The likelihood of consumers viewing, printing and redeeming a digital coupon at a brick-and-mortar store rises 19.6% if the coupons become accessible at 8 a.m. on Wednesday, according to a recent study by RevTrax, a partner of Experian CheetahMail that offers couponing features in CheetahMail client email programs.
The study finds that consumers print the most digital coupons on Wednesday and Thursday
The study finds that consumers print the most digital coupons on Wednesday and Thursday, which suggests consumers access online discounts mid-to-late week to redeem them during the weekend. Conversion rates constantly exceed 60% between 8 a.m. and 5 p.m. (key work hours), and conversions peak between 8 a.m. and 10 a.m., as well as noon and 5 p.m.
So what can email marketers do to capitalize on the e-coupon-obsessed this holiday season? Here are a few tips from Experian CheetahMail:
- Use testing to keep response high and costs low: Often times, emails providing coupons to high-value or existing buyers do not have to be as aggressive or frequent as those sent to new customers.
- Create a sense of urgency and exclusivity: Despite the ease of use/redemption that many online coupons offer today, customers can take a long time to buy. Use words such as “exclusive” or “limited time only” in your subject lines.
- Use coupons to drive word of mouth: Ensure that you prominently display “Share with your network” or “Forward-to-a-friend” buttons in emails containing shareable coupons. The impact can be huge!
RevTrax ran statistical analysis between December 2008 and August 2011 to determine the best time to present coupon offers. The data represents millions of views and prints broken down and analyzed by volume per day and hour, conversion rate, percentage of coupons viewed and printed, per day and hour. It also tallied the odds or likelihood that a consumer will print a coupon based on any given day and hour.