Online coupon strategies represent a significant component of marketing efforts for most consumer-facing brands. As these brands adopt a new-found focus on the omni-channel consumer experience, it’s now necessary to measure the real effectiveness of online coupons. Tracking, measuring, and optimizing digital offers, especially when driving digital engagement in store, requires technology that provides intelligence to gain visibility into your consumer’s path to purchase.
Are you missing out on this critical piece of an online coupon strategy?
The Common Challenges of a Coupon Strategy
Let’s start with the breakdown of the typical lifecycle of an online coupon. From 10,000 feet, it looks simple. Brands create offers, deploy those offers via numerous physical and digital marketing channels, wait until the expiration dates of those offers and measure the total quantity of redemptions. Simple enough, but what if other digital experiences were measured this way? Imagine telling an e-commerce executive that as soon as a visitor landed on their website, the company stopped tracking and measuring engagement with no regard for the source or the value of individualized tracking and different consumer experiences.
The knowledge gap is enormous. Brands are losing highly valuable information, and as a result, missing substantial cost savings and revenue optimization. It’s vital to know the consumer’s path to purchase, especially when it’s tied to a specific online coupon that’s being funded by the brand. While most large brands today are still “driving blind” when it comes to their digital offers, RevTrax has the technology to provide insight, visibility, and intelligence where it didn’t exist before in online coupon strategies.
Online Coupon Strategies With RevTrax
RevTrax technology allows brands to measure omni-channel offer engagement and report on virtually everything, including cost, sales, profit, and ROI, then connect them to the upstream marketing engagements that drove them to begin with. This powerful connection allows marketers to view all types of performance metrics including keyword, message, channel, device, segment, and location, to things like optimal offer value, average number of days to redeem, how many people the online coupon was shared with and at which retail locations the offer was most redeemed. In the case of online retail coupons, the insights don’t stop there. Measurement can be extended to the basket where the insights are virtually endless.
Tracking and measurement are not the last stops for brands leveling up their online coupon strategies with RevTrax. In fact that’s where their story begins. With products that drive everything from offer security, to social sharing, to optimal offer value optimization via A/B testing, our clients gain a level of visibility and control over their online coupons they never thought possible.
Contact us to learn how your brand can enhance your coupon strategy with the benefits of powerful coupon intelligence.