A common question we are asked here at TXT180 is how to track a mobile coupon’s redemption and the conversion rate of their mobile coupons. Because this question has come up in several of our conversations, we have amended our list of How To’s for Mobile Marketing to include some information about this. One item of great importance when considering mobile coupon campaigns is that mobile coupon redemption will always require an action to be taken at the P.O.S (point of sale) of the business. We’ll use this consideration in how to develop a coupon redemption and conversion tracking method.
Mobile Coupon Redemption
There are several reasons why a business would want to track coupon redemption, most prominent reason being they don’t want customers getting their specials multiple times. Depending on the campaign, multiple coupon redemption by a customer can actually be beneficial to a business because it drives consumers to a business multiple times to patronize. Obviously, if a business is running a coupon campaign for free items, it’s not going to produce any revenue so a multiple coupon redemption won’t be beneficial in this case.
Preventing a multiple coupon redemption can be as easy as keeping track of phone numbers of those that redeemed the coupon in some form of data storage. This can be accomplished in something as easy as a spreadsheet, which allows for sorting of numbers, searching for unique numbers, and even keeping track of coupon codes if you have them. At the P.O.S, when a customer shows their text to the employee, the employee can easily key in the number of the customer to search the existing data for an already redeemed coupon, or add their number to the existing data if this is their redemption.
Tracking Mobile Coupon Conversion
Mobile coupon conversions is easily calculated when there is a P.O.S redemption tracking system. By comparing the number of coupons redeemed to the number of actual coupons sent, a business can calculate a percentage of conversion for that particular coupon campaign. Once this is known, a company can get an overall look at how effective their coupon campaigns are and can deliberate over ways to improve these campaigns to be more effective.
Tracking mobile coupon redemption can be a very effective tool for measuring your text message marketing campaign. Implementing something as easy as a spreadsheet at your P.O.S system will provide an up-to-date and accurate method of tracking redemption and conversion rates.