New research from mobile marketing leader CodeBroker shows consumer preferences for mobile coupons.
Higher coupon redemptions and purchasing trends can be attributed to mobile coupons delivered via text messages, according to recent consumer research conducted by CodeBroker, a developer of mobile marketing solutions. The mobile coupon survey polled 1,204 U.S consumers divided between 55% female and 45% male with most falling within the 30-44 age group. Nearly a third of survey respondents were young consumers from 18 to 29 years old.
“According to a Deloitte study, people check their phones every 15 minutes on average. We were prompted to sponsor research on mobile coupons knowing how dominant smartphones are in the lives of people everywhere,” said Dan Slavin, CodeBroker CEO.
“We’re seeing a feeding frenzy among marketers jumping to exploit mobile coupons because the data supports the hype – 25% of consumers tell us that they redeem coupons they request via text within three days and 60% tell us that they redeem within a week. This corresponds well to our own observed redemption rates of 30-50% for on-demand coupons.”
Top Survey Findings
Nearly half of all consumers prefer mobile coupons versus printed paper coupons. While nearly a third of consumers in the survey still prefer to print paper coupons at home, 69% prefer to store and redeem mobile coupons from their phones rather than download and print coupons.
Welcome coupons provide a great incentive to drive list sign-ups, with 68% saying that they are more likely to join a retailer’s/brand’s marketing list if they receive an instant coupon.
On-demand coupons drive purchases, with 78% saying that they are likely or very likely to redeem a coupon that they request in response to an ad. This is even higher than CodeBroker clients’ historical redemption rates of 30%-50% redemption rates.
A majority of consumers (68%) indicated they would be more likely to join a brand’s marketing list if they offered a coupon for joining.
Consumers are willing to make a tradeoff between the amount of discount a coupon offers and frequency of use, concluding that single-use coupons work best. That’s because 77% of consumers prefer a coupon with a higher discount that they can use only once, as opposed to a lower-value coupon that can be redeemed more than once.
More than half of consumers cite “not having coupons when I need them” as a top frustration.
For a complete copy of the Mobile Coupon Consumer Research report please click here.