Driving sales with digital coupons
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Driving sales with digital coupons

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Did you know that 16.5% of mobile phone users in 2013 will use mobile coupons? And that digital coupons have 10 times the redemption rates of traditional coupons? If you're not using digital coupons, ...

Did you know that 16.5% of mobile phone users in 2013 will use mobile coupons? And that digital coupons have 10 times the redemption rates of traditional coupons? If you're not using digital coupons, you're leaving money on the table. Learn the ins and outs of creating and sending digital coupons for mobile, including web coupons, QR codes, text coupons, and email coupons. (These slides accompanied our August 14 live webinar on digital coupons.)

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Driving sales with digital coupons Driving sales with digital coupons Presentation Transcript

  • Katherine Raz, Community Manager @ Signal Questions? •  Type your question in during the webinar •  Tweet @Signal or use hashtag #GetSignal •  A recording of this webinar will be available tomorrow at YouTube.com/TheSignalhq invite others to join: JoinWebinar.com code [129-861-947]
  • •  Why use digital coupons? •  Advantages of digital coupons for retailers •  How digital coupons work •  Controlling redemption on digital coupons •  Example digital coupon program customer flow •  Determining digital coupon ROI
  • Signal is an all-in-one marketing platform where businesses can manage: •  Email newsletters •  SMS marketing •  Social media publishing •  Content tools (landing pages, short URLs, QR codes) and promotional tools (sweepstakes) for building your customer database •  Customer database, including tracking engagement across channels •  Sign up for a free trial at Signalhq.com About Signal
  • Why digital coupons? itsgreg, via Flickr Consumers want them •  2013 YouGov study found: 65% of consumers are open to receiving offers on their mobile phones •  51% of consumers want offers that provide discounts and are not interested in receiving advertisements that don’t offer any type of discount or offers
  • % of mobile phone users using coupons 9.5% 13.5% 16.5% 2011 2012 2013 Source: Microsoft Tag study
  • How do coupons help my bottom line? They help build your lists! •  Digital coupons can be followed by an opt-in prompt •  Customers who may otherwise not join marketing lists will when presented with an opt-in incentive like an immediate coupon •  Like print coupons, they can be distributed outside your locations •  They capture data •  2011 Knowledge Networks study on digital coupons for CPG found that 46% of digital redeemers were prior non- buyers of the product, compared to 34% for traditional print couponslynnfriedman via Flickr
  • Digital vs. traditional StockMonkeys via Flickr How digital trumps print •  Digital coupons attract more new buyers than print coupons by a margin of 35% (Knowledge Networks) •  Digital coupon printers are 35% more likely to have a household income of $75K+ and 17% more likely to have college or advanced degrees (360i) •  Digital coupons have higher redemption rates than traditional coupons •  Digital coupon impressions are trackable •  Digital coupons are often cheaper to send > cost to send them can be directly related to redemption
  • Why retailers love digital coupons Better targeting, lower cost •  People who receive them are already opted in to your list -- paying to reach them makes more sense •  Print costs are increasing while readership dwindles, especially in younger age groups •  Mobile coupons can be personalized {{first_name}} and segmented based on any data you collect •  Mobile coupons work in real-time (90% of SMS recipients read their text messages within three minutes) kevinomara via Flickr
  • How do digital coupons work? stuckincustoms via Flickr
  • How people prefer to receive digital coupons Source: Microsoft Tag
  • Customers scan a QR code QR code links to mobile- optimized landing page that contains web coupon
  • Keeping tabs on coupon & QR code stats
  • Text to get an in-store coupon Sample call to action Join our text club! Text KEYWORD to SHORT CODE to receive an immediate $10 off your purchase today. These types of coupons are great if you’re trying to build your SMS list. The first prompt will subscribe them to your SMS list, followed by a post opt-in message that contains your coupon.
  • How to set up your post opt-in coupon send PRO TIP: You can also insert a link to a web coupon here by clicking “insert coupon,” but keep in mind only smartphone users will be able to view it.
  • Email customers a mobile-optimized coupon
  • … or email a link to a web coupon Use web coupons to: •  Control view limits and set dynamic expiration dates •  Personalize coupons to the individual •  Track analytics
  • Send an SMS coupon 3 ways to serve up text coupons: •  Use a non-unique code and include a static expiration date •  Insert a link to a web coupon •  Use a unique text coupon code that changes for each recipient
  • Share coupons via social channels
  • But how do I control redemption? chuddlesworth via Flickr
  • Send individual coupon codes Upload a database of unique codes Each text you send with the {{coupon.code}} tag will populate with a unique code for the individual.
  • Set expiration dates
  • Create view limits
  • Use timer countdowns
  • How do we integrate with our POS? jojakeman via Flickr
  • Show the cashier manhat64 via Flickr
  • Coupon codes online nycarthur via Flickr Use unique coupon codes, or a single code that activates a discount.
  • Scan a barcode herzogbr via Flickr Not all POS scanners can scan barcodes displayed on LCD and LED screens. Be sure to TEST YOUR POS before sending out barcodes without a backup code that can be manually entered if not scanned off the phone.
  • Sample coupon marketing flow Promotion prompts entry Customer opts in Customer receives immediate coupon More coupon offers sent Survey sent asking for segmentation data More coupon offers sent
  • A good “starter” coupon: birthday clubs clevercupcakes via Flickr PRO TIP: You can also use this feature to send coupons at any time increment after someone joins your list (one month, 6 weeks, one year)
  • How do I determine ROI? amagill via Flickr
  • How much do digital coupons cost? jdhancock via Flickr Start by calculating the monthly cost of your digital coupon software. Your Signal account includes some messaging: •  Text message coupons are calculated the same as text messages •  Email coupons are calculated the same as emails •  Web coupons are just like landing pages At $99/month, 5,000 SMS messages and 25,000 emails are included. Each additional SMS message is just a penny.
  • Calculating coupon redemption rate & sales worldbank via Flickr Coupon  redemption  rate  (%)  =          coupons  redeemed  (#)          coupons   distributed  (#)       With your coupon software, you’ll know: •  How many coupons were distributed? •  How much did it cost to send the coupon? •  How many people viewed or clicked the coupon? Your POS tell you: •  How many coupons were redeemed? •  What was the average check total with coupon redemption?
  • What kind of redemption rate can I expect? flowerego via Flickr   Redemption rate varies by industry and by offer. •  Kwik Trip gets 10-13% redemption on free offers and 2-3% redemption on 50-cent coupons •  IHOP got a 10% redemption rate on a free stack of pancakes •  A 2010 Mobile Commerce Daily case study reported a 40% redemption rate on mobile car wash coupons Free offers generate higher redemptions. Try internet searches for digital or mobile coupon redemption rate in your industry.
  • Twitter: @Signal or #GetSignal Facebook: Facebook.com/SignalHQ Blog: Blog.SignalHQ.com Ask our team about your marketing plan: hello@signalhq.com Next webinar: How to manage a social media sweepstakes Wednesday, Sept 11 at 2PM CDT Register: http://sgnl.cm/sweeps