Unauthorized coupons cost merchants millions. Coupon Detective from clean.io provides detailed data on where coupons originate, usage level and potential lost revenue.
BALTIMORE - October 19, 2022 - (Newswire.com)
clean.io, a leading digital engagement security platform, announces it is launching its Coupon Detective tool at no cost to merchants, which provides a detailed report on coupons — where they originated, how often they're used, and the potential revenue lost via third-party sources.
Both shoppers and retailers alike love coupons for the savings they provide and the new shoppers and knowledge coupons yield; the exception is when coupons are leaked by third-party extensions or deal sites, which have shown to cost businesses up to one-third or more of their sales and disrupt marketing partnerships.
"clean.io's Coupon Detective report shows the problem, why it's bad, and proves it with statistics from your customer management system," said Geoff Stupay, CEO of clean.io. "We are providing this report for free because many merchants don't know how large an issue it is. If we can raise awareness around the problem, we are helping these companies in a meaningful way. We are well-positioned to help them solve the problem once they understand the potential impact on their business."
Most shoppers understand how coupons work when shopping on retailer websites. Consumers receive a code via email or another source, type it in at checkout, and get their discount. On the merchants' side, retailers earn a sale and some insight or data on how well advertising or affiliate programs reach consumers. However, online deal sites like retailmenot.com and third-party extensions like Honey scrape every coupon code they can find and hand them out to shoppers who weren't the intended recipients. The discounts are applied via browser extensions or copied over from deal sites, resulting in revenue misattribution.
For the retailer, this promo abuse cuts into sales and eats up profit margins. Misattribution also makes it impossible for the retailer to determine if its customer acquisition programs, like influencer marketing or affiliate partnerships, actually work. As a result, retailers pay erroneous commissions or invest further in unsuccessful marketing efforts.
"E-commerce merchants are losing significant revenue and misattributing consumer sales because of excessive and improper use of coupon codes through third parties like Honey, Capital One and RetailMeNot," said Stupay. "This may seem like a minor issue, but for e-commerce merchants, this could mean losing 10% to 20% margin on every sale or wasteful spending on promotions, campaigns and affiliate partnerships that are not as fruitful as they seem."
clean.io is the developer of cleanCART, software designed to help merchants block the injection of unauthorized coupon codes that are being misused, protecting revenue, advertising and affiliate relationships. However, most merchants are unaware of the scope of the problem because identifying those unauthorized coupon injections is complex, and tracking the lost revenue is even more challenging.
According to Stupay, "statistics show clean.io's coupon injection solution, cleanCART, provides a 3% average increase in conversion rate and an average 1,452% increase in merchant return on investment in the first 30 days and is guaranteed to pay for itself within 90 days."
To sign up for the free Coupon Detective report, visit this link, and to learn more about the company's tools to protect e-commerce merchants, visit clean.io.
Contact Information:
Charlie Terenzio
[email protected]
Press Release Service by Newswire.com
Original Source: clean.io Launches Free 'Coupon Detective' Report for E-commerce Merchants