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Amazing fact: 24.3% of mobile phone users in the United States are expected to engage in mobile couponing this year. This is an impressive jump from the 6% that used mobile phone couponing in 2012, according to a recent study from eMarketer. And redemption rates for mobile coupons can be as high as 89% for first-time consumers receiving a mobile coupon from a brand, while ongoing redemption rates steady around 25-40%, cited by Mobile Commerce Daily. But what do these numbers mean to marketers who just haven’t kept up with the changing promotional technology? Timing is everything. According to mobiThinking, more mobile subscriptions exist in the U.S. than people, and 81% of the population has a 3G or 4G mobile plan, ensuring fast and easy access to the Internet and their mobile apps. While there’s never been a better time to deliver the right deal to the right consumer, the question remains: how? A lot of industry talk is focused on geo-location services, but it’s key for marketers to remember location is only one piece of the puzzle. As Patrick Moorhead, VP for mobile for Catalina Marketing recently told Mobile Marketing Watch, “Geo-location is a great opportunity, but it’s really just a component of personalization.”
For marketers, the lesson is clear, and the timing couldn’t be better for launching mobile phone promotions.