Shortly after the pandemic caused retail stores around the country to rapidly adapt their business models to address shutdowns and changes in consumer habits, CodeBroker conducted research to explore how shopping behaviors were changing.
The resulting report, Consumer Shopping Habits During the Covid Pandemic, offers insights into what has changed, which changes are likely to persist even after the pandemic subsides, and what retailers can do to protect their bottom line.
A new survey of more than 1,400 U.S. consumers indicates that more than half are shopping less often and three-quarters are spending less at their favorite stores. That’s not surprising. What is surprising is what the research showed regarding opportunities for retailers to compete against the sheer competitive threat Amazon represents, and that includes the positive impact mobile couponing can have not just for online purchases but to drive in-store traffic as well.
Amid ongoing reports of consumer fatigue with coupons and declining coupon redemption rates, there is a ray of hope for retailers—mobile coupons. While consumers have a wide range of preferences in terms of their mobile engagement, CodeBroker’s mobile consumer research, based on input from more than 1,500 consumers around the country, offers one takeaway that applies to the masses: Mobile couponing works. There are a variety of reasons that this is the case.
As the popularity of text message marketing has increased, so have the number of providers offering text message marketing software. What features do you need? What provider should you choose?
With so many product options available, it’s easy to be overwhelmed. On the surface, these options may look alike, but when you take a closer look, you’ll find some key differences.
The United States is one of the largest smartphone markets in the world, with some 96% of people owning a cellphone. Those consumers most likely to own a smartphone fall into the sweet spot of retail marketing demographics—those ages 18-29 (96%) and those ages 30-49 (92%), according to Pew Research. Retailers are realizing that mobile coupon marketing is the best way to get special offers in the hands of consumers.
Retailers that take advantage of the power of mobile marketing when combined with coupons have a new and effective means of driving foot traffic and purchases. Here we offer a look at five mobile coupon marketing strategies.
A savvy marketer can select a solution that enables her to launch personalized promotions that perfectly suit a target customer for a given phase. For example, an offer designed to acquire new customers should differ from the one that goes out with a view to retaining lapsed customers or further engaging the loyal customer. This is where single-use coupons provide immense potential to deliver personalized promotions, allowing marketers to segment their customers into the appropriate marketing phase—acquisition, engagement, or retention.
Dan Slavin: To appeal to all consumers, you must use a mix of mobile channels, such as text, mobile wallet, and apps. Your consumers have a specific preference when it comes to receiving retailer promotional messages. Your mobile marketing strategy must cater to this preference.
Dan Slavin: It’s not just smartphone use that is growing—the number of people totally dependent on these devices to access the internet is rising as well. Both segments are projected to continue to show strong growth. Yet some marketers and retailers are struggling with attracting these users with offers and coupons.
Since many retailers use the same strategies and tactics to capture consumer attention during the holidays, rising above the noise happens only for a few. This may be the season to plan smarter, not louder, and the answer may be the use of mobile coupons.
Imagine a marketing tool that is available to you that nine out of 10 targeted people will read within three seconds. For retailers and marketers to take full advantage of SMS marketing, plans must start with building quality contacts. This is the starting point to build an effective bridge between text and CRM.
When participants in CodeBroker’s 2018 Mobile Coupon Consumer Research Report were asked just how quickly they would likely redeem a coupon they received via text message, 25% said they would use it within three days. That number grew to 60% when they were asked if they would use it within a week.
Mobile coupons create a sense of urgency, helping retailers drive short-term spikes in revenue and presenting marketers with new opportunities to collect data, track usage, and laser target the right customers. But how do you build a successful mobile coupon strategy?
To build a successful loyalty program, make sure that customers can see what points and rewards they’ve earned without making them jump through hoops. Make your system as transparent and frictionless as possible, and try to communicate via each member’s preferred channel.
Consumer goods and retail companies are using omnichannel personalization to engage consumers, and offer them the convenience to browse and buy products however and wherever they choose. With data analytics, retailers can engage in automated omnichannel personalization to deliver marketing that aligns with a customer’s specific behaviors.
The report focuses on several trends that should be of interest to retail marketers and their mobile marketing strategies. For starters, there is less differentiation between products, brands, and retailers. These days, products evolve into brands, brands become retailers, and retailers become products.
As retailers continue to reimagine marketing to consumers using mobile, the tools to do so will evolve as well. Similar to marketing automation for B2B, retailer-focused solutions providers are enriching their platforms so that retailers can deliver marketing messages and offers to highly segmented consumers.