As our dependence on digital services grows, so too does digital coupon use. According to a Juniper study, redemption of digital coupons will exceed $90 billion by 2022. They’re much more convenient for customers than paper coupons, but what strengths do they provide agencies and retailers launching coupon campaigns? Let’s take a look.
Digital provides more accurate targeting. With traditional print media agencies rely on an indirect approach to attract an audience, hoping that the ad alone will appeal to whoever comes across it. Direct mailers may guarantee that recipients will actually see your copy, but they offer no means of honing in on a specific demographic.
Digital coupons, however, can be employed in ways that ensure the people you want to see them will. A digital coupon posted on a clients website, social media page, or mailing list will first be seen by those who are already subscribed to or are following those pages. With a little more effort, you can post the coupon as an ad through platforms like Facebook and take advantage of their powerful demographic targeting tools. Regardless, going digital takes the guesswork out of finding an audience that will respond positively to your coupons.
You can track statistics with digital coupons. Another inherent problem with traditional coupons is having no way to effectively track their usage. You know how many you printed, maybe even how many were distributed, and when a campaign has finished you might know how many were used, but there’s a lot of valuable information you can’t keep track of, like age demographics, how long a customer waited to redeem a coupon, on what days most of the coupons were redeemed, and more. Each of these metrics can be used to improve future campaigns.
When your agency uses Octopon to create a digital coupon campaign, you also gain access to a wide range of metrics. You can use them individually or together to develop a strong picture of what your customers value, how they responded to the campaign, and how different demographics used the coupon itself. Simply put, it’s another way to gather information about your customers in a clear, non-invasive way.
Digital coupons reach more customers. A physical paper coupon has a limited reach. If you’re doing direct mailings, it stops at the mailbox. If you’re distributing them in-store, it likely won’t go beyond the customer you handed it to. At first, this may not seem like such a bad thing. After all, a coupon can only be used once, so why should it travel beyond one person?
The answer, of course, lies in reach. The farther a coupon travels, the more people it will be seen by. Digital coupons naturally lend themselves to this sort of sharing, especially when shared through social media or e-mail. With either method, you can encourage those who initially see it to spread it among friends and family. Not only will this get more eyes on your offer, but it creates another opportunity to reach new audiences and convert more customers in the long-term.
If you’re looking to go digital with your coupon campaign, visit Octopon.me to learn more about digital’s strengths as well as Octopon’s unique benefits.