With the rise in average selling prices, consumer shopping habits have changed. They are either buying less or purchasing items for the same amount they are supposed to spend. As a result, coupons have gained a resurgence.

Today, the physical act of cutting coupons from newspapers has disappeared and is replaced by digital coupon tracking and price comparison tools. In fact, more and more customers are now turning to digital price comparison tools to fight inflation.

Thus, it’s high time for digital marketers to address this change in consumer behavior and focus on reinvesting or discounting. In the future, they must also reconsider the use of associated tools in their digital marketing strategy.

Digital Price Comparison and Coupon Tools 

Brands often use three kinds of digital price comparison and coupon tools in their digital marketing strategy. They are

• Dedicated digital coupon tracking tools,
• Integrated tools and
• Brand-owned tools

Let’s discuss each of them one by one.

Dedicated Digital Coupon Tracking Tools 

The affiliate marketing strategy of a brand often constitutes third-party digital coupon tracking tools. The brands partner with these tools via affiliate networks and pay a percentage of commission depending on each sale. When it comes to tools, most of them provide content marketing opportunities and sponsorships for different features on their digital channels. This can help with visibility, traffic and promotion.

A few examples of companies including these types of tools are :

Paypal Honey: It has a browser extension that can alert consumers regarding their potential savings while shopping online. Here, users also get cash back for their purchase and browse additional offers if they had previously activated the extension.

Rakuten: Rakuten, formerly known as eBates, offers cash back to customers on purchases if they had begun their shopping journey from any of their digital platforms. You will also find percentage bonuses in their app or exclusive offers – encouraging them to browse and shop on mobile.

Integrated Digital Coupon Tools & Features 

Credit card, payment and banking platforms usually launch targeted offers for customers by using their first-party spending data. That’s why consumers are often presented with offers when they login to their accounts.

Some examples of companies include:

Chase: The brand has a particular section for showcasing offers on its app or website. Here, consumers can easily opt-in and link the offers to their credit cards so that the offers will be automatically reimbursed instead of manually redeeming them.

PayPal: In PayPal too customers can save on offers and opt-in from the website or app. However, occasionally, the offer may pop up anytime while browsing on partner sites while browsing.

Brand-Owned Digital Tools & Features 

Many good companies provide discounts to their customers by exclusively surfacing offers and coupons to loyalty members. It usually comes as an added perk or benefit for them. Examples of a few brands are as follows.+

Target: In this company, you’ll find a category for Circle members within its app that allows them to save on relevant in-store deals. Target tailors these offers with the help of first-party data and customer purchase history.

Michaels: This brand allows suitable members to save coupons within the app for online or in-store redemption. Earlier, it had only physical coups but now it changed them into digital coupons for attracting new customers.