The Coupon, a marketing gimmick that provides consumers with a rebate or a discount on various products, originated in the early 20th century. Now, it is one of the most important marketing tools and has become ever popular with most online retailers. The world of online shopping has grown in leaps and bounds, thanks to smarter, efficient and agile, and sophisticated mobile gadgets. Consumers now use their mobile devices to search for and purchase products they want. Feeding this online shopping frenzy is the digital coupon marketing.
Infographic Source- Digital Coupon Marketing
A windfall of gains in digital coupon marketing has been seen in the online shopping platform and is expected to double over the next three years.
According to Marketing Blog, digital coupons are driving Omni-channels and mobile sales. The following statistics and trends, courtesy of Invesp, will give you more insights into the incredible potential of digital coupon marketing.
A total of 16 billion coupons were redeemed in 2014. By 2019, this will have grown to 31 billion coupons, of which 1.05 billion will be mobile coupons. In 2015, about 57.5% of U.S consumers used digital coupons while shopping. This will grow to about 59% by the end of 2016.
Mobile couponing is the way to go
Despite the fact that only 48% of U.S companies will use mobile coupons, up from 36.5% in 2014, statistics indicate that 55% of consumers use mobile while searching for coupons, and 83% of all digital coupon users will use mobile by 2016.
According to Mobile Commerce Daily, 62% of smartphone users are extremely likely to use coupons. An eMarketer report about digital statistics found similar figures in 2014, predicting that at least 70% of mobile users will hunt for online coupons by 2016.
Emails with coupons have more clicks and open rates
As more and more sellers bank on upon digital coupons to attract new sales and to increase conversions, one should underestimate the power of email marketing. Experian’s Email Benchmark report 2013 shows that emails with coupons experience more success than those without. Here are some of the notable findings by Experian:
Emails that contain coupons experience 14% higher open rates and perform 34% better when it comes to unique clicks. Moreover, these emails experience 27% rise in transaction rates and 48% increase in revenue per email compared to other types of email campaigns.
According to Inmar, people actually want to be sent digital coupons for products that they usually buy. 53% of shopper who receive personalized coupons spend more. So you should give your customers what they want. In particular, 77% of shopper spent $ 10-$ 50 more than anticipated when redeeming mobile coupons
What do customers think about digital coupons?
Customers are actually more than receptive of digital coupons. According to Amasty,
- 66% of consumers think coupons helps in building brand awareness.
- 68% of customers say coupons generates customer loyalty.
- 60% of customer say they simply love to receive coupons.
- 50% of shoppers say they are likely to visit a store if they receive a coupon.
Bottom Line
Taking into account these digital coupon usage statistics and trends marketers should distribute coupons through several channels to increase sales, email open rates, brand awareness and create customer loyalty.
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