A leading market research company, Juniper Research, this week announced the results of their research into the effectiveness of mobile coupons. Unsurprisingly their findings indicated that redemption rates for coupons received via mobile phone far outstripped that of traditional paper-based coupons.
Howard Wilcox of Juniper commented: “The redemption rate for traditional paper coupons is typically 1% or less, but, based on our survey, mobile coupons offer 6 times these rates. This means that retailers and brands have the opportunity to exploit the mobile channel via personalised coupon offers direct to the ultimate personal device – the mobile phone.”
The reasons for the comparatively high redemption rates are obvious. Firstly you do not need to walk about town with a wallet that is teeming to the brim with coupons. Every coupon adds up and soon you can be left with enough pieces of paper to write a short novel on.
And secondly, because customers have opted in to receive these mobile coupons, the chances are that they have a much greater interest in redeeming them then any old coupon that is shoved in their face.
Mobile coupons clearly have great potential, and it is the businesses that realise this first that will win.
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