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Guest Column: Receipt Coupons And E-Coupons-Strategies For Security
By Ray Martin, Xstore Java POS and Relate Retail CRM; Scott Matza, XBR Analytics; and Sean Manion, MICROS-Retail
Coupons are an important marketing tool for both retailers and manufacturers. When triggered by a customer purchase (‘bounce back') the coupon's effectiveness is enhanced in two significant ways. First the offer is targeted based on a known behavior and is therefore more relevant to the customer. Second, the coupon is given directly to a known customer. Studies show that a recent customer has the highest propensity to purchase again in the near future. So what is the bad news? Coupon fraud, which The Coupon Information Corp. estimates at more than $500 million annually. Consider some practical advice to minimize fraud before launching any new coupon program.
Start by consulting with your loss prevention department. They are familiar with your business processes and can help you avoid costly errors. For example, if your sales associate reprints a receipt, does the identical coupon print out as well? An option would be to modify the reprint so that it cannot be redeemed. Would the receipt coupon be easy to recreate using image manipulation software on a home computer? An industrious thief can easily attach a receipt printer to his home computer and make many plausible-looking coupons.
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