Geosocial vs. Mobile Coupons- Which is more effective?
With the holiday season around the corner and the economy making weak improvements at best, retailers are on the lookout for effective ways to get their customers into stores at the lowest cost. Marketing professionals are likely Googling for new marketing ideas in order to meet the demands of the business and consumers alike. Two of the most talked about marketing mediums today are geosocial networking and mobile coupons. We’ve heard our customers question the effectiveness of both and want to provide some facts on which is more effective in reaching the end consumer.
First of all, lets clarify what “geosocial” networking is. Companies such as Foursquare and Gowalla are offering individuals the ability to notify an entire network of friends and family of his or her location. The benefit to retailers here would be that one consumer could notify others of their location and perhaps also relay information about current promotions or specials. Currently 4 percent of the US population is actually using this social location tool, and on any given day, only 1 percent of the population is actually logged in to this social tool, according to Forrester Research.