Wondering what the best practices are for driving mobile offer engagement? Koupon Media has you covered.
Just last week the company released the results of a recent study on this very topic. Without further ado, here are the findings.
1. Hook Them Early: Consumers Engaged with Mobile Offers Early Stayed Engaged
As consumers start to engage and redeem offers, they are more likely to remain engaged, especially on their mobile phone. Data shows that shoppers who haveredeemed a retail offer are ~60% more likely to engage with that retailer’s mobile offerings over the next 45 days than those that had only viewed that same offer.
2. Provide Offers Redeemable on Every Shopping Trip
Now that they are actively looking for your offers, make sure you’re delivering something of value. Consumers redeemed whole-store offers at an overwhelmingly higher rate than those offers pertaining to one product or brand. Whole store offers perform 75% higher than offers focused on a single product or category. Consumers want to be able to save each time they shop, not only when they are buying specific products or brands. Delivering offers that are valuable AND flexible drives repeat engagement.
3. Keep the Redemption Window Brief
Drive consumers to make the purchase. Brief engagements – those shorter than 1 week – boast a lift in conversions of 67%. Giving consumers a shorter redemption window drives urgency and improves your campaigns velocity and throughput.
4. Reward Loyalty: Enhance Loyalty Programs with Triggered Offers
Compliment and enhance loyalty programs by rewarding members with relevant and triggered offers. Delivering triggered offers based on consumers meeting loyalty thresholds, such as ‘buy 10 and get 1 free’,’ drives an 8% lift in redemption when compared to offers distributed in mass.
5. Smarten Up: Examine Consumer Interaction with your Offers to Inform your Next Campaign
Taking a closer look at what your consumers are doing with your offers can help to optimize future campaigns. By utilizing advanced analytics, you can identify the ideal offer amount that will drive redemption without breaking the budget and ensure you’re providing offers on the day and time most relevant to your users. Monday–Thursday has less promotional activity, while Friday—Saturday has the highest; and mobile offer redemptions begin to peak at 5pm during the week and end at 10pm, with the window of 4-10pm on weekends.
“Based upon the sheer volume of consumer interactions that our platform powers, we are in the unique position to be able to deeply analyze how consumers are engaging with mobile offers, across various verticals and offer types,” said Ben Lakin, Director of Data Science for Koupon Media, “The overwhelming trend is obvious: offer relevance combined with intelligent engagement is king. Driven by Big Data and advanced analytical techniques, Koupon Media is able to personalize offers for all shopper segments. This gives an unprecedented ability for brands and retailers to drive loyalty and incremental sales.”
Koupon Manager, the Koupon Media cloud-based enterprise platform, is now enabled for enhanced Offer Targeting. The Koupon Manager allows retailers to deliver offers that are highly relevant, based on the shoppers’ location, past purchase behavior, demographics or a combination thereof. With the combination of shoppers’ interactions with mobile offers and store analytics including number of visitors and dwell times, retailers can close the loop on mobile offers driving in-store sales.