Several experts within the coupon industry met to explain how The Universal Mobile Offer is the next big thing for brands, consumers and retailers when it comes to digitizing promotions.
2020 was the catalyst for the final push towards the solution the coupon industry has craved for years: The Universal Mobile Offer. With this new technology in its early stages, we gathered some of the brightest minds in the industry to discuss the top ways universal mobile offers will revolutionize a promotional tool that has been stagnant for some time.
Meet Our Speakers
- Brandi Johnson, CEO, The Coupon Bureau
- Michael Loyson, Brand Director - Value Delivery/Couponing, Procter & Gamble
- Mary Oster, Retailer Co-Chair, Joint Industry Coupon Council
- Seth Sarelson, Co-founder & Head of Product, RevTrax
- Jonathan Treiber, CEO & Co-Founder, RevTrax (Moderator)
We’ll highlight some of the bigger discussion points below. You can watch the event in its entirety here.
1:1 attribution can now be obtained through true omni-channel strategies
Omni-channel strategies have existed for quite a while within the marketing realm. However, there is a difference between simply reaching consumers through several channels and actually ensuring the consumer journey can be completed throughout. Brandi Johnson, CEO of The Coupon Bureau said, “As marketers, we’ve been saying for years we’re omni-channel and we’re going to find them where they are. We’re finding them where they are, but we couldn’t do anything with them once we found them.” Where marketers previously led the consumer through digital channels and pushed them towards a non-digital, printed offer or coupon, they can now complete their omni-channel strategy entirely online.
However, the benefits of universal mobile offers don’t just apply to consumers. “When we're able to give brands and marketers a tool now that not only drives awareness but ultimately can drive trial and conversion and do it smartly across a range of smart audiences, that just invites more dollars, demand creation and will ultimately allow us to do our jobs and grow categories together," added Michael Loyson, Brand Director at Procter & Gamble. Universal Mobile Offers provide 1:1 consumer attribution for every engagement taken, allowing brands to better understand their consumers, adjust their strategies and experience higher campaign ROIs by delivering offers to consumers within their preferred channels.
Paper coupons aren't going anywhere...yet
As universal mobile offers and coupons are a new format, it will naturally take a bit of time for the industry, as well as consumers, to adjust. Loyson stated, “I would rather we, the manufacturers and the retailers, focus on what’s best for the shopper. I have no doubt that there are categories out there where shoppers will prefer paper coupons for some reason…but we do know that a majority of our shoppers do want digital coupons, so I ultimately think it’s about what’s best for them.”
With adoption in it’s early stages and a notoriously slow-moving industry, paper is still king and will never disappear completely. The ultimate goal is still to move offers and coupons to digital formats for several reasons, including security and attribution. This has led to discussions about bringing the same barcode technology to paper coupons in the meantime. “We’ve all been in this industry for 10+ years…we’ve all been saying print is going away, it’s not…so how do we take the same new process with all the benefits of security and attribution and move them over to a paper world,” mentioned Johnson.
For the short term, brands have the luxury of investing in universal digital offers and coupons as they are the future but can also benefit from a slow and steady transition. Training consumers on the new format and ensuring they are educated throughout the process will only lead to enhanced purchase journeys for consumers. Additionally, brands will enjoy the benefits of delivering more secure and individually attributable offers to their audiences.
Advancing the adoption of digital coupons and offers is going to take a village, but the villagers are on board
With anything new, various stakeholders are going to have their opinions and timetables for adoption. Consumers and Brands have already voiced their opinions that they want mobile offers and coupons that can be used across retailers, similarly to how paper manufacturer’s coupons work today. The remaining group, retailers, is where adoption will need to grow. But what can be done to help?
Mary Oster, Retailer Co-Chair of the Joint Industry Coupon Council recommended, “Reach out to the [Coupon] Bureau and if you’re a retailer, reach out to your manufacturer partners and if you’re a manufacturer talk to your retailer partners, find out where everyone is in this journey and come up with a timeline.” Communication is going to be key as brands and retailers navigate these uncharted waters, but luckily, help is only an email or phone call away. “Who are your top 5 trading partners, go to the customer team lead, I want those retailers to accept The Coupon Bureau. Brandi will get on that call, I will get on that call, other folks will get on that call. We’re here to help,” proclaimed Seth Sarelson, Co-Founder & Head of Product at RevTrax.
The solution the CPG industry has craved is finally here. “We made you the pink unicorn. Spread the love…the more retailers we get connected the broader your programs can be,” Johnson said. The tech has been created, the ecosystem has been set up and brands and retailers are already taking advantage of universal mobile offers and coupons. The final step in advancing the adoption of this new format is to get the remaining retailers on board. It’s going to take a village, but so far, the villagers are showing it can be done.
This was just a taste of some of the main topics discussed in this event. You can find the full video by clicking the button below and as always, stay tuned for more events in the future.
Interested in learning more? Contact us today to learn about how the Universal Mobile Offer and other RevTrax solutions can help you reach your business goals.