The latest trend in advertising and promotions can win friends and influence people.
Mobile coupons, as they’re called, usually include a code customers can use to receive discounts or other perks. In addition to the obvious benefits of using this type of technology, it also allows companies to capitalize on
last-second specials or limited-time offers without the cost of advertising.
Major retailers like K-Mart, Toys R Us and Zales (among others) are already using mobile coupons to boost revenues. In fact, during the first half of 2009, nearly 10 million digital coupons were redeemed, a 25% jump over the amount redeemed during the same six-month period in 2008, according to Inmar, a coupon-processing company.
Aggregate sites like 8coupons, Cellfire and Zavers, allow users to register and receive text coupons from several different companies based on their own specific needs. Cellfire claims its redemption rate for mobile coupons is currently between 15 and 20%, while redemption rates for paper coupons are generally less than 1%.
All of which begs the question: Are mobile coupons the wave of the future? And if so, how can your company use them to boost revenues? Share your thoughts in the comments section below.