When most people think about coupons, they picture their grandparents clipping them out of the Sunday newspaper. The fact is, however, that coupons remain one of the most popular and effective marketing techniques for a wide range of different products. Digital coupons are extremely popular, and much loved by their users.
Mobile and online coupon redemption value is expected to raise to $91 billion within the next five years, which is an annual growth rate of 14% from its current level of $47 billion. This is a lot of savings for consumers, but also a lot of new customers and purchases for brands.
One of the many things that is going to drive this growth is the use of advanced ‘chat bots’ that will be distributing coupons. App-based chat bots can provide users with customized coupons based on their activity, location, browsing habits, and much more. Using the advanced AI options, consumers will get a better experience than ever, and marketers will be able to target consumers much more accurately.
While coupons aren’t a good marketing solution for every industry, those who can benefit from them should absolutely be using them as part of their overall strategy.