In the recent years, we have witnessed the boom for mobile commerce and mobile coupons are responsible and are attributed to this growth. In fact, mobile coupons are better redeemed ten times more than the traditional print coupons also; the number of mobile coupon user was estimated to reach more than 53.2 million last year. Combining this data with the increase on mobile usage by on the go consumers, it is clear that mobile coupons are the perfect solution for growing your small business and attracting customers who are looking for discounts through the use of their mobile devices.
It is estimated that nearly 20 million US adults will redeem a mobile coupons, including coupons or codes received via SMS, applications and mobile web browsers; group buying coupons purchased via mobile and quick response codes for redemption online or offline.
The coupon audience will post double-digit growth rates annually through 2016, as this will be driven by continued smartphone and tablet usage as well as the spread of the different of digital channels offering coupon easily accessed by mobile: email, social networks, daily deal and group buying websites, and mobile apps. It is expected that by 2016, mobile coupon users will represent nearly 83 percent of all digital coupon users by 2016!
With these data estimates, there are a number of different ways to engage consumers and drive revenue opportunities, to name a few:
- Coupons – The mobile coupon audience will be at double digit rates annually through 2016, given the continued smartphone and handheld device usage.
- Loyalty Programs – Consumers expect that they are to be rewarded for brand loyalty, particularly the millenials.
- Geo-Targeting – This has boosted the success of SMS based coupons with retailers seeing higher redemption rates from coupons sent to consumers close to their business location.
Geo-targeting, coupons, and loyalty programs can be offered, tracked and monetized with a mobile engagement platform. Additional revenue opportunities include banner ads, mobile video, rich media and SMS (text) campaigns. Keep in mind that more points of friction in the redemption process will greatly reduce the use of offers that are mobile based.
Keep it simple for consumers to redeem your offers.