Traditional Coupon Vs. Dynamic Coupon
In 2019, 132 years after its very first appearance, we can say that the Coupon has proven itself. According to a study conducted by Elisabeth Cony, founder of Madame Benchmark , 86% of consumers say that Promotional Vouchers largely determine their purchasing actions. And for good reason: the discount and discount guarantee encourage the user to validate his shopping cart .
A priori, the Coupon is a mass marketing technique. However, at Time One, we know that personalized marketing is the key to a better customer experience. The development of technologies made it possible to work Couponing more intelligently. That’s why, together with our specialist partners in this tool, we are now integrating many Dynamic Coupon strategies into our customer campaigns.
There are several differences between the traditional Coupon and the Dynamic Coupon. The latter gives the Advertisers greater leeway. These have the possibility of adapting in real time the discount distribution via the Coupon Codes according to their purpose . In addition, it should be kept in mind that the implementation of the Dynamic Coupon requires the creation of unique Promotional Codes per scenario agreed with the Publisher, whether the flow of a product in particular in high inventory, buying incentives, targeting a particular profile, or whatever. The challenge lies in setting up scenarios with high potential.
Case by case
Several scenarios are applicable by the Advertiser depending on its objectives and the target audience.
For a former customer, the Advertiser is in most cases moving towards a goal of increasing the shopping cart of the user.
For example, if a user with a basket worth $ 35 is looking for a Coupon Code on the web for the purpose of receiving a discount, and he arrives at a Couponer’s website using Coupon technology. Dynamic, a Promotion Code will be offered from € 40 purchase. This method will make him want to add a product to his basket to enjoy. If the user had a shopping cart of 45 €, we would have pushed a Coupon Code from 49 €.
It also works by additional sales system : when the consumer has stopped on the site of a Advertiser and has selected one or more products that he immediately placed in his basket, it will offer him Dynamic Coupons valid by combining complementary products .
The approach to attracting new customers is somewhat different. The Advertiser may offer a higher discount or additional service if the user is identified as a new customer. Example: from € 50 purchase, a Promotional Code of € 20 is generated and delivery is free from € 29. This is a significant reduction and only for new customers.
How the Dynamic Coupon works
The Dynamic Coupon is a technology that can bear fruit both online and offline . Where are buyers likely to find these coupons? If, initially, it was common to find them in physical version on the receipts, it goes without saying that at the moment, they are available on the digital supports – on the sites of Codes Promo , the engines of search , mobile apps , price comparators , etc. They are nevertheless still found in paper format, particularly in the form of a voucher.
There are various ways to know the buying behavior of a customer. The history of the loyalty card comes offline. Regarding online, we now have access to his browsing data collected by cookies, or to his personal data reported by the CRM tool (Customer Relationship Management) – including its location, income, etc. .
How to integrate it into your marketing strategy?
The Dynamic Coupon supports and promotes the recruitment of new customers, the commitment and the loyalty of the consumer. Therefore, using it in its marketing strategy is a real asset.
This technology allows Advertisers to have better control of the distribution of the Promo Codes in line with the fixed strategy and maintain tight control over it. One of its advantages is to make sure that no obsolete Promo Code is visible to users, that no code intended for CRM is distributed via the affiliation network.
The steps to follow in incorporating this technique into your marketing strategy:
- Retrieve the useful data concerning the variables influencing the request (purchasing history, loyalty card, etc.);
- Analyze this data using tools such as CRM, algorithms, etc. ;
- Predict the request based on the stored data;
- Deduce the price that will maximize income;
- Use Editors using Dynamic Coupon Technology;
- Generate unique Promos Codes;
- Integrate the partner’s token on the Advertiser’s site;
- Re-adapt the strategy following an analysis of the first results.
To facilitate this type of operation for advertisers, Time One – Performance is responsible for accompanying them via a tailor-made strategy and putting them in contact with the publishers able to create this type of content. More broadly, Time One – Performance supports merchants in their Performance Marketing strategy: from setting up an affiliate network to fulfilling their goals!