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Archive for the ‘Social Media’ Category

Big Data: Behind the scenes and what it means [Infographic]

August 22nd, 2014 1:14pm

Big Data Infographic

Social Media Stats to Supplement Your Strategy

August 14th, 2014 10:50am

Social media is no longer a “young man’s game”.  Moms, businessmen, teachers, mailmen… they use it, and I’d  be willing to bet that you’re using some form of social media too.  And with a little information, it wouldn’t be difficult to pinpoint exactly which ones you use, and how much time you spend interacting with them.

Daniel Keys Moran once said, “You can have data without information, but you cannot have information without data”.  Furthermore, with the right data, you can have access to powerful information. So where can you find the right data?  Social media.

Collectively, there are many benefits to using social media.

  • It offers a channel for you to stay connected to your audience
  • It provides validation
  • It builds awareness
  • It effectively pulls in traffic and increases your exposure
  • It contains valuable insights about your audience

That being said, each platform is functionally unique and is used by different people to accomplish different objectives.  The key is to identify which platforms are most applicable to you.  Having a social media account is not enough. Be active, and make sure you are using each  one in it’s full potential.  Check out the figures below  and use the data to start optimizing your social activity.



Sources: The Social Media Hat, Expanded Ramblings, StratistaMarketing Pilgrim

Couponing On The Brink Of A Digital Revolution

August 5th, 2014 10:56am

For over a century, coupons have been an effective tool for influencing and motivating consumers.  In general, the concept of couponing hasn’t changed much. However, methodologies for distributing them have changed drastically… and for good reason.

You are exposed to coupons and other promotions every day. They’re in the stores you shop at, in the paper you read, and can be found online or on your phone. The reason they are seemingly everywhere is because almost everyone uses them. In fact, the Inmar 2014 Coupon Trends Report shows that, in a three-month duration, 96% of shoppers will have used a coupon at least once.  Consumers use coupons to save money, and will look for deals that pertain to goods that they would buy normally. However, as coupons continue to evolve, we are finding that what they are capable of offering is much more than a simple discount.

Traditionally Speaking
For years, the primary methodology for distributing coupons has been through Free Standing Inserts (deals that can be found in the paper, magazines, etc.). They are used to push offers on a large scale by casting a wide net. They aim to incentivize repeat purchases, or perhaps prompt customers to buy a newly introduced product. The downside to this approach is that the targeting is very generalized.  Another limitation, and possibly the most significant, is that it is nearly impossible to gather analytical data/ information that could supply valuable consumer insights.

Coupons That Keep Up
Our world is changing, and consequently, so are consumers’ behaviors and habits. Therefore, you will need the tools that will allow you to better accommodate their expectations.  The introduction of digitally distributed offers has revamped the marketplace.  Whether you are printing an internet-delivered coupon or receiving codes straight to your mobile device, the benefits (to both the company and the consumer) are setting the bar for all distributed promotions.

Some of the key benefits include:

  • Data gathering – collect, analyze, and gain valuable insights on your consumers.
  • Strategic agility – easily fine-tune or modify offers (appearance, value, etc.) on the fly.
  • Superior retargeting – efficiently and effectively manage your promotional strategy.
  • Distribution control – retailers and manufacturers can regulate exactly how many offers will be claimed and redeemed.
  • Personalized offers – use collected data to push individualized promotions.
  • Cost savings – digital provides a cheaper alternative to print.
  • Security – combat coupon fraud by tracking your customers using tools such as embedded codes (check out CoupCheck™ to learn more).

Digital offers work great if your goal is to:

  • Target a specific consumer population
  • Encourage a shopper to switch brands
  • Incentivize customers to repurchase goods
  • Introduce a new product or service
  • Save money while establishing a healthy consumer database

Promotions That Show Promise
Although traditionally distributed offers are still the conventional approach, digital promotions are quickly gaining momentum and are responsible for ever-increasing redemptions. In fact, the Inmar 2014 Coupon Trends Report stated that, “Overall, digital coupons are attracting more new buyers than print coupons by a margin of 35%.” In five years, it is projected that the population of mobile coupon users alone will nearly double from the current 560 million to 1.05 billion users (Mobile Coupons: Consumer Engagement, Loyalty & Redemption Strategies 2014-2019).

 

Advantages & Implications of Social Coupons

July 15th, 2014 1:27pm

What kind of coupons do you use? Where do you get them? For years, a common method to claiming a coupon has been Free Standing Inserts, a deal that can be found in newspapers or magazines.  For many companies, this has been an adequate approach for offering deals and promotions to consumers.   As our world continues to evolve, however, so has this approach.  One tool that has become increasingly purposeful is social media.   It now has much more to offer than your friends’ spring break photos and ever-recurrent status updates.  In fact, utilizing social media to push promotions is quickly becoming the unparalleled methodology for incentivizing and engaging customers. 

A mutually beneficial social opportunity
When it comes to social media, every fan and follower you have should be viewed as a potential customer. Why? Because, according to Nielsen, “The top reason for following or liking a brand, company or celebrity in social networking sites is to receive discounts and special offers.”

Facebook, in particular, is a great platform to successfully accomplish this.  Studies show that 79% of Facebook users will “like” a company page just to receive deals and promotions according to MarketForce.  A very similar outcome was found in a survey by Compete, who revealed the top reasons why Twitter users follow a brand. The number one reason (at 94%) was to receive discounts and promos.

Social coupons FTW
The benefits to using social media platforms are multi-faceted, and can propose many advantages to the company and it’s customers. 

  • Motivate purchases and increase your sales revenue
  • Boosting your fan page and/or number of followers
  • Raising your brand awareness
  • Facilitating customer engagement and interaction

To get the most out of your social marketing campaigns, you can use CoupSmart’s services to deliver content that goes beyond engagement. We not only help you distribute social coupons effectively, but most importantly, we help you learn more about your customers by capturing psychographic and demographic data.  By doing so, you can easily turn your fans into customers, and then use the collected data to retarget a particular sample of customers, or even engage them individually.

The Importance of A/B Testing with Social Coupons

July 9th, 2014 7:00am

Coupons are an inexpensive advertising option for packaged goods, retailers, and other businesses that are highly desirable by consumers. While the product or service can vary greatly, so does its consumer. It’s easy to simply place a free-standing insert into the Sunday paper, but do we really know if the offer is reaching the appropriate audience? With digital and social coupons, we have the advantage of finding ways to grab the attention of our targeted consumers. And while this may take extra effort, the payoff is significant. In 2013 alone, we saw consumers used over 2 billion digital and print-at-home coupons (Inmar 2014 Coupon Trends Report).

Companies that combined coupons with data capture opportunities gained better insight into the purchase behaviors of their customers. Once companies have captured data, they can make more informed marketing decisions. The one constant we see in digital and social coupon use however, is that based on the promotion or offer, no two audiences are the same. Even within our own client base, we’ve seen similar offers by similar businesses that produce drastically different results, and this is why A/B testing has become a necessity to ensure success in marketing online.

Some key factors to A/B test in your coupons and other promotions are:

Offer Value
Should you offer a percentage off or a flat amount? What’s the minimum value you can provide that will enable you to hit your print and redemption goals?

Expiration Date
What’s the ideal amount of time to give consumers to redeem a deal that will ensure they don’t forget it?

Promotional Strategy
What are the best channels to let consumers know about your offer, and where should you run ads driving traffic to the offer?

Creative
Is the design and copy appropriate? Are you drawing the attention of your audience and driving them to claim your offer?

At CoupSmart, we run A/B testing to discover solutions to questions like the ones above. So, if you’re having trouble determining whether your coupon should be “20% off” for six months, or “50% off” for two weeks, give us a call and we’ll be glad to help you out.

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