CoupSmart Blog

Why The Coupon Process Is Dumb (And How To Make It Smart)

Nick Sweeney — Thu, 23 Feb 2012 13:00:53 +0000

Imagine trying to navigate a crowded highway using a horse-drawn carriage.

Imagine issuing receipts to customers by writing them out one by one. Using a calligraphy pen.

Imagine using Netscape to watch Hulu.

This is pretty much the state of modern-day coupon clearing houses.

Before joining CoupSmart, I figured, just like banking and retailing, couponing had caught up to modern times and it was already mostly automated.

Boy was I wrong.

Here's what happens when you hand a coupon to a cashier at your local store:

At the end of the day, all the coupons are put into a big plastic bag. About once a week, every store sends their bags of coupons to their headquarters. The bags are all boxed up and then sent to a coupon clearing house.

At the clearing house, the bags of coupons are sorted - usually by hand - and the non-scannable coupons (the torn, smudged, illegible ones) are separated from the rest.

Depending on the system, the remaining coupons - remember, each individual store gets thousands of these a week - are either placed on a conveyer belt where they are scanned in, or are counted by hand.

Yes, counted by hand.

As the blog I Heart CVS explains:

"In football field-size warehouses filled with long tables, computers and numbered boxes laid out in grids, thousands of people, almost all of them women, empty sacks of coupons that arrive from the United States by the truckload. They then sort and scan the coupons."

Once everything has been counted, the clearing house then sends the coupons and an invoice to the manufacturer. Some manufacturers will even count the coupons again to make sure everything has been properly redeemed.

All of this is, as How Stuff Works put it, "hopelessly antiquated."

While it is antiquated, it's not hopeless. CoupSmart is changing the way coupons are counted and redeemed, and are helping businesses automate their coupon redemption at the point of sale, saving countless hours and cost. This is especially important when you consider that most online coupons aren't verified until after they're redeemed.

To find out more about how CoupSmart can help make smart the dumb coupon process, check us out at www.coupsmart.com.

Customers Want Your Social Media Campaign to Go Viral

Coupsmart Admin — Wed, 22 Feb 2012 13:00:15 +0000

Always a major concern for businesses when considering a marketing campaign is the return on investment that they will see. While social media marketing may cost far less than advertising in the traditional space, the risks can still be great. The time involved in thinking up an idea and executing it using social media is not to be overlooked. It becomes even tougher if you do not have any staff members devoted to this activity full-time.

So, is it worth it to use social networks to market to your customers? YES!! And, here’s why.

When it comes to whether or not you can get folks to talk about your brand online, there is good news. A recent study published by uSamp and discussed in an article on The Next Web found that the willingness of people to share brand preferences on social networks is quite high…for both genders.

According to the research, 74% of men are willing to recommend brands that they like. For women, the willingness is 78%. That’s a pretty good indicator of the potential that lies in wait for your business on social networks. But, if you’re expecting a random post endorsing you from a loyal customer that gets shared a thousand times over, you will most certainly be disappointed.

Here are some things to keep in mind when trying to turn your customers into fans, and fans into vocal advocates for your brand:

Be Present – Ever heard the phrase “must be present to win”? Well, it absolutely applies to social media. You need not be everywhere, as we discussed previously. But, you should be found where your customers gather. Find out where that is, and make the effort.
Offer Content that Fans Want to Share – Consumers interact with a brand online because they want something exclusive. Usually, that something is a special deal they can’t find anywhere else. And, once they find it, they like to share it. There is something enticing about being the one to deliver a great deal to friends, and watching it spread. So, if you want your campaign to go viral on social media networks, make it irresistible.
Nurture Relationships – Once your campaign has gone viral, you’ll have many more customers beating down your door. Good for you. Now you must keep them. As it’s well known, the cost of keeping current customers is far less than acquiring new ones. So, keep your brand in the front of customer’s minds. Talk to them. Answer their questions. Offer another deal that continues that viral activity. Work towards building loyal customers that will talk you up if given the chance. And, give them that chance.

If you’d like some ideas on how to get your customer’s attention with social deals that get them talking, download our FREE eBook Here.

No, Social Commerce Isn’t Dead

Nick Sweeney — Tue, 21 Feb 2012 13:00:37 +0000

Within the past year, Gap, Nordstrom, JCPenney, and Gamestop have all shuttered their Facebook Stores.

Is f-commerce well, f'd?

No. Before crying how useless Facebook is for businesses, it helps to take a second to see what these stores did wrong.

Here's an important lesson to learn: You can't just copy and paste your storefront into a new medium and expect it to work like magic.

Each social media network works differently and has a different audience (which we discussed last week), so if people are used to buying from your website, changing that behavior so that they'll buy from your Facebook Page takes more than just offering a venue to purchase.

On social networks, people need an incentive to buy, not just an ability. Putting up a storefront is not an end to itself. It is a beginning.

Sucharita Mulpuru, an analyst at Forrester Research in Cambridge, put it best: "it was like trying to sell stuff to people while they’re hanging out with their friends at the bar.”

This whole idea was mentioned almost a year ago - we even wrote about how social commerce is like selling hot dogs. In short, people don't go to social media networks to "shop" - they go to hang out with their friends.

As Wade Gerten, CEO of 8thBridge said,

The best way to monetize social media is to empower people to promote products to their friends not for brands to spam you on Facebook. Online shopping experiences are better when they’re social.

That can mean anything from contests to photo uploads to socially shareable coupons. It means giving Facebook fans a Facebook-specific experience and Twitter fans a Twitter-exclusive experience.

What's most frustrating about this is that Gap, Nordstrom and the like are big brands - they should have known better.

F-commerce and social commerce aren't dead, especially when they're done right. It's not about cramming another storefront in their face - It's about making buying and saving a social experience.

UPDATE: Seems not every business is blind to what f-commerce can do. As Social Commerce Today posted today, Heinz Soup received an average of 1 sale per 8 fans and 700 sales a week. Maybe JCPenney and Gap can ketchup to them.

Is it Social Media or Peer Pressure Media?

Nick Sweeney — Thu, 16 Feb 2012 13:00:19 +0000

In our last post, we talked about the shear abundance of social media networks. It's a bit ridiculous.

Of course, your business doesn't have to be on every one (and, unless you have a hundred-man social media team, it shouldn't), but when selecting which social media network they should be present on, a lot of companies just seem to follow the herd mentality.

Because social media is social by nature (duh), it's bound to succumb to the power of peer pressure.

This can play great for your business, especially when it comes to viral marketing messages. But if you feel like you have to be on every network just because everyone else is, you may be suffering from Peer Pressure Media.

Peer Pressure Media, of course, is social media gone bad, and it can suck the life out of your social media strategy, by spreading your brand or business too thin.

Pinterest is the hot new social media club in town, but if your business isn't that visual, do you really need to be on it?

Google Plus is looking more and more promising, but if 90% of your target market is on Twitter, do you need a presence there?

Or what about those social media "wastelands"? It's not a wasteland if your target market is there. MySpace is still a great social media platform for bands, so it makes sense for them.

The point is, what should be guiding your social media marketing is the same thing that should be guiding all of your marketing. It's less "this is where all the cool kids are", and more "this is where our target market is".

So, whenever the Next Big Thing arrives, take a look at it, evaluate if it fits, or even ask your customers if they've joined. But don't go diving in until you can answer this question: What will joining this network do or my brand or business?

I Got 99 Social Media Networks, and Yigg Ain’t One

Nick Sweeney — Mon, 13 Feb 2012 13:00:59 +0000

If you click on the green share button below, you'll see five distinct ways to share this blog post (Editor's Note: We highly encourage you to share this blog post).

You've got your standard email, followed by four favorites: Facebook, Twitter, LinkedIn, and Yahoo!

But click the little blue "More" link. Go on, we'll wait.

Whoa. Crazy, huh?

We'll save you the counting: leaving out email, there are 99 different social networks represented.

Ninety-nine! (Somewhere, Jay-Z is writing a song about this).

So just how are you supposed to keep up with all of these sites, especially with the fleeting nature of social media? Like night clubs and pop songs, they can get extremely popular real fast (hello, Pinterest!) but can then quickly fade to obscurity (goodbye, TypePad!).

From a business standpoint, this can get extremely frustrating, not to mention costly. And good luck trying to remember all of those login passwords.

What's a company to do?

There are three roads you can take when choosing a social media network for your business:

1. Know your target audience and hitch a spot on their niche social networks

If you cater to a German audience, then maybe Yigg is your social channel of choice. Or maybe Brainify is the best way to reach an academic audience. With the variety of choices, you're sure to find a niche that fits your business.

2. Pick a few major sites and stick to them

Instead of trying to follow the latest hit song or be the next great night club or one hit wonder, stick with the classics, or pull up a stool at your favorite old neighborhood bar. If you look closely, almost every one of these disparate social media sites have one thing in common: a Facebook connect button.

3. Do both

Like all things in marketing, it often comes down to testing, measuring, and adjusting as you go. So, pick a few niche sites and keep posting on the big boys and see what happens. Who knows? You might just find that kirtsy is your number one traffic source while Twitter is a dead bird for your business.

No matter which path you choose, the idea is to not spread your social media too thin. Pick two or three and do them well. Any more becomes unmanageable and worse, tedious.

Don't forget that with every social network you join comes expectations to be present and conversational (as well as new passwords to remember). The more you join, the more you'll have to keep everything fresh and updated.

So choose wisely, but don't feel obligated to stick to any one site if it's not working for your business. Remember: you can always leave a network that's just not working for you.

What do you think? Are there obscure niche sites you're a part of working for your business? We'd love to hear your thoughts!

5 Ways to Ramp Up Your Business In The Dead of Winter

Nick Sweeney — Thu, 09 Feb 2012 14:30:18 +0000

February sucks.

There, I said it.

Unless you're in the business of selling naked babies with archery skills, roses, or chocolate hearts, it most likely sucks for your business, too.

Nobody wants to go out. The allure of the first snow has long passed, and you're still finding flecks of tinsel in your carpet. We've had it up to here with winter.

But there are a few ways to lure the customers out of their Snuggies, off of their couches, and away from the warm glow of their TV sets.

The key word there is lure.

Here are 5 great deal ideas to get your customers reaching for their keys and scrapping off the windshield to get out to your business.

1. Hot Cocoa Night

Who doesn't like a warm drink on a cold night? Restaurants have the perfect opportunity to draw in a cold-fearing crowd by offering a special offer.

It could be a hot cocoa, it could be warm and inviting comfort food. Offer anything that will warm bellies and heat up that cash register.

2. Stock Up and Save

Give your customers a reason to buy out of season by offering a deal they can't pass up. Perfect for CPG companies whose sales drop off in the winter, yet rise during the warmer months.

Create an offer now for non-perishable items usually purchased at a premium in the warmer months (think sunblock, bug spray, camping gear, etc.).

Summer-related services can also offer buy-early specials. A lawn care business can offer a special rate if a contract is signed before the first of spring, for example. This works great for golf courses and water parks, too.

3. Cold Snap Specials

Of course, if your business relies on grey skies and snowy grounds, February may be your last great chance to cash in until later this year.

Now's the perfect time to offer a last-chance sale to increase your customer-base before things start heating up.

Ski resorts, ice skating rinks, hot tub companies all are perfect matches for a last-minute deal before the sales thaw.

Heating & air conditioner services can also benefit. Nobody will be thinking about their heater or A/C unit during the spring when the windows are open, so now's the perfect time to remind them to get their air conditioner looked at before the heat comes.

4. Car Care

Let's face it: cars get all the glory when the weather is nice. Riding down the boulevard with the windows down, and a hottie in the passenger seat - it's what cars were made for.

But cars don't cross the mind as much during the cold, dreary months of winter.

That is, until your car fails to start on a frigid morning.

February is the perfect time to remind your customers about the importance of car maintenance. Whether your business is a shop, a car wash, or detailing company, give your customers a deal now so they can cruise in style later.

5. Healthy Savings

Everyone gets all healthy-minded when the weather gets warm, but February is that time of year when New Year's Resolutions are long forgotten, and it's too damn cold to care.

So, why not remind your customers that spring is just around the corner and give them an awesome deal now, so they can be fit and ready for spring?

CPG companies, restaurants, and service providers can all benefit from a health kick before the health rush. It's the perfect February freebie for gyms, shoes stores, smoothie stands, and anything endorsed by Chuck Norris.

Did we miss something? Let us know in the comments!

Why Your Marketing Needs More Than Just One Touchpoint

Nick Sweeney — Tue, 07 Feb 2012 13:00:09 +0000

Your customer is walking down the cereal aisle at their local grocer and they see your company's coupon sticking out, waving.

"Hi! Pull me and you can save now!" it screams at them.

Luckily, it did the trick (coupons are funny like that - they work). Grabbing your coupon and your product, your customer goes on their merry shopping way. They hand the cashier your coupon and save 50 cents right away.

Awesome.

Is it? Your customer just paid 50 cents less for your product. But what did your company get out of the deal?

Or, to put it more succinctly, now what?

After all, you have no idea who this customer is and they have most likely forgotten all about you. How are you ever going to get their attention again?

You see, aside from expensive commercials or Sunday fliers, your company's ability to lure that same customer again is reset to zero as soon as that coupon leaves their hand. You now have to start all over again to get their attention. And that's assuming you even know who it was who redeemed your coupon (hint: you don't).

This Sisyphusian task happens to companies all the time. Just when you finally get a customer's attention, -poof!- it's gone in an instant.

That's why it's so important to have more than just one touchpoint for any marketing campaign; otherwise, it simply gets lost in the overcrowded noise.

Having trackable and socially identifiable marketing messages is key; it allows you to connect with a customer more than once, so you can go from a single impression to remarketing again and again. It's like starting halfway up the hill rather than at the bottom.

By adding trackability to shareable messages (such as trackable social deals), companies can connect with customers over and over again long after the initial message has been delivered.

Not only does your original message get farther reach thanks to the trust factor and sharing that's inherit with social media, but you get a catalog of consumers who you know are already receptive to your brand's or business' messaging.

The best way to get that customer's attention again is not to hunt him down, but to give him another offer he can't refuse.

And you don't have to hope he passes by that same cereal aisle to do so.

To find out how you can create trackable marketing campaigns that get more than one glance, check out the suite of apps at CoupSmart.

Your turn: Does your company use more than one touchpoint when launching a marketing campaign?

INFOGRAPHIC – Who Is The Social Consumer?

Nick Sweeney — Fri, 03 Feb 2012 13:00:47 +0000

Last month, we took a look at the social consumer, and learned a few things about how social media has forever changed the shopping and buying habits of this key demographic.

The infographic below (click here for the PDF version) shows not just how Facebook has dominated the social media sphere, but what makes the social consumer tick (and click). If you think you're a social consumer, let us know what you think in the comments.

VIDEO – What CoupSmart Can Do For Your Business

Nick Sweeney — Tue, 31 Jan 2012 13:00:43 +0000

So your business is a hit.

Well, at least on Facebook. But how do you translate online fans into in-store customers? The following video showing exactly how CoupSmart's trackable, customizable coupons can help your business make the most from all of its customers - both online and offline.

What CoupSmart Can Do For Your Business from CoupSmart on Vimeo.

Will It Scan? What You Need To Know About Online Coupons

Nick Sweeney — Thu, 26 Jan 2012 13:00:24 +0000

This week, we launched our brand-new coupon redesign. They're so purdy. Clean, simple, beautiful.

(As you can see, we also launched our ego this week.)

But self-congratulatory pandering aside, all the best design in the world doesn't mean jack if your coupon doesn't work as it's supposed to.

As our CTO, Troy Davis explains below, not all online coupons are alike. So be careful about coupons that are all veneer, but no substance - make sure you can actually use it at the point-of-sale.

As you can see, a CoupSmart coupon can scan under the most arduous of conditions. Scanability, obviously, is important for every coupon, but since CoupSmart's coupons are embedded with analytics, it's even more important for our system that you get the best experience possible.

So, a CoupSmart coupon scans, no matter what. The real question now is, will it blend?