Popularity of Mobile Coupons as Evidenced by CodeBroker’s Success
Daily Insight | Sheryl Kingstone | January 21, 2014
Mobile coupons and marketing solutions provider CodeBroker recently revealed that it enjoyed stellar growth in 2013, increasing its overall revenue as well as the number of deals it delivered the shoppers’ devices and locations where they are accepted.
According to Virtual-Strategy Magazine, CodeBroker delivered 85 million scannable mobile coupons to consumers for total estimated savings of US$55 million in 2013. Overall, the company noted, it has delivered more than 150 million such deals since its service went live. Furthermore, more than 25,000 retail locations now accept CodeBroker’s mobile coupons, which is an increase of 25 percent compared to the same time last year. The company enables retailers to set up and deliver coupons to devices, while also providing “a complete picture of their campaigns” to track their effectiveness. Moving forward, CEO Dan Slavin said, CodeBroker will “continue to develop and deliver products that let retailers strengthen customer loyalty through these platforms.”
Yankee Group Research Director Sheryl Kingstone comments
“Mobile coupons are the gateway toward building better relationships with customers and improving mobile customer engagement rates. Companies are investing in mobile coupon programs because they are good for consumers since they ease the redemption process, while also getting consumers used to leveraging their phone in a transactional setting. They’re also good for loyalty since they encourage repurchase potential while also garnering close rates of anywhere from 8 to 40 percent, which is much higher than traditional e-mail marketing.”