For years, paper-based manufacturer’s coupons have been the standard way to distribute offers. However, paper-based coupons present their own challenges. They are inefficient and redemptions can take up to 8 weeks to be reconciled from clearinghouses, which prevents brands from making quick and decisive decisions on promotional strategies. 90% of coupon fraud occurs via photocopying and over-redemption, allowing a small group of consumers to hoard promotional budgets that were meant for the masses. Additionally, with purchase data shifting more and more towards ecommerce, especially within the last year, paper-based coupons offer limited options to fully understand and collect actionable consumer insights.
These imperfections with paper-based coupons led to the creation of the Universal Mobile Coupon™ (UMC); a solution the industry has craved for years. Designed to assist CPG brands and retailers with the transition towards a more mobile-friendly and digital consumer experience, UMC allows brands to focus on three main areas:
Receive one to one campaign attribution insights which enhance consumer intelligence, campaign optimization and individual personalization at scale
One of the biggest advantages of the UMC is that brands can further enhance their consumer insights with redemption data tied directly to the individual click in real-time – 98% faster than compared to manufacturer’s coupons.
By understanding your consumer at a deeper level, campaigns can be optimized to ensure audiences are receiving the offer that is right for them. This level of granularity (city, state, store ID, name of retailer and more) provides the opportunity to enhance segmentation and personalization in future promotional efforts. UMC also allows brands to connect engagement to their existing marketing stack, such as attributing paid media campaigns to in-store sales, combining layers of purchase data that can be used to evaluate and enhance campaign ROI.
Intimate, but non-intrusive relationship building with consumers is the way to keep customers satisfied. This is important because 81% of satisfied customers are more likely to do business with a brand again if they’ve had a positive experience and we know repeat purchases lead to customer loyalty.
Eliminate fraud with a digital coupon that cannot be copied, fabricated, or re-used
A major downfall of paper-based coupons is how susceptible they are to fraud. Although security measures can be taken to prevent unwanted consumers from accessing offers initially, once a consumer has an offer in hand, photocopying is almost impossible to prevent. The RevTrax UMC prevents fraud in a myriad of ways starting with a fully digital format, which eliminates photocopy fraud.
Secondly, all barcodes are single-use, so once they are used at any retailer’s POS they are marked as redeemed and cannot be used again. These barcodes are usable at any participating retailer and validate down to the individual product level, ensuring that purchase data is collected and functionality of the coupon is disabled after.
Finally, UMC can be paired with RevTrax’s patented security suite throughout the online consumer journey prior to redemption. This suite comes standard with any offer and has helped prevent over $81 million in fraud for our clients since 2018.
Deliver a seamless, contactless mobile coupon experience accepted across retailers
In a world that now encourages mobile and contactless purchase experiences more than ever before, the UMC digitally transforms the way CPG and manufacturer offers are used and accepted. Retailers once stood in the way of fully digital offers, however, with several major chains already on board and more joining throughout 2021, consumers will no longer have to seek out specific locations to redeem offers.
This enables brands to also support in-store promotions and other executions. Delivering a fraud-proof offer directly to a consumer in-store allows for a condensed purchase journey, without compromising ease of use. And to further ensure a seamless experience, the RevTrax Universal Mobile Coupon™ can work at any retailer within our network of participating retail locations without the hassle of multiple retailer-specific barcodes.
As consumers become more comfortable returning to physical stores to shop, contactless payment methods will continue to increase in popularity. According to Paysafe, 54% of consumers say that using contactless payments more often during COVID-19 means they are comfortable with using this method in the future and 53% of consumers say they are more comfortable with the idea of a contactless society. With trends continuing to shift this way, promoting a safer way to save is a way to keep up with changing consumer preferences.
We aim to be the digital standard for delivering CPG offers in the years to come. Collect transaction-level data, eliminate fraud and enable a seamless and contactless consumer experience with the RevTrax UMC.
Interested in learning more? We would love to help with you with your promotional marketing needs. Learn more about the RevTrax UMC by speaking with a specialist today.