Let me share an entry from my diary to set the stage for this post…
“June 12, 2014 7:00 AM — $7.00 in rewards dollars from CVS on the printed paper receipt after checkout. I know I am going to lose that slip of paper or forget to use it before the expiration. Why can’t they automatically add it to my loyalty card and just debit from my next purchase. I hate rewards that expire, but we do live in a capitalist society so at least send me a weekly or monthly reminder via text before expiration to nudge me into the store. I will still be mad at you for expiring the rewards you baited me with, but at least you made an effort.”
I am not your average mainstream consumer as I live, eat, sleep mobile every day. But, brands can do a lot better than the above experience. All joking aside, there’s been some debate about if and how mobile coupons can drive in-store traffic and increase response rates. For us, there is absolutely no question. Our retail and QSR customers are seeing mobile coupon redemption regularly eclipsing 45 percent — more than double that of any other channel and three times higher than the average redemption rate across all other distribution methods.
This week, Yankee Group released data on the consumer adoption and overall interest in using mobile coupons. The data is clear: 91 percent of consumers are interested in using mobile coupons.
The opportunity for marketers is huge. With companies reporting double the redemption rate of traditional coupons, it seems like an obvious addition to any mobile marketing initiative.
Read Yankee Group’s perspective on how to get mobile couponing right if you are interested in exploring more on this topic.
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