According to a 2014 study by Forrester, brands and retailers are still using coupons despite being rather ambivalent about them because, simply put, they just work.
One question in the survey asked participants, “How do you typically find digital coupons, offers or online promotion codes on your computer/tablet?” Email from retailers was far and away the top response, with 71 percent of computer users and 59 percent of tablet users saying it is their primary means of accessing digital coupons. More than half of respondents also said they get coupons from search engines, with other big vote-getters including emails sent from deal sites, retailer websites and coupon websites.
Even though there is still a relatively small percentage of coupons that are actually delivered digitally, they still have a significant effect on the way people spend money. Some other important findings from the survey include:
Approximately 96 percent of all mobile users are expected to search the web for a digital coupon this year in hopes of getting the best value for their purchase. This represents a significant increase from 2014, when that figure was just over 70 percent.
- 68 percent of respondents say digital coupons reflect positively on the retailer’s brand, with the same percentage also saying they will be more loyal to a company that issues digital coupons.
- 47 percent of respondents say they are open to trying out new companies if they get offers sent to them via smartphone.
- Coupons sent to mobile devices encourage quick action from customers, with more than 90 percent of smartphone and tablet users saying they redeem digital coupons within just a few days of receiving them.
- 55 percent of people who use smartphone coupons will actually spend more money during their visit to the store or website, with many at least $25 more.
- Respondents chose from 12 choices about how they discovered coupons on their smartphones and tablets, with the top responses being email, apps, push notifications and mobile search.
- Overall, respondents agreed that coupons are still the most effective type of retail promotion.
Restaurants that are looking to employ coupon strategies can look to the results of this survey as more evidence that coupons help to drive greater customer loyalty, encourage immediate action and can actually lead to even more spending.
For more information about how you can work with That’s Biz to develop a coupon strategy that fits your restaurant, contact our team today.