Coupons have always been a popular way of stretching a budget, and almost 80 percent of consumers use coupons with some regularity. Coupons have long been encouraging brand loyalty, motivating consumers to try new products, and to repeat their purchase habits.
When they were mainly distributed via printed media, the clipping of coupons used to be something of a family weekend activity. Back then, word of mouth was the most powerful way of sharing coupons. In this era of technology, consumers are both finding and sharing offers digitally. It’s the “millennials” (those born between early 1980 to early 2000) that are the most active at sharing deals with one another, and 90 percent of them do so. A massive 45 percent of them share deals through social media and 30 percent of them do so via text.
A coupon campaign’s success is attributed to a number of factors, but the key is for retailers to do their research properly and to implement a strategy that clearly defines their objectives. Gap ran one of the most successful campaigns in history and credited their success to a multi-pronged media approach:
With 62 percent of consumers spending an average of two hours per week searching for deals, and the ability to compare products and prices so easily, brands face increasingly steep competition to lure customers to make online purchases. Consumers seek high-quality products, but will take great steps to find these products at the best possible price.
It’s not just the established brands that see the benefits from coupon marketing campaigns. Seventy-four percent of online coupon users indicated that they would be likely to try a new brand if they received a coupon or promotion code, indicating that they are also a fantastic technique for emerging brands to utilize when launching online.
To find out what consumers want and how they want it, Vouchercloud has compiled an infographic utilizing the latest consumer figures to identify how coupon campaigns are becoming the driving force for digital campaigns.