First true omnichannel delivery of single-use digital coupons across retailers
Vericast is the first marketing solutions company to launch a Universal Coupon solution with store-level redemption insights, precise consumer targeting, and scalable reach. This unmatched combination of capabilities creates new, diverse promotional strategies and distribution opportunities for brands and retailers through Vericast’s national digital and print media solutions.
Vericast’s Universal Coupon solution leverages a new digital format designed to offer consumers more freedom of choice to use coupons on their mobile devices at any participating retailer. It is a more secure, traceable format for manufacturers and retailers. The company will deliver Universal Digital Coupons on behalf of clients through an extensive digital marketing portfolio, including display and video advertising, dynamic mobile, connected TV, and other solutions. Further, Vericast Universal Coupon campaigns benefit from real-time coupon redemption data and can be adjusted to optimize delivery of targeted media for improved response.
Unlike competitors, Vericast’s Universal Coupon solution integrates predictive intelligence with its award-winning Vericast Consumer Graph™, which unifies vast amounts of data to provide a heightened understanding of consumer behavior and precision targeting. The Consumer Graph ties devices and associated behavioral data to a base map of over 120 million U.S. households. It also makes seven trillion daily model calculations to improve audience intent, engagement, and results, as well as syncs data throughout the platform to continuously learn from one campaign to the next.
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Featuring a new serialized “8112” barcode, the digital coupon is scanned and validated by participating retailers through a centralized system at the point-of-sale. Vericast’s early adoption and influence in shaping the Universal Coupon standard last year will enable consumer packaged goods companies to begin test campaigns in Q2 this year in alignment with retailer acceptance.
“Vericast is a pioneer in coupon marketing and distribution, and a trusted source among thousands of brands and retailers over several decades,” said Michelle Engle, Chief Product Officer at Vericast. “As a leading coupon distributor and processor, we have the scale and reach to expand the omnichannel marketing power of digital offers with the new Universal Coupon standard, while reducing fraud, improving accuracy, and creating a positive consumer experience.”
Vericast is working with FOBI AI, a leader in providing real-time data analytics through artificial intelligence, to supply the backend infrastructure for its Universal Coupon solution.
As adoption of Universal Coupons grows, Vericast plans to offer consumers downloadable Universal Coupons on its Save.com website, an online resource for deals, savings and lifestyle hacks. According to Vericast’s 2021 Deals & Coupons Report, consumers are hungry for coupons, discounts and deals:
- 60% of shoppers are looking for more coupons, discounts and deals to offset higher prices across shopping categories such as apparel, groceries and dining
- 57% of people say that deals have a significant influence on their purchase decisions
- 40% of consumers feel more positively toward brands that offer discounts or coupons, 30% will be more loyal to that brand, and 39% are more likely to make a repeat purchase
The first Universal Coupon will be delivered digitally and is intended to be viable in any medium, including paper. It is expected to extend Vericast’s reach and strengthen its Save portfolio, which includes Save direct mail and Save FSI. Vericast’s Save direct mail delivers meaningful savings and valuable offers from thousands of brands to over 75 million households and families each week.
New Universal Coupon Standard
The Universal Coupon standard was developed by The Coupon Bureau, an independent, non-profit organization working with the Association of Coupon Professionals.
“We’ve worked with the industry to create this new standard to address some of the biggest coupon challenges faced by manufacturers and retailers alike. The solution seeks to mitigate fraud, improve accuracy as well as delight the shopper,” said Brandi Johnson, CEO of The Coupon Bureau. “As a result, serialized AI 8112 coupons are revolutionizing the way we can apply coupons to the overall customer experience. Wide adoption is coming, and Vericast’s innovation and support in developing the standard will help lay the groundwork for making coupons a true omnichannel marketing tool.”
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