By Dan Slavin
CodeBroker’s recent 2018 Mobile Coupon Consumer Research Report shows that the battle between mobile coupons and traditional printed coupons is about to reach a tipping point. The survey indicates that while 53% of consumers still prefer paper coupons, the percentage of those who prefer mobile coupons is now at 47%, and that preference is growing.
The research shows that mobile coupon redemption rates are very high, which is compelling news for retailers looking to create short-term traffic surges: 25% of the research participants said that within three days they would redeem a mobile coupon they received via text message; 60% said they would they would redeem the mobile coupon within a week.
Convenience plays a large role in the growing acceptance of mobile coupons. The survey shows that while 69% would prefer to download mobile coupons to their phone, only 31% said they would prefer to download and print it.
How Retailers Can Maximize the Impact of Mobile Coupons
While the coupon research offers news that should re-energize retailers about mobile coupon use, it is how these coupons can be specifically used that should add to the excitement.
Based on the information the survey provides, the following strategies should be effective:
- Send coupons via text. Since consumers prefer the convenience of mobile coupons and place a high sense of urgency on text messages, SMS coupons can prove very valuable.
- Grow your SMS subscriber list through instant gratification. Offer a mobile coupon to incentivize consumers to sign up for your SMS subscriber list or loyalty program. You can also grow your SMS subscriber list by offering on-demand coupons.
- Employ higher value, single-use mobile coupons. High-discount, single-use mobile coupons have more perceived value than lower discount, multi-use coupons.
Check out the research report for insights into additional strategies.
For retailers and marketers, the trend is undeniable and irreversible. As mobile coupons continue to grow in popularity, they will increasingly attract new customers and build repeat business for stores while enabling retailers to differentiate themselves from competitors.
For a more detailed look at consumer’s preferences for accessing and using mobile coupons, read the 2018 Mobile Coupon Consumer Research Report.