COUPSMART BLOG

Your resource for digital and social couponing news

Posts Tagged ‘Data’

Are You Talking to Autopilot Robots or People?

November 23rd, 2015 3:49pm

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Do UBX?

CoupSmart is now a part of a new exchange to better serve you, partnering with the likes of IBM and Facebook to name a few. Here’s the new acronym to memorize: UBX.

Universal = It’s big.

Behavior = They’ve couponed once, they’ll coupon again.

eXchange = Let’s scratch each other’s backs and help each other out, shall we?

You’re busy and have zero time. We understand. It’s not an add-on…It’s pre-integrated with data that’s already there. UBX re-looks at data in a new way.

 “The real voyage of discovery consists not in seeking new landscapes, but in having new eyes”

– Marcel Proust.

Re-look at your data with new eyes. Or have us look at it for you, sift insights to the top, and turn that insight into profit for you. Your data is already there; we’ll turn that data into a better ROI.

An Example.

Say your coupon is…

X   Viewed

X   Claimed

___Redeem

Oh how important that suffix “-ed” is. If a consumer has viewed your coupon, taken the steps to claim it, but has yet to redeem it, you know they are close to closing the deal. With UBX, CoupSmart can identify these people, study their behavior, and tailor a custom message to them (e.g. If they “like” Starbucks coffee, send the message in the morning and talk about redeeming a coupon easily during their coffee breaks.)

Instead of acting like autopilot robots, let’s talk to people. You’re a marketer. You know human behavior is important. Focus on the folks that are likely to convert. Make your effort worth it.

Whether you’re with IBM, not with them, in the Cloud or not, CoupSmart can help you. Chat with us today and see how we can distill your data down to something that’s actionable and profitable.

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.


 

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