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While many fear the rise of mobile will curb in-store spending, savvy retailers are cashing in on mobile app services. So how can you leverage mobile coupons to increase basket size, personalise shopping experiences and incentivise loyalty?
Imagine receiving relevant coupons to your phone while doing your Christmas shopping. That’s exactly what happens with mobile coupons. And right place, right time = higher redemption rates. In fact the State of the Mobile Coupon Industry report from Koupon Media says two out of three consumers redeem mobile coupons within 5 minutes. Nearly half (43%) of mobile users have used a mobile coupon and one in four (26%) increase their basket size when using one. Create, build and manage multi-channel digital promotions, offers and coupon campaigns with digital promotions software. You can generate single or multi-use codes in unlimited formats which can be redeemed in real time.
Increase the value of mobile coupons by personalising your offers this Christmas. A personalised coupon motivates 39% to spend more and 60% would adopt mobile payments if offered coupons, says Koupon Media. With promotions software synced to your CRM you can trace shopper behaviour, basket data and ultimately create a single customer view. This means your customers can receive hyper relevant coupons in the New Year based on past purchases and spend. By utilising mobile beacons you can further trigger promotions as customers interact with your business.
Three out of five (59%) consumers say their opinion of a retailer would be better if they distributed coupons and offers that could be saved to their mobile device. Similarly, two out of three (66%) say they would have a more positive opinion of a loyalty program if it enabled them to save and access information from their mobile device. Digitise your loyalty scheme and build and manage your loyalty proposition with Eagle Eye Reward. With real-time collection of data you can adapt your campaigns according to performance and send personalised rewards. Want a tailored mobile strategy for your business? Get in touch today.
The results are in for Black Friday and it’s not good - even with potentially large price discounts, consumers still didn’t respond well, with like-for-like sales down 0.5% last month and footfall dropping 5.5% post Black Friday – almost double the decline of the previous year. Lessons from 2017 also proved that cutting prices simply cut margins and profitability, without increasing customer demand.
To achieve lasting, in-depth customer loyalty, retailers must develop keen insights into their customers, understand their behaviors and preferences, and deliver valuable, relevant offers and communications to customers based on those insights. To do that, they need connected customer data.