COUPSMART BLOG

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Posts Tagged ‘digital coupons’

What Does the Increase in Ad-Blocking Mean to the Coupon Industry?

August 26th, 2015 4:30pm

Recent reports, such as this one by Business Insider, have made one thing clear: Consumers are rapidly adopting ad-blocking software. In fact, as of June 2015 almost 200 million consumers are using ad-blocking software, that’s almost a 100% year over year increase. At CoupSmart, we believe this trend will have several key impacts on how promotions are run, including:

Higher Focus on Quality Creative and Content

Word of mouth, whether through social, digital or email, will become more important as display advertising loses effectiveness. If a promotion is truly interesting and sharable, it has the potential to reach more consumers in a more effective way than display ads.

With the algorithms that various social networks use to display content, this also means it’ll be much harder for offers to live in a vacuum. Consistent, high-quality content campaigns will be needed to fill the void between promotions, ensuring:

  • Consumers engage with your brand
  • Organic traffic is substantially effect your sales

Increasing Importance of Building Customer Databases

This technological shift has made it even more important to build, maintain and continue growing your brand’s own customer database, especially a list of high quality email addresses for direct communication. With industry average open rates typically between 15-20%, email currently is one of the most effective ways to get in front of your customers and potential customers, and this will continue as it becomes harder for display advertising to reach your target audience at the right time.

In addition to emails, it’s also important to collect demographic and psychographic information on your customers. Not only can this be used to target email marketing campaigns better, it’s also a ready source of data on what sort of content you should create to have the best chance for your promotions to resonate with your customers.

Continuing Focus on Mobile

While Apple may be trying to change how mobile works, due to various technical limitations, it’s still much harder for consumers to effectively block ads on their mobile devices. This increases the importance of a channel that was already taking a larger and larger share of the display advertising market.

A few simple ways to ensure that promotions are always compatible with mobile options is to design responsive ads that works on a mobile device or desktop on your web-based campaigns, and make use of shortened URL that can direct traffic easily (especially if Facebook apps are involved).

While the end result of this increase in ad-blocker usage is uncertain, we think this represents a fantastic opportunity for marketers. It’s a chance to really show the following:

  • The value marketers provide to organizations by going beyond simple automated ad testing
  • An understanding of what potential customers are looking for from brands
  • The opportunity to create content that truly resonates with customers

Want to learn more about capturing granular personal data on your customers that can be used to build up your brand’s database and create great content campaigns? Request a demo with one of our team members now.

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.

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.

Growing Adoption of Mobile Drives Online Shopping and Digital Coupon Usage

October 10th, 2013 10:27am

The most recent data available reports a growing adoption of mobile devices as a commerce tool for shoppers. Statcounter reports that 20% of global web traffic is via mobile devices. And according to Business Insider, commerce transactions via mobile jumped to 11% last year from 3% in 2010 — that means mobile consumer spending in 2012 reached $18.6 billion!

 Yes, mobile commerce is exploding as more and more shoppers have access to smartphones and tablets at any given time, and brands learn how to leverage these tools to make the shopping experience functional and convenient. The availability of digital coupons on mobile devices are one major factor increasing consumer willingness to shop via mobile. By making coupons simple, easy, and easy to find, shoppers will use these handy incentives to shop online and in-store. While many see a coupon and just think discount, the reality is that digital coupon users actually spend 23 percent more per shopping trip than the average shopper.

 Just looking at this graph from Nielsen showing the proliferation of mobile coupons for various categories makes it clear that there is business to be done if you can reach your customers on their device.

Reaching customers doesn’t always have to involve building out new technology. This is a large undertaking that few brands and retailers easily commit to. To start adding sales from mobile technology right now, the smart approach is to leverage the digital presence you already have — using your social media pages to deliver content with a clear call to action.

Not only are consumers walking around with their mobile devices all day, a large amount are accessing their social media accounts for updates. Facebook reports that 78% of their 128 million U.S. users are using the mobile version, and 71% of those are accessing it daily. Facebook has responded by building a more workable mobile platform, as well as additional tools to target posts and advertisements right in the mobile news feed.

So, with Facebook stepping up their mobile game, and fans by-and-large ‘liking’ brand pages in the hopes of getting some kind of special deal, brands have more incentive than ever to activate their fan base and finally get that ROI from social that has been so elusive.

CoupSmart’s suite of social apps is different from what other digital coupon providers offer. Our deals live right on your Facebook page with no need for a redirect. Required sharing can boost the virality of your great deal as fans spread the word to all their friends who see it in their mobile news feed. And, because all interaction takes place within our app, we track each personalized coupon from click to redemption, and gather user information to target future offers for more sales opportunities.

Interested in learning more? Drop us a line at newaccounts@coupsmart.com and we’d be happy to take you through our products in detail.

Even More Evidence of the Potential of Couponing for Back-to-School

August 6th, 2013 12:00pm

Several weeks ago I wrote a post detailing the potential that exists for digital coupon promotions during the highly profitable back-to-school shopping season. This past week I came across a very well done research brief from The Center for Media Research that enumerates some helpful statistics which reinforce the points I made.

In 2013, back-to-school spending is estimated to reach $26.7 billion. Combine that with estimated back-to-college spending, and the number jumps to $72.5 billion.

The incredible potential revenue in this season is no secret to CPG companies and retailers. Consumers are going to spend for back-to-school, but in this economic climate they are doing more than ever to get the most bang for their buck. According to Pam Goodfellow, the Director of Proper Consumer Insights, parents this year will “comparison shop online and around town… even more than once… to find bargains and… the best value”. To highlight the consumers’ willingness to hunt for the best price, the brief states that in addition to going to the same back-to-school store they did last year:

  • 61.7% will shop at department stores, up from 59.9% last year and the highest in the survey’s history. Additionally,
  • 51.5% will shop at a clothing store,
  • 40.6% will shop at an office supply store,
  • 37.3% will shop online and
  • 25.9% will shop at an electronics store
  • 19.6% will hit their local drug store
  • 13.7% will look for goods at thrift/resale stores

These data demonstrate clearly that every outlet, retailer and brand will need to do everything it can to show potential customer that it has more to offer than its competitors.

The data also hint at the potential in coupon promotion for the season. A well-crafted coupon can not only drive the sale of a specific product, but also bring the consumer into the store, where they can be exposed to more of what the brand has to offer, increasing sales of related products. In addition, a coupon can generate improved brand awareness and, if it’s supported by the right software, can track purchases and gather useful information about a customer base. This information would be especially invaluable as the brand plans for next year’s back-to-school frenzy.

Need helping crafting your perfect coupon? Click here for our free whitepaper.

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