $52.30 to $109.94! That is a percentage increase of over one hundred percent.

Possible Reasons

  1. Facebook’s demographics have been maturing by gaining older users, presumably with more purchasing power. Since 2011, Facebook added 10.8 million new users 25 to 43 years old, 16.4 million users 35 to 54 years old, and 12.4 million users aged 55+.
  2. Facebook marketers are simply getting better, along with Facebook’s marketing and advertising tools. For instance, Facebook is releasing call to action buttons in 2015 for Fan Pages.
  3. Facebook may be benefiting from a larger, non-Facebook specific trend. Such as, are consumers feeling more comfortable making purchases as a part of their social experience.

We are Only in the Beginning

The power of Social Media to drive purchases is just beginning to be realized. It is the youngest and least developed media channel in the digital world (search, advertising, social, email), but is keeping pace with the progress in other traffic sources (search, advertising, social, email).

For instance, in Q1 2014:

  • Search traffic’s average order value (AOV) was $188.10 – 75% higher than social’s average
  • But average order value (AOV) for social traffic was $107.50, up from $91.40 the year prior
  • With a conversion rate of 1.08%, social’s conversions trailed search (2.27%) and email (3.31%)
  • But social’s conversion rate increased to 1.08% in Q1 2014 from .69% in Q1 2013
  • Instagram increased its Q1 2014 AOV  to $127.98, doubling its $51.00 mark from a year earlier

Overall, the value of Social as a traffic and purchasing source cannot be ignored or undervalued by brands large or small. Particularly Facebook, with a growing adult user base filled with valuable demographic and psychographic profile data that can be captured and redeployed in broad marketing automation processes elsewhere.

If you’re interested in running promotional campaigns on Facebook, the Web or Mobile – or building customer email lists for remarketing and retargeting purposes, call us or request a demo today. We want to hear from you.

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.