In today’s modern era of consumer marketing, it’s all about the offers. There’s an incredible amount of competition in nearly every consumer industry, and for many business owners, the only way to confidently break through this noise is to deliver incentive offers directly into the hands of consumers. A recent industry study from CodeBroker uncovered some interesting insights on the offer preferences of consumers, which can help business leaders better position and optimize offer campaigns.
One overarching theme of the study, and of modern retail thought leadership in general, is that we are now in the mobile-first era of consumer engagement. According to the CodeBroker study, almost half of all consumers prefer receiving and using mobile offers versus paper offers, and those same consumers want to store and redeem those offers directly on their smartphones. Whether you’re a restaurant chain, a retailer, or a specialty services company, it’s all about optimizing the customer experience for mobile. To truly understand and optimize these offers, however, your team must have the resources and tools in place to make confident, strategic decisions.
How can your team optimize offers to better engage with customers?
With industry data available from thought leadership pieces like the CodeBroker study and innovative technological advancement from consumer marketing companies such as Mobivity, retailers, restaurants, and personal care brands can start to optimize the level engagement possible through offers. Here are some creative ways to get started with customer-focused offer solutions:
- Double-down on text offers: Based on the CodeBroker study, consumers not only prefer mobile offers, they prefer offers delivered via text message. Nearly 60% of consumers say they are likely to use a text offer within one week of receiving it. The average consumer checks their phone every few minutes, and targeted, personalized text messages are the best way to take advantage of this untapped opportunity. Working with a dedicated communication platform such as Mobivity Reach can help your team deliver SMS messages with personalized offers based on your customers previous buying habits. SMS offers also help drive urgency and increase repeat customer visits.
- Make offer decisions based on consumer data: According to the CodeBroker study, single-use offers with a higher discount are used more than low-value offers that can be used more than once. Test out different offers with your customers and see which have the best conversion rate. Gathering transactional details from your POS system through a solution such as Mobivity Recapture can also help influence the type of offers and marketing campaigns your team runs. With this data, your team can see how your actual customers are engaging with your offers and campaigns to make better long-term marketing decisions.
- Start sharing offers with customers instantly: As soon as a customer gives you their contact information, or signs up for your mailing list, it’s time to start sharing offers. According to the CodeBroker study, 68% of consumers are more likely to join a mailing list or share contact information if they know they’ll receive an instant offer in return. Starting off on a good foot with new customers can drive brand loyalty down the road as well as increase revenue in the short term. Think about receipts, for example. These are a necessary part of every transaction, so why not take advantage of receipts as a marketing opportunity? Your team can deliver digital, mobile-optimized receipts with personalized offers via Mobivity re•ceipt, which leverages POS data gathered through Recapture to target offers directly to customers based on their purchase history.
- Optimize and customize offers: As in life, the adage is true that no two customers are the same. While some customers might respond to an online ad (around 23% of consumers, according to CodeBroker) others might be more inclined to respond to an in-store offer (this appeals to a whopping 57% of consumers, according to the CodeBroker study). With the Mobivity Recurrency suite of solutions, your team can not only break down how your customers are responding to your offers, you can also modify and update marketing campaigns to better attract new audiences. If you realize that most of your offer redemptions are coming from social media ads, then your team can quickly mobilize new social ads and offers specifically designed to increase customer frequency and profits.