Electronic couponing the next big marketing technique

In the 20th century, if you wanted to get into “couponing” you would sit down at the table with your Sunday paper and spend hours combing through the advertisements, snipping and cutting away at the coupons you wanted to use.

digital-couponsThose who really got into it would have entire portfolios full of coupons categorized by store, item, price, expiration date, etc. Then you’d have to take your coupon stack to the store in order to use them.

Emailed coupons boost revenue

That kind of couponing is outdated. These days, with smartphones, SMS, MMS, and push notifications, coupons often don’t even have to be printed. They can be scanned right from your mobile device. And electronic coupons are heating up, according to a report by Experian Marketing Services. Their 2013 Q4 Email Benchmark report revealed, “Emails with some form of coupon have a 14% higher unique open rate, a 34% jump in unique clicks, a 27% increase in transaction rates, and a whopping 48% boost in revenue per email, compared to other type of promotional emails.”

Personalized coupon campaigns

People who never couponed before now can do so easily. It takes little effort to open an email or sign up for a coupon text service, compared to the old clip and save way. In fact, Liz Gould Zito, Experian’s director of strategic accounts and cross-channel marketing, said, “There’s an ability to understand the customer’s location, past transactions, propensity to buy, and create a personalize offer.” Which means companies can set up personalize campaigns to match each user’s spending habits.

Most successful couponing format

Many people don’t even realize they’re couponing. Electronic discounts come in a wide variety of styles, including promo codes, bar codes, alphanumeric codes, loyalty discounts, and texts. One of the most successful coupon types comes in the form of a welcome email to congratulate someone on signing up for a new email service. It shows appreciation on the part of the company, and since the person has already shown an interest in the products, they’re already more open to using the coupon. In fact, transaction rates on welcome emails with coupons were double those which had no coupon.

Source: Direct Marketing News

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