Hear the word “coupon”, and you might immediately envision your mother or grandmother sitting at the kitchen counter, carefully snipping squares out of catalogues. That image may seem like a relic of the pre-digital era; something long dead and buried.
But like so many other things, coupons haven’t disappeared—they’ve just gone digital. Coupons are still a huge driving force that connect customers to brands, and the data shows that a huge percentage of consumers truly will whip out their smartphones to scan a product for a potential deal.
If you’re running an ecommerce business, coupons can offer a huge boost to your business. Here’s how.
Yes, People Still Love Coupons
With all this talk about millennials being careless spendthrifts, the popularity of coupons might come as a surprise. But the fact is that the post-recession economy has given birth to a savings-savvy mindset. People are looking to save on the products and services they use every day, and they’re willing to spend a little more time on their mobile devices to do it.
Don’t believe us? Take a look at the data. A study by RetailMeNot found that in 2013, over 315 billion coupons were issued, and consumers collectively saved over $3.4 billion by redeeming them. The same source found that as of 2015, over 85% of Americans use coupons.
Data also shows that coupon use is increasing. According to research by Mobile Commerce Daily, about 92% of mobile users searched for a digital coupon in 2015. The report predicts that this year, about 96% of mobile users will search for one. Clearly, coupon use isn’t something that should be written off—especially by any small or growing business.
How do digital coupons benefit my business?
We stated above that coupons have helped consumers collectively save billions ($3.4 billion, to be exact) over the past few years. Such a gargantuan number is admittedly a little breathtaking—and you might wonder if coupons are actually beneficial for the companies that offer them. The answer is a resounding yes. Companies which issue coupons experience high customer retention, repeat buyers, and better overall sales than companies that don’t.
In 2013, Experian’s QA Email Benchmark Report demonstrated just how effective digital coupons can be for companies that use them effectively. The report found that email campaigns that contain a value-add offer and a digital coupon typically experience:
- An open rate of more than 14%.
- A transaction completion rate of 27%.
- A 48% increase in revenue per email sent.
Any salesman will tell you that offering a deal is one of the best ways to get someone to buy. That’s just as true in the age of smartphones and apps as it was in the days of door-to-door solicitation.
How to effectively use digital coupons
So, we’ve given you the statistics; how can you take advantage of them? Your first step will be to develop a coupon for your products–but don’t stop there. In order to really reap the benefits of digital coupons, you need to spread awareness about them on as many channels as possible so that more traffic will be directed to your site.
Here are just a few ways to make your mobile coupon offers more visible:
- Use social coupon sharing plugins for your online store.
- Regularly post coupons to all the free coupon websites you can find.
- Feature coupon offers as a pop-up at time of checkout.
- Feature coupons in your website’s banner or sidebar.
- Use coupons to retarget abandoners and entice them back to your store/website.
- Market your coupons on social media sites like Facebook, Twitter, Pinterest, and Instagram.
- Use PPC advertising to spread the word about your coupon.
Coupons may seem like a very tiny part of the digital marketing umbrella—and in a way, they are. But the data repeatedly shows how something as simple as a coupon can be an important factor to growing your bottom line. When you’re planning your digital marketing strategy, don’t leave ecommerce coupons out of the equation.
- Posted by getyoufound
- On 2016-09-16
- 0 Comments