The advantages of mobile coupons are starting to become apparent, but marketers are far behind consumers in terms of adoption, says the Shopper Marketing Institute.
Coupons are attractive to marketers because they inevitably lead to a purchase. Consumers love them because they save money. For that reason, 300 billion coupons will be issued this year alone, totaling $4 billion in revenue. However, the vast majority of these will be traditional print coupons.
It's not lost on marketers that their average consumer spends 2 hours and 21 minutes per day looking at their smartphone screen totaling 380 million hours of consumer attention in one day (eMarketer). Moreover, studies show that only 1% of free standing insert (FSI) coupons get clipped and redeemed, where as 10% of all mobile coupons are redeemed. Marketers can now use their preferred method of promotion using their consumer's preferred channel of communication: mobile.
Businesses who listen to their customer's preferences will position themselves ahead of competition and thrive in a mobile world. Here are the steps to guide marketers towards bridging this gap and becoming successful with mobile coupons.