Coupon Your Business To Success

 

Coupon Management System

 

Statistics show that by 2019, there will be an estimated  1.05 Billion Mobile Coupon Users. And an estimated of 31 Billion eCoupons will be redeemed globally. [1] Why?

Well, because almost everyone today has a smart phone and who doesn’t love coupons?

With the digitization of coupons, eCoupons are more accessible than ever. Today businesses play on this trend by integrating their business strategies with a Coupon Management System.

Coupon Management System

Figure 1: Coupon Usage Statistics (Source: 2k18 Valassis Coupon Intelligence Study)

What Is A Coupon Management System Exactly?

Simply put, a Coupon Management System is a promotion tool that helps to create, manage and track coupons in real time. A coupon management system helps you engage with your customers while giving you real time data of how and when the coupons are being used.

But Why Should A Business Implement Coupon/Incentive Programs?

Coupons are a powerful tool to attract new customers. In a survey by Market track 83% of shoppers have made an unplanned purchase based on a promotion/coupon[2]  And according to a Valassis coupons report  In comparison to two years ago, there are significantly more consumers who say they always use coupons, driven by an increase in millennials’ frequency of coupon use.

Coupon Management System

Figure 2: Coupon Usage Statistics (Source: 2k18 Valassis Coupon Intelligence Study)

If your customers love coupons, then so should you. Here are some reasons why business today are implementing elaborate coupon strategies…

Coupon Management System

Figure 3: Benefits of a Coupon Management System

1. Acquiring New Customer Data

Data is king… Coupons can be used to lure new customer to your store/ restaurant in order to acquire their data and then use the data for your future marketing campaigns.

2. Increasing Brand Awareness

Another good way to keep your brand in the minds of people is to have consistent branding across Physical/Digital coupons. This helps to boost brand recognition

3. Attracting New Customers

As we said before, who doesn’t love coupons. According to Send Owl,  there are three sweet spots for discounts: 20%, 33% and 50%. These discounting strategies resulted in the maximum number of orders for their users. [3]

Rewarding new customers makes them feel motivated to visit your store. This helps to grow customers and boost sales.

4. Retaining Loyal Customers

One way of using coupons is by rewarding your loyal customers, they are likely return and shop from you more often. Also limited time coupons can be a great strategy to ‘pull in customers’. This motivates the customers to claim their “reward” faster.

5. Reducing Business Costs

Ad placements in main stream media is expensive. A combination of google ads and coupon strategy can work effectively to reduce marketing costs and reach out to a more targeted audience looking for your products resulting in a positive ROI.

Millennials & E-commerce

Online shoppers are big seekers of value. In fact, when shopping for Food and HH goods, these consumer’s paper and paperless coupon usage is higher than all consumers. [4]  

Coupon Management System

Figure 4: Millennial Coupon Usage (Source: 2k18 Valassis Coupon Intelligence Study)

Another major reason for the rise in use of online coupons is that it is majorly driven by the prevalence of smartphones. It is interesting to note that millennials will account for an estimated 30% of total consumer product dollars spent by 2020. [5]

And according to Nielsen study, millennials are money conscious and often crunched for time. Businesses make use of these two trends by changing the ways of how to relay marketing information to their consumers. Marketing trends show that Millennials are in favour of digital coupons because of their ease of accessibility.

 

96% of Millennial mobile users search for digital coupons to discover promotions and deals before making a purchase. [6]

 

Implementing Your Own Coupon Program

Implementing the right coupon program  involves so much more than just creating and distributing coupons. The overall management, discount value, KPI’s, personalization, reporting etc all needs to be taken into consideration. It is always advisable to use a modern coupon system that can integrate well with your other systems (if needed) for seamless processes.

If you are ready to kickstart your first coupon campaign, check out VoucherMatic –  an omni-channel promotion engine to Create, Manage, and Track coupon codes, discounts, loyalty programs, referral rewards, and product bundles with real time marketing automation.

Coupon Management System

VoucherMatic Features

• Easy & Interactive User Interface
• Easy Redemption Process
• Instant Delivery to Customers
• Deliver Direct to Customers via Any Media Device
• Minimal Learning Curve
• Create & Customise Attractive Vouchers Optimised for All Platforms
• Actionable Analytics on Customer Behaviour
• Easily Integrated into Any Marketing Campaign
• Highly Secure

VoucherMatic- Coupon Management System

The following are the various screens of VoucherMatic. This is to show how easy and user friendly the system is.

Campaign Manager – This feature allows you to create, manage and track your coupon campaigns.

Coupon Management System
Figure 6: Campaign Manager

Voucher/Coupon Designer – This feature allows you to design your very own coupon for your business. It allows to customise the design elements to your preference to target to your specific audience

Coupon Management System
Figure 7: Coupon Designer

Redemption Manager – Helps you to manage & track your consumer’s coupon usage. Overall view of the coupon code, type, campaign, redeem date, customer details and status.

Coupon Management System
Figure 8: Redemption Manager

Dashboard – Overall summary. You are able to view the number of active vouchers and coupons, number of expiring vouchers and coupons, the number of vouchers and coupons redeemed. View which campaign is the most popular by analyzing their redemption rates.

Coupon Management System
Figure 9: Dashboard

Want to know more about VoucherMatic and how it can help your business grow ? Call us for a free consultation at +65 81189106


[1] Source: https://www.statista.com/statistics/321227/number-digital-coupons-vouchers-redeemed/
[2] Source: https://www.businesswire.com/news/home/20130822005390/en/National-Study-Finds-Retailers-Shopper-Motivation-Loyalty
[3] Source: https://www.sendowl.com/blog/how-much-should-i-discount.html
[4] Source: http://intelligence.valassis.com – 2K18 Valassis Coupon Intelligence Study
[5] Source: https://www.nielsen.com/us/en/insights/news/2015/theyre-thirsty-for-deals-but-millennials-wont-sacrifice-taste-or-quality.html
[6] Source: https://www.retaildive.com/ex/mobilecommercedaily/how-digital-coupons-attract-the-ultra-mobile-millennial-customer
Anita Ee Xinhui
Anita Ee Xinhui

Latest posts by Anita Ee Xinhui (see all)