Mobile Coupon Clipping – A New Location-Based Money Maker
The trend towards location based marketing is growing and getting some well-deserved attention with the recent developments and statistics provided in regards to consumer use of mobile coupons.
"Our research shows that consumer interest in mobile coupons continues to grow, giving brands, merchants and marketers a powerful new opportunity to establish and maintain relationships with consumers," said Greg Stuart, CEO of the Mobile Marketing Association (MMA) which defines mobile coupons as "electronic coupons or rebates that traverse the full redemption process without the requirement for conversion into a paper or other hard-copy format."
Starbucks realized this powerful opportunity when O2 Media recently revealed its You Are Here campaign debut for the company that resulted in a recall rate of 93% to promote the company’s Via instant coffee.
With a strong outlook for the future, other companies are buying into the mobile coupon service community, as well. For example, nSphere, a local advertising service provider that aggregates online content, was reported to have purchased Boston-based Peekaboo Mobile for an undisclosed 7 figure sum last week.
Peekaboo, founded in March of 2010, makes applications for the Android and iPhone that when used, allows for consumers to find local mobile coupons that are available for use through the company’s partner and mobile applications network. By using the services provided by Peekaboo, company owners can create their own coupon deals, a service Peekaboo Mobile now provides for free, that are then provided via this network for consumers. The Company’s founder, Ben Dolgoff, was reported stating, “Through these relationships (networks) we can reach over 50 million consumers.”
As we continue to see news and trends such as this, the next 12-24 months are likely to bring about an upward exponential shift in the use of location-based marketing services, such as mobile coupons. However, as of late, companies are still a bit unsure as to the true impact these types of services can have, largely in part due to the lack of analytics and comparative data in the marketplace. Given this, businesses struggle with how to implement an effective service, or more importantly, which location-based service or mobile coupon promotion would work best for them.Continued on the next page