The types of digital promotions most likely to influence purchase decisions are coupons by a wide margin, not sales and daily deal vouchers, according to a survey of 500 US consumers who used a digital coupon, offer, or online promotion code in the prior three months.
Forrester Consulting, on behalf of RetailMeNot, conducted the study, which also found consumers professing to word-of-mouth and loyalty benefits for brands offering online coupons or promotion codes.
Around 68% of respondents agreed they are likely to tell a friend about a company that uses online coupons or promotion codes.
An equal 68% agreed that they are more likely to be loyal to a brand that offers online coupons or promotion codes.
The survey also indicates that half are more likely to buy a product or service at full price later from a company that offers online coupons or promotion codes.
Digital coupons can also drive consumers to try new brands – and even induce some to switch brands, per the study.
Almost half of those surveyed reported being very (20%) or somewhat (27%) likely to try a new brand if they received a digital coupon, offer or online promotion code on their smartphone while shopping in a store.
Respondents were less likely to say that they would switch brand in this scenario, although 36% professed to being very (13%) or somewhat (23%) likely to do so.
Past research has found a compelling portion of consumers attributing keen influence to coupons (not just digital coupons) when making brand decisions, although two-thirds of those influenced by coupons said they use them to buy familiar brands rather than to try new ones.
Other results from the RetailMeNot survey:
- retailer emails are the primary source of digital coupons, offers or online promotion codes among those who had used a computer to find one (this finding true for tablet users also);
- social media was a lesser source of digital coupons, with this likely to fall even further given Facebook’s decision not to allow Pages to incentivize likes through rewards;
- the vast majority of digital coupon users used them within days of finding them; half of respondents say they’re more likely to visit a store if they receive a coupon for that store; and
- a slight majority of those who had used a smartphone to find a coupon spent even more money during their visit (online or in-store) than they had originally anticipated.
The study began in May 2014 and was completed in June 2014. Six in ten respondents were female and 37% are under 35. About two-thirds had made 1-10 purchases online during the prior 3 months, and 7 in 10 had used a digital coupon, offer or online promotion code 1-5 times during that time span.