Our partner VoucherCodes.co.uk published some recent findings last week that related to the use of voucher codes and their relationship with conversion rates. The study was conducted by Forrester Consulting on Behalf of Vouchercodes.co.uk and concluded the following:
1. The frequency of online voucher codes is increasing
2. Online codes are found to improve conversion rates
3. Voucher sites increase the amount spent by consumers online
The growth of the voucher code market is hardly surprising in light of the study’s findings that two thirds (66%) of current voucher code users would be more likely to use voucher codes in the next year and 41% are expected to use voucher codes on a quarter of more of their purchases through 2012!
The study, which analysed the impact of online codes for advertisers, revealed that in a marketplace populated by ever increasing savvy consumers, the online code was bringing many a measurable benefit to advertisers using this marketing channel as well as improving companies’ brand reputation and loyalty.
The Value of Engaging Voucher Code Users
Those voucher users who have consumed more than six vouchers codes in the past 12 months were revealed as having an average spend of £835 which is 71% more than those who consumed less than six. Active voucher users are also 8% more likely to try a new brand than light voucher users indicating the more shoppers use voucher codes, the more open they are to trialling new brands. Therefore, real value can be attached to higher engagement levels of voucher code users.
Max Jennings, co-founder of VoucherCodes.co.uk said the following of Forrester’s research; “The key findings from this new body of research help underline the value of voucher codes as an effective marketing channel for advertisers eager to maximise sales and drive incremental business.”
In her leisure time Lauren enjoys live music events, spontaneous adventures, vintage shopping and making attempts to master Italian.
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