Is Digital Couponing the Next Big Thing?
Inspired by the economic downturn and reality TV shows that champion extreme couponing, today’s consumers have rediscovered their affinity for coupons. Traditional print couponing is still going strong, but as mobile technology continues to evolve, digital couponing is becoming a popular way for consumers to scrimp and save.
Digital couponing is a paperless alternative to print coupons and a win-win model for both businesses and consumers. It’s easier for consumers to find and manage digital coupons, while businesses enjoy the fact that digital coupons have a wider reach and allow for powerful promotion. Digital coupons also give companies access to a wealth of valuable data and real-time analytics that enable them to track the performance of their coupons and their customers’ preferences and patterns.
According to a report by Knowledge Networks, digital coupon users are 35% more likely to be prior non-buyers than traditional coupon users, demonstrating that digital coupons can help businesses attract new customers. Digital coupons also help businesses boost loyalty by enabling them to foster relationships with their customers across various channels, including email, the mobile web, and social networks. Some companies even allow their customers to load digital coupons onto their loyalty cards.
How to Engage Consumers with a Digital Couponing Campaign
The key to building a successful digital couponing campaign is creating a digital coupon library with all the deals in one place. By enabling customers to load digital coupons onto their loyalty cards for future use, you can provide them with more value and convenience. Although daily deal coupons are enticing for consumers, they aren’t that beneficial for businesses because they create a spike in sales but typically do not lead to customer retention.
In order to expand their digital couponing campaigns, companies ought to connect with customers using the online channels where their target market spends the most time. Location-based check-in services and mobile coupons are other vehicles that allow businesses to build their brands, provide value to consumers, and boost loyalty. Google reported that 95% of smartphone users have searched for local information, which means that location-based deal searching is likely to become a vital component of the digital couponing craze.
Today’s brands have access to exciting new opportunities in the coupon space – these aren’t your grandma’s coupons! Digital couponing offers businesses plenty of chances to engage and connect with consumers, target their ideal market, and let their ideal market find them. Explore and experiment with various digital couponing methods to boost sales and increase customer loyalty. The social, local, and mobile trend is likely to drive the digital couponing movement in coming years.