Earlier this week I sent out an email announcing that one in four mobile phone users will redeem a mobile coupon in 2014. Today I discovered eMarketer has revised that prediction. Now they say that one in three smartphone users will use a mobile coupon this year.
Wow. Combine this with the statistic from a BI Intelligence study showing that mobile coupons are redeemed 10 times more than paper coupons and it makes mobile coupons a powerhouse marketing strategy that should not be ignored.
If business owners or marketers want to take advantage of this powerful strategy, here are three steps to getting started with mobile coupons and doing it well.
Three Steps to Mobile Coupon Success
There are several components to a coupon: the offer itself, delivery method, expiration date, redemption methods and even marketing of the coupon.
Build a Smart Offer
A successful coupon meets the desires of the customer and is a sound business move for the business. Design your offer accordingly.
The discount offered must be significant enough that a customer will take the necessary actions to redeem it. They must be persuaded to go to the business to shop. (Or click the link to shop online.) Then they must remember to do what is required to redeem the offer. Using a coupon requires a bit of extra work for customers, so make it worth their while.
Simultaneously, you need to make the offer one that is a good deal for your business too. Don’t offer coupons that cause you to lose money when people redeem them. Make them ones that you would be thrilled to have people pass around or even use more than once because every time they are used, you are making money.
Figure out the Delivery Method
There are many different ways to deliver mobile coupons: SMS Text Messaging, Mobile Web, Mobile App, Deal Sites, etc. What you want is to find the method that works for your customer base and that works with your redemption methods.
If you have to have something that ties in with your POS then start with that and work backwards. If you can work with people showing your cashier a text message, then keep it simple and go with that.
Two key components of a successful mobile coupon campaign are that you can reach your customers and that they can redeem the coupon easily. Find the delivery method that works best for your situation and go with that.
Get Started Now
With the rapid growth of mobile coupon use, now is the time to get started. If you want to have more customers in the door, consider this powerful technique. Don’t wait until your competitors have already captured your customer base on mobile.
Want Help with Your Mobile Coupon Campaign?
Check out How to Create and Deliver Mobile Coupons that Drive Customers to Your Door at 10 Times the Rate of Old-School Paper Coupons
Since the first edition of my book (The Mobile Marketing Handbook) came out in early 2009, people have been asking me how to start a business in mobile marketing. Last week I discovered a new idea to add to my answer about how to do it.
Most of the thousands of people I have helped to start and build their mobile marketing businesses have done it via the local business service model – by helping businesses use mobile marketing to bring more customers in the door. I love this business model and, as my core business, continue to train and teach this aspect of building a business.
It is not for everyone though. Some people are people attracted to mobile and the concept of doing something with it, but they don’t really want to start a service-based business.
Until now, I haven’t really had anything to suggest to those folks.
Now I do.
It is a mobile-focused business that can be started for less than $10 and is not about selling mobile services to businesses.
If that sounds intriguing to you, then please check out this website. I highly encourage you to watch the quick videos on the home page and be sure to see the App Questions section of the FAQ.
If you already have a local business mobile marketing company, this is something you can do completely separately in order to have something mobile you can offer to consumers. Plus, for certain types of businesses who might be your clients, this could make an excellent source of residual income for them and you.
Not that I am comparing myself to Moses, but I am taking on the responsibility of writing out the 10 Commandments of Mobile Marketing.
And while they are not being presented to you on a stone tablet, it would be wise to consider these as set in stone if you want to succeed in mobile marketing.
- IMMBN IMMBN International Mobile Marketing Business Network
- BOOK HANDBOOK The Mobile Marketing Handbook by Kim Dushinski
- SMS BUSINESS TEXT MSG BUSINESS How to Start and Grow an SMS Text Messaging Business
- MOBILE WEB BIZ MOBILE WEB How to Start and Build a Mobile Website Building Business
- SPEAKING SPEAKING Invite Kim Dushinski to speak about mobile marketing