When RevTrax, in conjunction with the Coupon Bureau, released the Universal Mobile Offer, it represented a tide shift in the world of digital couponing. The Universal Mobile Offer is a solution CPG brands have been looking for for decades as a way to solve for the frauds, inefficiencies, and lack of attribution associated with paper coupons.
Recently, a group of industry experts including Brandi Johnson, CEO of The Coupon Bureau, Michael Loyson, brand director of Procter & Gamble, Mary Oster, retailer co-chair of the Coupon Council, Seth Sarelson, co-founded and head of Product for RevTrax, and Jonathan Treiber, CEO and co-founder of RevTrax, sat down to discuss the ins and outs of the Universal Mobile Offer, and the impact it will have on CPG brands as well as retailers.
During this in-depth discussion, the group dispelled a number of myths and misconceptions surrounding the Universal Mobile Offer. Let’s break down five of those myths:
Myth #1: Digital Coupons Will Completely Replace Paper Coupons
Though the end to paper coupons has been something of a looming threat for decades now, the truth is, there will always be a place for paper coupons even after digital coupons like the Universal Mobile Offer become widely adopted. As long as there is still a customer demand for them, they will persist.
What digital couponing offers is a better way forward for paper couponing, bringing some of the same features that make digital offers a more sophisticated way of couponing, but applying them to a paper format. These features include fraud prevention and attribution, which are essential changes that can impact billions of dollars in lost revenue for brands and retailers. Though the volume of paper couponing may decline over time, they will never fully go away; and the ones that persist will be more effective for the brands issuing them.
Watch the clip below:
Myth #2: The Universal Mobile Offer Will Impact Retailer Loyalty ProgramsSome retailers have been reticent to adopting digital couponing in conjunction with their brand partners because they feel like it may impact current promotions strategies, including their own loyalty programs. Digital couponing and the Universal Mobile Offer exist apart from those loyalty programs, however. The main function of digital couponing is bringing outmoded paper coupons into the 21st Century by enabling attribution for more advanced tracking and targeting, and eliminating coupon fraud. Loyalty programs exist in another silo entirely; it’s in nobody’s interest for digital couponing to affect current, successful retail promotions strategies.
See the discussion:
Myth #3: The Universal Mobile Offer Isn’t Ready for Wide Adoption
Another question surrounding digital coupons and offers is if they’re ready for prime time, or if they’ve seen large-scale adoption. While we’re still in the early launch phases, the success that has been seen with the Universal Mobile Offer has been incredibly encouraging. The Universal Mobile Offer was first launched at a single proof-of-concept store in Minnesota in November of 2020, and showed no signs of error in execution. The Universal Mobile Offer was then expanded across more than 140 locations of Lowe’s Markets in Texas. With thousands of other retailers from mid-sized regional to national chains in the pipeline for adopting the Universal Mobile Offer, it’s safe to say it’s ready for wide adoption.
Watch the commentary:
Myth #4: Digital Coupons Are Not the Way of the Future
Because digital couponing and the Universal Mobile Offer are a new, game-changing technology, it can be easy to write them off as some kind of fad. But the truth is, the technology underpinning digital coupons, namely the barcode shift in how coupons are processed, is going to change. It’s estimated that the 8110 barcode—the barcode that current paper coupons operate under—could be phased out in as little as five years. Digital couponing is the way of the future, and the faster brands and retailers adopt and adapt to the new technology and format the more sophisticated the industry will be as a whole.
View the clip here:
Myth #5: Accepting Digital Coupons is Difficult to Institute
There are a number of barriers that can hold retailers back when it comes to instituting change, particularly for those retailers with limited resources and smaller teams. As a result of this lack of resources, changing systems to accommodate for new technologies like digital couponing and the Universal Mobile Offer can be seen as a heavy lift.
Because the transition to digital couponing and the Universal Mobile Offer is such a net positive for brands and retailers, however, there are a number of trusted partners including RevTrax and The Coupon Bureau’s accelerator program that are here to help shoulder the burden of that transition. Even better, the resources retailers need to make this transition comes at no cost to them, and can be completed in as little as four weeks. The partners involved in instituting the Universal Mobile Offer have a drive to see this process succeed, and are here to help retailers in any way to make it happen.
Watch the commentary here:
As RevTrax CEO Jonathan Treiber said in the webinar, “It takes three to tango” when it comes to the Universal Mobile Offer and digital couponing. Brands are largely on board, and it’s a service that consumers want; building the infrastructure to get retailers in the game is a process, but it’s a process that will benefit everyone once it’s completed.
The important thing to remember is that nobody is in this alone. The RevTrax team, and our partners, are here to help brands and retailers every step of the way as we move towards a digital coupon future. Get in touch with the RevTrax team today to discuss how the Universal Mobile Offer can transform your business today.