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.”