Why Mobile Coupons have 10x higher redemption rate than traditional coupons

Mobile Payments

Of all the advantages that mobile coupons offer, one that stands out is they have a much higher rate of redemption than traditional coupons; an Industry average of 10x higher redemption rate, according to a recent Business Insider report. What is it about mobile coupons that lead to such a high redemption rate?

Mobile Coupons are, first and foremost, convenient to clip, carry and use for consumers.

With the advent of services such as iOS’s Passbook, Mobile Coupons can be stored and carried everywhere at all times. You don’t have to think about which coupons you are bringing to store for redemption. Everything is in one place, a click or two away. Nor do you have to look for the coupons in and around your house, in the car, on the grocery receipt, or in the back of a box. Find your Smartphone and you have found all your mobile coupons.

Mobile Coupons have powerful, effective tracking capabilities for marketers.
Marketers can unlock new insights through mobile coupons: who is interested in what kind of offers, and where and when do they clip and redeem them? Additionally, it’s simple to combine simple mobile loyalty services with mobile coupons. This creates a mobile opt-in database—aka mobile “loyalty list”—and is the key to today’s business success. As a business grows its mobile database, it can cost-effectively remarket to its existing mobile coupon aficionados.

Mobile Coupons are… Mobile.
Time and again, consumers have shown a preference for receiving coupon deals while they’re near or inside a store. Marketers can send targeted mobile coupons when a customer is near their store, inside their store, or even in and around a competitor’s store. Done right, you will earn your customer’s loyalty while adding value for them.

Here are 4 other facts you may not have known about mobile coupons:

  1. 34% of smartphone shoppers use their devices for mobile coupons (Nielsen).
  2. 47% of mobile consumers want retailers to send coupons to their devices when they are in or near the store (Loyalty360).
  3. 25 million Americans use coupon apps each month (The NPD Group).
  4. 55% of consumers are interested in receiving reminders of available mobile coupons, but only 10% receive them (Mercator Advisory Group).
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