If there’s one thing everyone can agree on– it’s that saving money wherever possible is a must. Sometimes a few dollars here – and a few dollars there – can really make a difference in creating the extra budget needed for expenses.
To help save on costs – and thanks to the popularity of TV shows about the possibilities - couponing has become a popular practice for a growing number of consumers looking to better budget their spending.
For retailers, this means not only offering the incentive for shoppers, but it also means knowing just what to offer an how to help them save money, while also growing their basket size.
CodeBroker, a provider of mobile solutions for retailers including coupons to help influence shoppers’ purchase behavior, has announced findings from a recent study that show its marketing software offering is allowing mobile coupon redemption rates to exceed industry averages.
According to the company, some of its customers are seeing redemption rates for mobile coupons as high as 50 percent. This includes both in-app and on-demand offers as well as multi-channel offers.
Among the most popular form of offers according to the customer survey were on-demand offers, where a consumer requests that a coupon be sent to them.
Other findings uncovered that those retailers who sent both SMS and e-mail offers to customers had higher redemption rates compared to those companies that only sent out offers via email.
“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.”
If you’re interested in hearing more about the future possibilities of Point of Sale solutions and how M2M and the IoT can match consumer wallets and impulse with marketing and advertising to create buying like we have never seen before – then be sure to attend the session titled, “THINGS IN MOTION” Room B121 on Thurs., Jan. 29 at 3 p.m. at the M2M Evolution Conference & Expo.
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Edited by Maurice Nagle
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