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
If you are wondering how to effectively use mobile coupons, especially in the upcoming holiday season, you should sign up for a free webinar being put on by mobileStorm.
The webinar, “Making Money with Mobile Coupons,” is scheduled for November 11, 2008 at 11:00 a.m. (Pacific time) and will be led by Jared Reitzin. The discussion will focus on how the integration of mobile coupons into marketing campaigns can maximize revenue for small- to medium-sized businesses.
Attendees will also receive specifics on how to launch a mobile coupon campaign, expected start-up costs, and success stories of companies using mobile coupons today.
Topics to be addressed include:
• Consumer response to coupon offers sent to mobile phones.
• Using mobile couponing to increase sales and support consumer loyalty programs.
• Best practices for SMS mobile coupon campaigns.
• Choosing the right SMS coupon technology.
To register, please go to https://www1.gotomeeting.com/register/846137529.
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