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Benefits of coupons for consumers, retailers and manufacturers

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  • 1. Savvy Marketing for Savvy Shoppers Why using coupons matters - for consumers, retailers & manufacturers 1Mark Arnold, M-Cubed Consultancy, 2013. markarnold07@gmail.com
  • 2. Searching for deals is the new norm; and growing in favour Fuelled by the slow economic recovery, shopping habits across all demographics have changed. 2 74% groceries 61% restaurants 43% clothes 32% books 31% electronics What are coupons used for? 448m Total redemptions in 2012, + 33% 77% Of shoppers admit to feeling pressured to shop around for a deal 61% Of shoppers use coupons, +17% 74% Of AB households plan to use coupons (59% on average) Consumer benefits •  Value for money •  Convenience •  Relevance •  Decision making •  Perceived value 17% redemption decline in US (NCH Marketing 2013) “I can’t find coupons for the products I want to buy” 46% of shoppers Mark Arnold, M-Cubed Consultancy, 2013. markarnold07@gmail.com
  • 3. Coupons provide flexibility and control for different marketing/operational goals 3 Goal/benefit Grow market share Attract new customers, entice lost customers. Expand markets via viral/social sharing activity. Attract new demographics via digital channels. 37% of shoppers looking for more offers than last year - Valassis Application – retailers and product manufacturers Foster loyalty Reward with offers/discounts and reassure on price. Deliver value & relevance for different customer segments. 71% - likely to be more loyal to a brand – Forrester 2012 Increase customer value Encourage upsell and cross-sell of existing and new products. Encourage multiple purchases. Active users (6+ redemptions in 12mths) – 71% higher average spend then light users – Forrester 2012 Increase footfall Encourage store traffic for individual stores – new/declining stores, store openings Launch products Trial and test reactions to new products – geographically, by retailer, by store, by customer segment, by time period. Adapt for seasonal products/brands. 68% of coupon users trial new brands – Forrester 2012 Manage stock levels Direct redemptions to specific retailers. Reduce excess stock and discontinued stock lines. Mark Arnold, M-Cubed Consultancy, 2013. markarnold07@gmail.com
  • 4. 65%   Coupons influence purchase decisions on a complex shopper journey In-store or online, it’s a crowded, competitive environment with a vast range of influences - difficult for shoppers to make a choice or do the comparative math. Coupons drive: Resonance Engagement Conversion 4 Search Evaluate Buy In-store At home On the go Location Perception Friends Reviews “Coupons often finalise the decision for me if I’m undecided” Forrester 2012 Right offer; Right time; Right channel Mark Arnold, M-Cubed Consultancy, 2013. markarnold07@gmail.com
  • 5. Distribution and redemption options have evolved for the digital age 5 New distribution and redemption technologies offer a more rewarding experience for shoppers and improved financial returns for retailers and manufacturers. 7% of consumers redeem digital coupons – 250% growth rate in 12 months – Valassis 2012 Apple Passbook Email/print at home Mobile location Social integration Distribution channels Be#er  brand  engagement     Greater  shopper  convenience     Earlier  buying  decisions     10%  vs.  1%  redemp=on  rate     Benefits Near Field Communication Redemption technology E-Clearing SmartPIN Less  =me  at  =ll     Improved  cash  flow     Real-­‐=me,  deeper  insights     Quicker,  flexible  changes     Mark Arnold, M-Cubed Consultancy, 2013. markarnold07@gmail.com
  • 6. Multi-channel delivery options allow integrated communications Mark Arnold 2013. markarnold07@gmail.com 6 Newspapers Direct mail Point of sale Email Mobile Loyalty card On-pack ATM
  • 7. In summary Coupons … •  Deliver value, price differentiation and personal relevance for shoppers brand/outlet choices. •  Finalise quicker shopper purchasing decisions. •  Change shopper behaviour, benefitting a range of marketing & operational goals. •  Work within a multi-channel marketing mix and shopper journey. •  Create a lasting connection in a competitive, deal driven environment. Mark Arnold 2013. markarnold07@gmail.com 7
  • 8. Mark Arnold, M-Cubed Consultancy markarnold07@gmail.com 8Mark Arnold, M-Cubed Consultancy, 2013. markarnold07@gmail.com

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