How fast do consumers who receive mobile coupons use them? Amazingly, about 65 percent of recipients redeemed them within 5 minutes of seeing them.
Of course, the targeting was good — an essential ingredient in enticing customers to act.
“In the case of convenience store coupons, the evening commuter period were found to be the most responsive time for mobile coupons,” according to Biz Report. “This finding highlights the importance of targeting coupons at the right time, and when the target audiences are in the right place.”
The info comes from Koupon Media’s new “State of the Mobile Coupon Industry” report. The report analyzes the growing use of mobile coupons, with special emphasis on redemption patterns for convenience stores.
In 2015, Koupon Media’s platform doubled in size reaching a lifetime 500 million mobile coupons delivered.
“Furthermore, average redemption rates continue to be 10x greater than traditional paper coupons,” reports the company. “The number of mobile coupon users in the U.S. continues to rise — from 61 million in 2013 to 104 million last year.”
Mobile coupons just may push out paper coupon clipping the way online media has affected print newspapers.
“The fact is mobile coupons are easier to use than paper or print-at-home coupons and more retailers accept them than ever before,” says Bill Ogle, CEO of Koupon Media. “It won’t be long before the mobile coupon outpaces paper coupons altogether.”
Consumers spend more and are more apt to adopt new technologies when offered a mobile coupon, contends Koupon Media
“Overall, 43 percent of mobile users have used a mobile coupon and 26 percent increase their basket size when using one. A personalized coupon motivates 39 percent to spend more and 60 percent would adopt mobile payments if offered coupons,” according to the report.
And what do those lickety-split mobile coupon users buy at the convenience store?
Koupon Media’s data shows it’s energy drinks (43 percent), soda (17 percent) and juice (15 percent). Free offers elicited — naturally — the highest redemption rate (15 percent).
The post Mobile Coupons Lead to Lickety-Split Action: 65 Percent Redeem Them in 5 Minutes appeared first on Mobile Marketing Watch.