Digital Coupons Rising in Popularity
Digital coupons have experienced tremendous growth in popularity over the last year or so. According to research from Nielsen, not only are more people going to the sites, but the average amount of time spent there has increased as well.
"The Web offers opportunities for growth like no other channel. Quick case in point – readership of traditional offline newspapers has declined significantly of late, and with it, the consumption of newspaper circulars," says Nielsen’s Ken Cassar. "Meanwhile, visitors to online coupon sites increased 42 percent from December 2007 to December 2008. And while an increase in visitors usually leads to a decrease in average time per person, in this case time spent is also up by 28 percent year-over-year, indicating that visitors are more thoroughly engaged."
Online businesses who aren’t offering coupons should seriously consider doing so. When you can save your customers money, they’re more likely to spend more of it with you. It’s also a great way to build customer loyalty.
For example, in a SmallBusinessNewz article last year, I talked about an auto shop that gave out coupons for 20% off the next service with no expiration date. There’s no telling how much more business they brought themselves by handing out such coupons.
There’s no reason why a similar concept couldn’t be applied to a digital coupon. Obviously these economic times have a lot of people looking to save money anywhere they can. Why shouldn’t they be saving it by using your coupon? Doug recently looked at some tips for creating good ones.