According to a recent study conducted by Juniper Research, mobile coupons are set to generate $6 billion in global redemption value by 2014. This is due to the fact that redemption rates for mobile coupons often exceed 50 percent, whereas paper coupons will typically only produce a 0.2-2 percent redemption rate (Exposure2) – an astronomical difference!
Besides the fact that mobile coupons are green and environmentally friendly, they also save printing costs and encourage impulse purchases. No other technology delivers a coupon right into the hands of your target market while they’re in a store, already shopping. Mobile coupons are viral; they can be easily forwarded to friends, meaning that if your customers are shopping in a group, the likelihood of that message being passed along is high and expands your brand’s reach at no additional cost.
The CRM opportunity created by mobile coupons results in a substancial benefit when compared to paper coupons. When your customers text in to join your list, you are not only obtaining their phone number, but also an opportunity for two-way communication. This allows you to text your customer, asking for demographic information or sub categorize your list into specific interest groups, per person. For example, if you’re a retailer, you can establish separate lists for customers that prefer jeans, shirts or dresses, enabling you to tailor more targeted messages.
Consider creating a loyalty rewards program for customers that redeem your coupons to generate brand loyalty around your campaign. By simply integrating your CRM system to Opt It’s API, keep track of who and where your customers redeem your offers. You’ll also establish a more detailed profile of what your customers needs are to aid in targeting initiatives. This is the perfect opportunity to reward your brand insistent purchasers.
Another benefit of mobile coupons is the ability to communicate almost instantly with your customers. Use mobile messages to send out new product launches, industry news, etc. Utilize this communication channel to ask your customers what kind of coupons they would like to receive!
Altogether, mobile coupons offer you an unprecedented communication opportunity; not only can you send instantaneous coupons, but also integrate your coupons with your CRM system, create a loyalty rewards program, and communicate quicker than ever before. In addition, you’ll be getting green and helping the environment by ditching paper coupons.- Try it for yourself!