Monthly Archives - November 2013

digital mobile coupon

The Digital Mobile Coupon

Digital Coupons: Audience and Redemption Growing Rapidly

digital mobile coupon

“People engaging in digital offers is predicted to reach ~51 million next year, and with 10% redemption rates (paper coupons are 1%), marketers are actively deploying digital offers as a way to monetize mobile as the mobile industry continues to explode,” said TJ Person, CEO of Koupon Media.

Numerous benefits exist with digital coupons and as a result they  are quickly gaining acceptance, resulting in rapid redemption rates. Here are some of the advantages to using digital coupons and benefits to both businesses and consumers:

digital mobile coupon shoppingBenefits and Advantages for Digital Mobile Coupon Usage

  • Research conducted in October 2013 by eMarketer indicates that more than half of US adult internet users (102.5 million people) will redeem a digital coupon, for either online or offline shopping this year.
  • That number is up 11% over last year and the number of people redeeming is expected to keep increasing with the primary area of growth being the new mobile coupon user.
  • Digital coupons are a great way to engage the new user because you can provide a direct link to your products or services via the coupon.
  • Digital coupons not only afford your business more visibility, but they can also help the conversions on your website and/or increase traffic to your store.

 

Mobile is Key

The digital coupon has been around for years, but didn’t really take off until mobile devices became more commonplace. Mobile plays a significant part in digital couponing.

– This year, more than 28% of people who own a mobile device have redeemed a coupon and according to eMarketer, it is expected that one-third of all smartphone users ages 18 and up (42.1 million people) will use a coupon acquired on a mobile device –via an app, mobile internet, mobile barcode or SMS.

– The US smartphone coupon user base is up 40.9% this year, following 60.6% growth in 2012.

– The digital coupon is no longer about the price-conscious consumer. The recent recession and rapid adoption of the smartphone, have helped push digital coupons to a more diverse and mainstream market.

– The number of people who redeem digital coupons is only expected to grow as consumers ditch their paper coupons for the convenience of digital.

Catalyst

What’s fueling this growth? There are several key factors involved:

– For one as aforementioned, the increase in new smartphone users. The number of people who use iPhones, iPads and Android devices continues to grow at a phenomenal rate and is not expected to slow down any time soon.

– Another growth driver is the increasing popularity of new mobile apps and local deals from sites like Amazon Local and Groupon that feature discounted gift certificates to use at participating businesses locally and nationally.

– Lastly, and probably most notable is the growth coming from the integration of couponing into social networks.

Nowadays, businesses are using Facebook, Twitter and other social network sites to help their coupon offers go viral, giving marketers excellent opportunities to promote their products and sell digital coupons offering benefits such as discounts or free trials. They can give away the coupons to increase engagement and ROI.

This exposure for the products or services that you offer gives you the opportunity to capture the attention of a large audience of potential customers. Often times, advertising fails simply because people do not take the trouble to actively see or read the advertisement. Offering digital coupons is a way of putting the offer directly into the customer’s hands, customized by their interests, while also achieving your business objectives. The integration of digital coupons is sure way to arouse interest with your target audience.

How It Works: Redeeming Digital Coupons

The process is convenient and eco-friendly! You don’t need to print a coupon out on your computer to bring into a store for redemption. Instead, digital coupons and offers can be redeemed right from your mobile device. An increasing number of consumers are using smartphones to access and redeem coupons both online and in person. They are finding deals through a variety of channels, which include mobile apps and mobile browsers, social networks, email, SMS, barcode scanning, and push notifications.

digital mobile coupon

The best digital coupon applications out there are Apple’s Passbook® (available on iOS operating system iOS 6 and up) and Android’s version of the same app called PassWallet. These apps come standard on all smartphones running on these operating systems, meaning the app is already pre-loaded on from the date of purchase. According to ABI Research, that is equivalent to being active in over a billion smartphones worldwide! These apps are unique as they allows users to store multiple items such as digital coupons, boarding passes, movie and event tickets, retail store cards, gift cards, loyalty cards and other forms of mobile payment. They are all categorized and easy to use. All you need to do is scan a barcode from your smartphone or tablet to check in for a flight, enter a movie, use a gift card, redeem a digital coupon, and more. It’s that simple.

Another very innovative feature, that uses location notifications, can be implemented to target a who has your business’ digital coupon or offer stored in his/her Passbook and is nearby your location. Basically, their smartphone will vibrate or sound to notify them, passing along a gentle reminder that “hey, you have a deal near you.” Similarly, when your boarding pass is loaded in Passbook, and a flight is getting nearer, you will get a reminder notification when it’s nearing the time to board your flight.

For those with mobile devices not running iOS or Android, there is a solution. There’s a new mobile marketing platform available that allows you to create and send Passbook passes to phones that do not support Passbook or PassWallet app. This platform immediately detects if the mobile operating system supports Passbook and modifies accordingly, prompting user to download to view the pass in an HTML version on the landing page. The only feature lacking from this HTML version is the ability to provide location notifications.

Digital coupons are convenient, discreet, enable positive customer experiences, and are eco-friendly! Make them a part of your mobile and digital marketing strategy to give your business more exposure and help capture the attention of an expanded group of potential customers.

Statistical Source: eMarketer, Oct. 2013

hispanic market, spanish-speaking, mobile marketing

Hispanics and the Mobile Marketplace

Hispanics: A Very Tech-Forward Consumer

hispanic market, spanish-speaking, mobile marketing

U.S. Hispanics, a community of 53 million and making up 17% of all Americans, are rapidly becoming a big part of today’s mobile marketplace. This is mainly because Hispanics are less likely to own a home computer than the average American. They instead over-index on using mobile as their gateway to the web.  According to the Zpryme 2012 Hispanic Mobile Consumer Trends Study:

– Nearly 1 out of 4 (24.2%) Hispanics own 20 or more mobile apps

– Will spend over a half-billion dollars on mobile apps this year

“Hispanics are not only powering the growth of the mobile device and entertainment industries, they are shaping it. From the purchase of a new Apple iPad to chatting with friends on Facebook, advertisers must understand how to carve brands to be more culturally relevant to the Hispanic mobile consumer”, explained Jason S. Rodriguez, Zpryme CEO and Director of Research.

Digital savvy Hispanics are clearly demonstrating noteworthy metrics over non-Hispanics in the digital space:hispanic woman, hispanics, hispanic mobile market, spanish speaking

– The vast majority (72%) own at least one mobile device, according to a recent Nielsen Mobile Media Marketplace study.

– These early-adopters are also 24% more likely than non-Hispanics to buy a new smartphone.

– Hispanics are 8% more likely to be the first to purchase tablets. One speculation is that this may stem from the fact that Hispanics are 10 years younger than  the rest of the U.S. population with 77% under the age of 45 vs. 57% of non-Hispanics.

– U.S. Hispanics also spend significant amounts of time on their mobile devices in order to connect with family and friends here and in home countries.

– According to the Zpryme 2012 Study, “Hispanics will increasingly influence mobile technology markets in the U.S., and by 2017 Zpryme predicts that one out of every five tablets and smartphones in the U.S. will be purchased by Hispanics.”

When reaching out to this segment with marketing and advertising efforts, the messaging and content must remain culturally relevant to be effective. Simply repurposing elements originally meant to be consumed by a non-Hispanic, just does not work for this audience. It is worthy to note that Spanish is, by far, the most spoken non-English language in the U.S. with about 72% or 38 million people ages 5 and older, choosing to speak Spanish at home, according to this market research study.  It is essential for marketers to understand that language is a powerful tool, connecting this valued consumer to their community, culture and country of origin. Hispanics, even those who are bilingual, will often choose to consume Spanish-language media for content they can’t find anywhere else, including news, cultural content, sports and music.

So here is a group that is digitally savvy, young, open to new brand opportunities and socially connected. Furthermore, they are a demographic that clearly adopts technology products at a faster rate than the general market. According to the Selig Center for Economic Growth, the U.S. Hispanic market’s purchasing power is at $1.2 trillion, “larger than the entire economies of all but 13 countries in the world.” This massive demographic is a marketer’s dream and worth too much to ignore. Hispanics are positioned to drive a significant share of the demand for mobile technology in the U.S.  Companies without a targeted Hispanic mobile strategy will very likely miss out on the most digitally engaged U.S. demographic.  It is time to get on board with this emerging market segment!

advertising and marketing

Advertising and Marketing: What’s the Difference?

Understanding the fundamentals of advertising and marketing

advertising and marketing

People often get advertising and marketing confused.

The fact is that there is a huge difference between the two terms.

Marketing is the process by which products and services are introduced to the marketplace. Whereas, advertising is the description or presentation of a product, idea, or organization, in order to induce individuals to buy, support, or approve of it. Marketing is the sum of all activities that you perform to get the word out about your business and attract the customers you want. Advertising is essentially spreading the word about what your company has to offer. Advertising is a component, or subset, of marketing.

advertising and marketing processMarketing takes time. It involves understanding who your potential customers are and what they want to get from your product or service. Think of marketing as everything that an organization does to facilitate an exchange between company and consumer. An effective marketing strategy involves use of color, logos, and how your products and services are sold. A marketing strategy creates the perception that you want people to have of your business. Is your company forward thinking, a fun company or a large stable business? It’s marketing that defines your brand and attracts the market share you want.

Advertising is getting the word out about your business, your products and services. It can involve several strategies including newspaper, radio and television ads. On the internet it can include banner ads, posting classifieds, etc.

To market your product or service, fundamentally you must:

– Study your target audience

– Identify their values and needs

If you’re trying to appeal to a quality-conscious demographic, you’d probably want to develop a campaign that showcases your brand as being high end. If you’re reaching out to a younger or more forward-demographic, develop an edgier approach to present the image of your product.

Once your marketing strategy has identified your target audience, you can now focus your advertising dollars on the specific types of media used by that audience to increase your likelihood of successfully acquiring new customers. Print, television, radio and the Internet are common venues that can communicate your brand to potential customers. Social media is also a powerful component of marketing, branding, as well as advertising efforts; proper use of Twitter, Facebook and Google+ (and others) can help spread the word about what it is you have to offer.

In the end, marketing and advertising campaigns are most effective when they are fully integrated.