As more brands continue to leverage coupons in their marketing campaigns, investigating their effectiveness is always of value.
Experian Marketing Services recently investigated how marketers implemented coupons and codes in their email campaigns and the way consumers are engaged with them.
According to the study, marketers that included coupons or offers saw better conversions than those that did not.
Of the different types of coupons and offer codes, those that are redeemable in-store were the most frequent redemption type offered, as 80 percent of the coupons reviewed were able to be redeemed in-store, while 70 percent were able to be redeemed online.
To see the role coupons play in driving higher click rates, Experian analyzed the total clicks received on coupon links within each mailing in the study (coupon clicks/total clicks per mailing). Fifty-eight percent of the clicks for mailings with in-store-only coupons came from the coupon link. Coupons contribute to transactions as well. In emails with online only offer codes, 46 percent of transactions were generated via coupon links.
Couponing campaigns produce higher user engagement. It is, therefore, easy to understand why coupons are being offered more frequently by marketers. A summary of the study included the following findings:
- Coupons outperformed other promotional mailings on open, click, and transaction rates, as well as revenue per email.
- Coupons provide a means of offering cross channel promotions, and allow customers to choose the venue for their transactions.
- Recognizing email coupons on mobile devices, as well as in print, further customizes the purchase experience for the consumer.
- While the best coupon offers will vary by brand and product, coupons do not have to provide deep discounts in order to perform well. Offers as low as $5 off have had high transaction rates and it is worthwhile to test coupon price points to optimize campaign revenue