In the mobile & online coupons space there is a pronounced trend from brands and retailers to offer coupons which are based around location-aware delivery mechanisms, be it NFC (Near Field Communication), Wi-Fi or GPS.
From their initial forays into the space, brands have recognised that coupons with a location element typically enjoy far higher redemption rates than those without, particularly in the form of impulse purchases.
Essentially, beacons allow an omnichannel approach to retail marketing, with consumers able to receive targeted coupons delivered to their smartphones whilst they are in store or walking close by.
Beacon technology defines the location of a smart device using BLE (Bluetooth Low Energy, or Bluetooth Smart) signals. Thus, if a consumer with an enabled smart device, with Bluetooth switched on, is in the proximity of a beacon transmitter, the transmitter will recognise the device and can push pertinent content and information to that device.
Aiding With Redemption Rates
Beacons have been credited with helping redemption rates and have been used in a number of industries for the past few years, most notably in sports events and stadiums. For example, these beacons have been rolled out in a number of MLB (Major League Baseball) stadiums, such as the AT&T Park in San Francisco, where consumers can gain access to highlights and fan information, as well as upgrade seats and locate food vendors. As such, Juniper sees strong potential for beacons moving forwards, particularly in the retail sector.
In our latest video whitepaper, Tony Crabtree, MD, discusses Juniper’s latest research on Mobile & Online Coupons: Loyalty & Beacon Engagement 2016-2021
with Lauren Foye, Author and Research Analyst.