Report: Card-Linked Offers Key to Getting, Keeping Customers (Sept. 8, 2015)
Card-linked offers could help marketers, retailers and issuers as consumers seek more efficient ways to redeem loyalty points and coupons—especially the coveted millennial demographic—a recent study says. Conducted by Forrester Consulting and commissioned by Linkable Networks, the survey of 516 U.S. consumers identified several pain points that hinder usage of paper and digital coupons. Retailers and brands can address those pain points by linking coupons to customer’s payment cards, thereby enabling automatic redemption when the card is used, the study suggests.
Among the key findings of the survey, 79 percent of respondents said they would be likely to try new brands or become a repeat customer of retailers that offered coupons. Digital and print-at-home coupons were rated more difficult to use than paper coupons. However, the major pain point with paper coupons was forgetting them when shopping—and 79 percent of respondents reported deciding not to buy an item because they’d forgotten to bring the coupon to the store. The inconvenience of searching for and clipping out paper coupons also was cited as a barrier to paper coupon usage.
Survey respondents cited card-linked offers as an attractive alternative. Younger consumers were especially open to card-linked offers, with 64 percent of millennials reporting they were likely to link loyalty cards to a credit or debit card and 55 percent were likely to link coupons and offers to a card. Meanwhile, 63 percent of millennials said they would be more likely to try a new brand for which they received a card-linked offer.