Coupons are a frequent arrow marketers pull from their quiver, but with the help of mobile technology and mobile wallet, this incentive marketing tool becomes even more effective. Many of our customers have turned their physical and online coupons into living, breathing mobile content with Vibes’ help.
Today, our friends at Forrester Research, Inc. published a new report for B2C marketers, “Count On Contextual Coupons,” that reveals a number of fascinating findings. Some of our favorite takeaways included:
- Coupon redemption is skyrocketing. In 2013, 66 million digital coupons were redeemed — a 141% increase from 2012.
- Coupons promote health, happiness and the ability to handle stress. A study found that recipients given a $10 coupon while grocery shopping breathe easier, sweat less and are more relaxed than those without a coupon. What brand wouldn’t want to positively influence their customers in this way?
- Target Generation Y with travel and entertainment coupons. Gen Y-ers use coupons for travel and entertainment (e.g., event tickets, car rentals, hotel reservations and airline tickets) more frequently than any other consumer.
- Mobile wallet brings context to coupons. Brands can use Apple’s Passbook and Google Wallet to drive coupon redemption and store visits by delivering a coupon to a specific user when they are in close proximity of the store. For example, our customer Pep Boys was included in the report for seeing a 30% redemption rate for coupons saved by customers to Passbook or Google Wallet.
- Consumers want the convenience of mobile coupons. Over two in five consumers (42%) say they use coupons all the time and nearly one in five (18%) say they would use coupons even more if they could be stored on their phone. We can help with that!
Mobile is definitely an exciting place to be right now. We believe that this report, coupled with Apple and Google’s recent investments in mobile wallet and Forrester’s Future of Mobile Wallets report released just a few months ago, are giving marketers the extra incentive to make mobile a true focus for their marketing strategy. Any questions? Give us a call.