It’s official! New coupon research from CodeBroker shows mobile coupons are about to overtake paper coupons 131 years after Atlanta businessman Asa Candler created the first coupon offering a free class of Coca-Cola worth five cents.
According to Coupon Sherpa: “Between 1894 and 1913, an estimated one-in-nine Americans had received a free Coca-Cola, for a total of 8,500,000 free drinks. By 1895, Coca-Cola was being served in every state.”
Thanks to the internet, mobile coupons are now preferred by 47% of consumers compared with 53% who prefer traditional paper coupons according to the latest survey of more than 1200 US consumers by CodeBroker.
Mobile coupon survey highlights sense of urgency
The survey shows consumers are driven by a sense of urgency about coupons delivered through SMS, email, apps, and social media. Whether it’s a fear of missing out (FOMO) or simply the ability to buy and get a discount instantly, consumers are shifting to mobile coupons in a big way.
25% of consumers who received a mobile coupon via text message said they would spend it within three days while 60% said they would use it within a week.
Build lists with coupons
There’s good news for retailers – 68% of consumers said they would join a brand’s mailing list if offered an instant coupon or discount when signing up.
Consumers who request mobile coupons after seeing an ad are likely to use them 78% of the time and since 85% say they try to find coupons before visiting a retailer, this is a winning strategy for many marketers.
Mobile matters
Consumers are becoming very mobile-centric. While 69% said they prefer to download coupons to their smartphone, only 31% will download and print a coupon.
Mobile coupons can help retailers drive short-term sales quickly, providing opportunities to generate revenue, manage inventory and provide other strategic marketing advantages.
Which coupons get best consumer response?
The message is clear. Consumers overwhelmingly prefer high-value, single-use coupons (78%) versus low discount, multiple use coupons (22%).
Retailers need to pay close attention to how “smart” mobile coupons are delivered to consumers. Customers should receive the same coupon; coupons should be available regardless of the channel and marked immediately as redeemed to prevent re-use; multiple-use by a single consumer is prevented.
Advertising for mobile coupons gets results
When it comes to advertising, there’s a wide range of effectiveness in coupon ads.
Surprisingly, 57% of consumers are most likely to respond to in-store coupon ads, followed by online ads (23%), Facebook ads (12%), TV ads (7%) and radio ads (<1%).
This shows the obvious advantages of using multichannel marketing in-store and online.
Four ways to market with mobile coupons
Based on its research, CodeBroker recommends four key strategies for marketing with mobile coupons:
send coupons via text message- grow your marketing list with instant rewards
- promote mobile coupons through many channels including text message, email, social media and in-store signage
- maximize impact with one-time, higher-value coupons
You can get a free copy of the CodeBroker 2018 Mobile Coupon Consumer Research Report here.
LET’S CONNECT