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Mobile Coupons New Marketing Mantra For The Modern Retailer

Mobile Coupons New Marketing Mantra For The Modern Retailer

Shopping attitude of the Indian consumer has registered a paradigm shift from need based to discretionary spending

. Much of this development can be attributed to a rising middle class, urbanization, retail boom in Tier II and Tier III cities, changing demographics and easy availability of credit. This buoyancy in the Retail Sector is being countered by the complex dynamics of the Indian market. Advent of global brands, varying purchase power, increasing value consciousness amongst the Indian consumer, etc. are all factors adding to the complexity of the retail revolution in India.

Some of the pertinent questions facing modern retailers include:

How to increase sales and expand my market share?

How do I increase awareness about my products?

How do I tackle overstocked inventory?

How to instill consumer confidence in my brand?

How can I invoke repeat purchase out of my existing customers?

What is a cost-effective way to drive traffic to my stores?

Adaptability with the changing times is the only solution to all the above mentioned issues facing the retail sector today. Mobile device in the hands of an increased number of consumers presents a unique opportunity for Retailers to Acquire | Reward | Engage their customers like never before. Mobile advertising is undoubtedly a potent tool in the hands of marketers who are striving to forge that everlasting connect with their customers.

Use of Mobile Coupons is now emerging as a new Marketing Mantra for the modern retailer. Global redemption values for mobile coupons have gone up and are projected to cross the $43 billion mark by 2016, as per a recent report by Juniper Research, a leading analyst firm in the wireless sector.

Disseminating random generic offers as a loyalty program strategy is slowly fading into oblivion. Consumers have become much more value conscious. They are no longer attracted by the scissor-paper format of couponing and are more inclined towards offers sent directly to their mobile devices. Mobile coupons are increasingly being used as a call to action and advertising tool. Ensuring Relevancy through a mobile loyalty program holds the key to drive forward the sales agenda and making brand evangelists out of your customers.

An effective mobile driven customer loyalty program delivers the following benefits:

Environmental benefits: As an organization, eliminating paper based coupons is a great way to make a meaningful contribution towards the environment.

Reduced overheads: Printing, maintaining and distributing physical offer coupons definitely adds to the overheads vis--vis a mobile coupon.

Precision marketing: Mobile coupons can help a retailer in precision marketing. Consumer clusters can be identified and tailored mobile coupon campaigns can be run to get higher conversion rates.

Fraud prevention: Each mobile device is a unique identity associated with customers thereby eliminating the possibility of any fraudulent practices. Offers are sent directly to the mobile device of the customer registered under the loyalty program.

Invaluable insights: Tracking mobile coupon redemptions can help deliver invaluable insights to a retailer. Campaign effectiveness can be tracked and tailored to deliver better results.

Conclusion

Every retail business must leverage the unlimited potential of mobile CRM solutions. Issuance of mobile coupons is a great marketing tool to advertise, instigate brand allegiance, acquire/engage customers and leave an impact on target markets. Use mobile coupons to generate constant consumer interest around your brand offerings. Start today.

by: Mloyal
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Mobile Coupons New Marketing Mantra For The Modern Retailer