Monthly Archives: January 2015

10 Reasons Why Mobile Coupons are Good Business for Retail

by Dan Slavin

good businessGood Business for Retailers Using Mobile Coupons

For many retailers, mobile coupons are good business. Consumers routinely search for them, your competitors use them, and they really do drive traffic to stores. As the mobile phone is quickly becoming the hub of engagement, delivering offers to a consumer’s mobile device only makes sense. For retailers ready to take the next step, following are 10 reasons why mobile coupons work.

#1. Consistent Consumer Experience.

Since consumers are not wed to a particular channel, they should have the option to view and redeem their mobile coupons in the channel of their choosing (SMS, retailer’s app, Passbook, mobile web, email, etc.). The key to a consistent experience is ensuring the mobile offer looks the same, behaves the same, and expires in all the channels a consumer has chosen to view it.

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Mobile Coupon Redemption Rates and Revenue Soar for Retailers Using CodeBroker’s Mobile Marketing Software

by Victor Flueras

Significant incremental revenue and increased customer loyalty just two of the major benefits realized by CodeBroker customers

Belmont, MA, January 20, 2015 – CodeBroker, developer of mobile marketing solutions for retailers, today revealed its customers are seeing redemption rates for mobile coupons that far exceed industry averages, some as high as 50 percent.

A recent customer study showed CodeBroker mobile coupons, ranging from in-app to on-demand offers, resulted in significantly improved redemption rates and return on investment (ROI). The study also showed that multi-channel promotions are highly effective in increasing the redemption rates, while on-demand offers, in which consumers request a coupon, have the highest average rate.

The report findings are based on an in-depth analysis of hundreds of CodeBroker retail customer mobile promotions and more than 7 years of experience working exclusively with retailers. The white paper based on the study details mobile coupon redemption rates by distribution channel, the results of a CodeBroker retail customer A/B comparison campaign, and a number of unprecedented key findings. The included case study highlights one CodeBroker customer that realized nearly $14 million in incremental revenue from a 12-week campaign, using CodeBroker’s unique coupon delivery and security model.

Sample Key Findings

  • On-demand offer redemption rates averaged between 30% and 50%.
  • Retailers who combined email with SMS saw redemption rates of between 15% and 25%, substantially higher than email-only offers.
  • Smartphone app users are highly engaged and redeem coupons at average redemption rates of 8-10 percent.
  • SMS subscribers are highly engaged and redeem coupons at rates substantially above typical print and email rates – between 3% and 10%.

“These comprehensive redemption and ROI results are based on several years’ experience with a wide range of retail chains in terms of size and category, and include some of the top retailers in the country,” said Dan Slavin, CodeBroker founder and CEO. “Our retailers have found that mobile coupons deliver significant payback if they implement thoughtful mobile coupon strategies.”

10 Reasons Why SMS is a Great Mobile Marketing Tool for Retailers

by Dan Slavin

mobile marketing tool

Mobile Marketing Tool for Retailers

#1. Permission-based.

Consumers who sign-up for a retailer’s SMS marketing list really want to start a dialog with the retailer. First, the consumer must text-in a keyword to the retailer’s shortcode or in other words, opt-in to the retailer’s SMS marketing list. Second, the consumer must confirm their wish to receive messages and SMS coupons from the retailer. Lastly, the retailer has to provide a means for the consumer to easily opt-out of the marketing list at any time.

#2. Acquisition.

Using SMS, a CodeBroker retail customer was able to add an average of 10,000 names per day to their SMS marketing list over a three- to four-month time period. Several days the retailer saw over 25,000 sign-ups. Consumers clicked-through from a link in the SMS message to a mobile web form to complete the sign-up process. By doing so, the retailer collected a full CRM record from new subscribers. Unique to CodeBroker is a behind-the-scenes security model that prevents customers from signing up multiple times to receive a generous sign-up offer.

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Fun Facts to Tweet

  • A CodeBroker retail customer added 10,000 names per day to their SMS marketing list for 4 months.
  • Up to 72% of consumers click on a link in an SMS message to view a mobile coupon
  • For just pennies a message, CodeBroker retailers see millions of dollars in incremental revenue