This is the second entry of a two-part series examining different online marketing strategies and tactics in a struggling economy.
So, is couponing in a down economy a crutch? Maybe. Brands lacking the strength to build loyalty through relevancy, community and interactivity have conditioned their customers and may not be poised to emerge into a better economic climate as well as they could be.
For many other marketers where couponing is a reality of doing business to drive trial and adoption, moving those coupon budgets online can be a big win. The efficiency that can be realized in production and distribution of relevant offers online is a compelling argument in itself. Add online consumer behavior and potential efficiencies in usability, redemption and overall response rates, and you can see that “building a better mousetrap” for a coupon program can work.
Internally here at Knotice I’m pleased to say that we have these types of debates all the time. Our platform allows us to be completely agnostic when talking tactics because the software can facilitate both coupon and relevant marketing.
So, what’s better in a recession-like economic climate – coupons or relevant marketing?