- Digital coupon codes are now more widely used than coupon-clipping.
- Chatbots are bringing forth a new age of personalized marketing.
- Algorithms are making it easy to craft special offers that meet the specific needs of consumers.
- Artificial Intelligence is optimizing the interaction between consumers and marketers.
- Businesses risk missing out if they don’t integrate emerging technologies in their marketing operations.
No one ever said that they hate getting discounts. Everyone loves a coupon, be it rich or poor. Surveys have revealed, over 60% of the public love using digital coupons to save more while shopping online.
According to coupon code statistics 52 million Americans used mobile coupons last year. It has also been revealed that over 30 billion coupons have been globally redeemed in 2020. The revenue generated by emails that contain coupons has increased up to 48%.
These figures indicate that we live in a world where consumers are obsessed with bargains. They feel more satisfied when they find an item sold for half of its original price.
With the global economy brought down a halt by the Coronavirus pandemic, people are resorting to using discount coupons to save considerably on their day to day purchases. It appears that online coupon marketing has a bright future. However, how this marketing strategy will adapt to the latest technological advancements is still a mystery.
How AI has influenced coupon marketing?
One of the latest technological advancements we know of today is the Artificial Intelligence technology. AI has greatly influenced the sales industry. Customers’ interactions have constantly been improved with the introduction of AI into the online customer services industry.
Today, consumers can enjoy instant personal customer service with the help of AI-based intuitive chatbots. With AI slowly taking over the retail industry, it is safe to say that in the coming years, this technology will entirely change the online marketing landscape.
The bespoke future of digital coupons
According to experts, the digital coupons marketing will get a lot more personalized. With the advent of the internet, every company has access to the information regarding the likes and dislikes of their target audience.
There are plenty of reasons why access to this level of customer information is crucial to the success of a brand. It not only helps these companies identify their target audience but also gain an insight into the online shopping behavior of their customers.
This makes it easy for these brands to optimize their marketing campaigns according to consumer’s desires.
Various marketers have added Facebook’s Pixel to their online marketing strategy. It allows them to learn which products the visitors of the website are the most interested in. It helps a lot in creating a marketing strategy that caters to both new and old consumers.
The audiences who are new to the website receive relevant coupons as a form of incentive. This strategy turns new visitors into loyal customers of the brand.
Bespoke coupons also serve as a great way to retain returning customers. By sending customers discount offers straight into their inbox, brands improve their standing in the market.
The emergence of chatbots and online couponing
Chatbot technology is one of the most significant advancements that have happened so far in the field of Artificial Intelligence. It has completely changed the customer-facing business operations.
Chatbots serve as a nifty tool to manage the slack caused by human customer service operators. This technology serves as a great way to communicate intricate information to consumers.
Organizations can integrate chatbots using a variety of plugins to answer troubleshooting queries and complex questions in a matter of seconds. Now the question is how the Chatbot technology is effective for digital couponing.
The answer is this technology has to turn out to be exceptionally effective in offering a more personal solution to digital coupon marketing. When it comes to online couponing, underestimating the Chatbot technology will be a mistake.
The future of coupon marketing is not in the old norms. Physical coupons with online codes or vouchers are things of the past. Today, marketing strategies need to be more conversational to get users’ attention and to make the most of a coupon marketing campaign.
How chatbots can help with coupon marketing?
Unlike human customer service operators, chatbots offer a real-time response to customers’ online activity. It monitors the target audience’s intent, interest, and online behavior to offer them personalized online coupons. These discounts can be availed using QR-code in-store or using a discount promo code online.
How AI-driven, voice-activated assistants help with coupon marketing?
As far as coupon marketing is concerned, voice-activated assistants such as Google Home and Amazon Echo are turning out to be both challenging and helpful.
Marketers are trying to come up with ways to make coupons available through every shopping channel, be it in-store or online.
Monetization of voice search functions can open new possibilities for the coupon marketing industry.
According to tech marketing experts, this uncharted territory of technology has a great potential to boost online businesses. Various established names such as Target are all set to introduce a voice search function to their online coupon campaign.
Google and Target have already launched their first trial coupon code. This marketing strategy is serving as an advanced way for consumers to unlock coupon offers.
Being an AI-driven initiative, the voice-activated search can offer consumers customized coupons. Having so much to offer, AI technology is far more effective than old fashioned approaches to coupon marketing.
Ways AI can help boost a coupon marketing campaign
When it comes to the AI technological revolution, every area of the retail industry has been influenced, including coupon marketing. Today, every marketer and layman is aware of the applications of AI and how it is changing the world with its high technology efficiency.
This technology has now become an essential aspect of business development. Following are some of the points that show the influence of AI on the online coupon industry.
1) Better interaction with consumers
Everyone loves the opportunity to save some bucks on their online or in-store shopping. Brands offer their consumers the opportunity to save big by providing them with discount coupons, promo codes, and deals.
According to a survey, over 60% of consumers love using coupons while shopping. Apart from this figure, over 80% of the consumers like receiving emails regarding sales and discount offers.
This indicates the vast demand for digital coupons, especially in times when the economy is constantly declining. AI technology can suffice this demand by offering personalized coupon offers to consumers. It can inevitably boost the sales conversion rate.
The majority of the online stores today have switched from real-life customer service operatives to natural chatbots. The customers who shop online look for deals and coupon codes on the website they are visiting. With the rise in online shopping, there is not enough manpower to timely respond to customers’ queries.
Similar to how businesses use video editing software to optimize visual marketing, chatbots are needed to uplift coupon promotion. To cater to this problem AI support is needed. Marketers understand how the delay in response can influence customers’ purchasing decisions. It can also reduce the effectiveness of discount programs or coupon strategies.
Using AI to address consumers’ concerns is a smart move that can take the customer service of any business to the next level. With the introduction of Chatbots, customer service can be improved. This will reduce the cart abandonment issues that arise as a consequence of delayed response.
With effective Chatbot technology, customer mannerisms and behavior can be monitored. This way technology can address tricky questions and communicate intricate information to the consumers. Using this technology, personalized coupons can be delivered to the right subject.
2) An innovative approach to offer a coupon
AI has entirely changed the way consumers used to access coupons. Different digital coupon campaigns are launched for different purposes. They are intended to cater to an entirely different customer range. The type of coupon a brand launches depends upon the target audience and the objective it is trying to achieve with the campaign.
Using AI technology, coupon site operators understand what their audience wants from them. It helps them realize which products are the most favored by the target audience. By learning this information the website operators can decide which products to offer discounts for.
It makes it easier for them to categorize and identify the target audience and which type of coupons should be sent their way. This dramatically increases the chance of coupon consumption.
3) Identify who to target with a coupon
Before designing a coupon marketing strategy, brands need to know who to target with online coupons. The first step of designing a coupon marketing campaign is identifying the customers who would return using discount coupons.
When a customer returns to the brand’s website, it means he is satisfied with his purchase and is likely to buy more. This means he is a long term customer. Using AI technology you can identify who your long term customers are and make them your coupon target audience.
AI tools enable marketers to define their potential shoppers. It collects consumers’ data and makes coupon marketing highly targeted to drive the best results.
To make your coupon marketing strategy more effective you need to use AI technology to learn about the history of your customers and what they like about your brand. AI tools monitor consumers’ habits to make that happen. Coupons can be found at websites like RetailMeNot, Groupon and more.
Similar to any other field of marketing, couponing has been highly influenced by the introduction of the ground-breaking AI technology. From chatbots to voice-search assistants, every revolutionary technology is used by brands to run a successful coupon marketing campaign.
AI doesn’t just make it easier for the consumer to redeem online coupons but also help marketers understand who to target with discount coupons.