Digital Coupon Wallet Drives Revenue For Retailers

6 Reasons to Implement a Digital Coupon Wallet
Written by: Sue LeClaire

A digital coupon wallet gives consumers instant access to all of
your offers in one place. You can deliver mobile coupons, digital coupons, offers, rewards, and
more to your digital coupon wallet, giving customers an easy way to organize and track your
offers. Customers can access your digital coupon wallet via text message, mobile app, email,
website, Apple Wallet and Google Pay.
Implementing a digital coupon wallet, retailers have the ability to:

Drive direct channel revenue
Improve conversion rate
Reduce customer attrition
Grow the app audience base
Grow monthly engagement
Engage in personal 1:1 conversations

DRIVE DIRECT CHANNEL REVENUE. Automatically populate the ecomm shopping cart with in-app mobile
coupons and offers. Consumers will no longer have to jot down or try to remember promo
codes. By simply clicking on an offer, the discount will be placed in the shopping cart along with
the appropriate merchandise. The mobile coupon is then redeemed during checkout.
IMPROVE CONVERSION RATE. Delivering targeted offers to consumers encourages conversion rates
(number of customers who make purchases in the mobile app over the number of active customers). As
documented in a recent Accenture report, “60% of organizations surveyed indicate they are seeing a
positive ROI on their investments in personalization technologies.” Personalization can include
anything from displaying a name on the offer to delivering mobile coupons based on previous
purchases.
REDUCE CUSTOMER ATTRITION. As every retailer knows, it costs more money to acquire a new
customer than to retain an existing customer. Delivering in-app mobile coupons are a proven method
for driving consumer engagement within a retailer’s mobile app. Providing one-time-use offers to
customers lets the retailer deliver rich offers to consumers without the fear of the offer going
viral. In addition, the retailer is able to track how the mobile coupon is consumed within the
mobile app – when it was delivered, viewed and redeemed providing a complete picture of the
purchase path.
GROW THE APP AUDIENCE BASE. As an incentive to download the mobile app, retailers should deliver
a mobile coupon welcome offer. An example of a mobile coupon welcome offer is 20% off of the
customer’s entire purchase. A generous welcome offer is a great way to thank a consumer for
downloading the app as well as providing coveted personal information about themselves, such as
name, email address, zip code, and even special interests
GROW MONTHLY ENGAGEMENT. Escalate mobile app engagement with PUSH notifications. Alerting
consumers when new in-app mobile offers or capabilities are available keeps customers continually
checking back to the mobile app for the latest deals. In addition, retailers can deliver alerts
notifying consumers when an offer is about to expire creating a sense of urgency.
ENGAGE IN PERSONAL 1:1 CONVERSATIONS. Personalization is key to building connections with a
retailer’s existing customers. According to InfoSys, “Almost one-third (31%) of surveyed
consumers wish their shopping experience was more personalized than it currently is.”
Personalization may include targeted offers or product recommendations based on prior purchases.
In addition, the report states that 86% of consumer’s future purchases are influenced by
personalization.
From the consumer’s perspective, a digital coupon wallet aggregates all of the offers a consumer
has touched into a single location providing immediate access to a retailer’s mobile coupons. No
more hunting through glove compartments, kitchen drawers or various mobile apps to find the
appropriate offer for today’s purchase. As outlined in a recent study, CodeBroker retailer
customers see significantly higher redemption rates from in-app mobile offers compared to other
channels. In addition, mobile offers are another reason your customers will regularly engage with
your mobile app to see what’s new and exciting.