(This is the 4th post of a 4-part series on second-party ecommerce data for non-ecommerce businesses)
Coupon companies can benefit from second-party data
If you are in digital marketing, you know that ecommerce companies can benefit from having access to second-party data and being part of a data co-op. As an online retailer, why wouldn't you want to have your business put in front of potential shoppers, who have just left your competitor's site and didn't make a purchase? But even if you're not an ecommerce company, there is still something quite tangential in the information data co-ops collect that can be very beneficial to companies, which are looking for people ready to spend money and shop online. Coupon companies are another in a line of businesses that are not ecommerce sites, but are still prime candidates, which can benefit from second-party data and joining an ecommerce data cooperative.
Consumers love deals!
Online shoppers have become more and more savvy over the years and if they can't find a coupon code directly on a retailer's site, many times they will jump off and go to sites like RetailMeNot, Coupons, SlickDeals, eBates or the many other coupon companies a shopper can find easily online today and see if there is a deal for the ecommerce site where they are looking to make a purchase.
But from a coupon company's perspective, it is not necessarily concerned which coupon you use on its site, only that you find a coupon on its site that you can use to save money on a purchase for a product you found while surfing the web.
Quickly, let's give two examples on how coupon companies could benefit and use second-party data to further their reach:
- An online shopper is about to make a purchase for running shoes, but decides to keep searching other sites, just to make sure the price she is seeing is a good one. As the user leaves this running shoe site, she is shown this fictitious ad: $30 off online orders over $100 - Nike.com - Today Only - Code: NIKE30DAY - FatWallet.com
- A user in Santa Monica, CA is looking on a site that delivers food for a business lunch he is planning for next week and when he leaves the site without placing an order, views this geo-targeted fictitious ad: Food and Drink Groupons in Santa Monica, CA - Yummy Never Cost So Little!
Being part of a data co-op gives marketers access to individuals are who are actively looking/shopping on ecommerce sites. This in turn gives businesses, like coupon companies, users who have more of an intent in making a purchase now or in the next 48-72 hours than people online being targeting simply by using demographic data.
Save shoppers a step
While there have been blog posts about the pros and cons of vouchers and coupon codes, it could serve coupon companies well to start thinking about implementing a second-party ecommerce data strategy to show coupon code ads to users who are actively shopping on ecommerce sites in real-time. By knowing what sort of sites users are shopping on, a coupon company can provide much more relevant discount codes to eliminate, or at least lessen, the amount of searching that savvy online shoppers go through to find great deals.
Other non-ecommerce companies who could benefit from second-party data
What online business wouldn't want to have access to users who are ready to make purchases in real-time? And this is what being part of a data cooperative allows online marketers to acquire. A non-ecommerce site, like online coupon companies, who already have millions of visits per month to their sites, could still benefit from a higher conversion rate or use of their coupon codes - and this may be done by targeting not by demographic data but by targeting people who are searching the web at that moment for a specific product or service.
Here are some other posts on how second-party ecommerce data can help non-traditional ecommerce businesses: