How to Optimize Coupon Campaign Duration
Brands seeking to achieve their objectives of acquisition (trial), retention (avoid churn) and maximization of loyalty (increase share of requirements) are all challenged with the same thing – reaching the right consumers at the right time with the right offer. Meeting these objectives with digital coupon campaigns requires careful planning and an understanding of how consumers shop. When building a campaign, you should not only factor in offer type and budget constraints, you should also consider optimizing campaign duration.
Digital coupons stay live over an extended period of time compared to other traditional promotional vehicles and can be increased or turned on or off at a moment's notice. This flexibility allows you to better align your campaign's duration with how consumers shop your brand's category. By basing the campaign length on consumers’ category purchase behavior, your digital offers stay up longer. You can extend your reach to capture more share of voice, while also controlling distribution through print limits.
Extend Offers, Reach More Buyers
To illustrate this point, the example below shows how a fabric softener brand can increase its reach by optimizing its campaign length. While the average category purchase cycle is 44 days, individuals do not all shop the same:
If the offer goes live on the first of the month and runs out in 20 days, the brand reaches a mix of heavy, medium and light buyers, all starting their purchase cycles on different dates.
However, by extending the campaign to match the category average purchase cycle of 44 days, the brand ensures it reaches its core base of medium and heavy buyers key to brand growth.
Best Practices for Optimal Campaign Performance
To optimize your brand's campaigns and reach as many consumers as possible, consider the following best practices:
Extend offer length – Run coupon campaign for one to two category purchase cycles. This will ensure you're reaching buyers with various purchase frequencies and hinder competitors from stealing market share with their offers.
Pulse offers – Launch campaigns throughout the year to reach new audiences as consumers have different print and visit patterns to Coupons.com.
Align with annual plans – Tie digital offers into promotional activities and annual plans to achieve various objectives throughout the year, avoid offer stacking situations, and maximize in-store trade opportunities. By allotting enough time, Coupons.com can collaborate with your retailer partners, work with you to establish success metrics and leverage analytics to prove value and goal achievement.
By understanding how long to run offers, how to stagger them throughout the year and how to tie them into their annual plan, your brand can reach a bigger audience, acquire more new buyers, protect your core base of buyers and optimize each campaign to achieve strategic goals throughout the year.