Put down the scissors, coupon cutters. There’s a new coupon management system in town, and it’s taking the digital route.
Available for download via Apple’s iOS or Android, Coupon Wallet in Sterling Heights allows users to collect and save coupons from Facebook, banner advertisements, or by scanning QR codes on printed advertisements.
The app isn’t designed with just consumers in mind, however. The firm is also working with businesses to track coupon usage via the app, providing businesses access information about who is using their coupons and how they can improve their ROI.
“Coupon Wallet is really designed to provide the marketing insight that businesses don’t normally get by attributing a sale value to a (coupon) marketing campaign,” says Christopher Papa, spokesman for the startup, based in the Macomb-OU INCubator. “We empower businesses with that information, while at the same time, developing a captive audience for that business, so we can (hopefully) push those people back into the store over and over again.”
Noting that mobile redemption rates are 10 times higher than paper coupons, a statistic echoed by a study done by U.K.-based Juniper Research, Papa says the app was specifically designed to have advantages over paper. “The normal paper coupon is only used at a 1 percent rate, and if you figure the effort that goes into mailing those coupons, it’s not a very cost effective model. So we can deliver coupons directly to target audiences, people who actually want the coupons.”
The company, which recently exited its beta testing stage, has partnered with Romeo Computer Co. to handle digital-marketing services for client promotions, including Dooley’s Tavern locations in Sterling Heights and Mt. Clemens.
For more information, visit couponwallet.com.