The next topic we studied this week was Mobile Coupons.

In my previous post, I wrote about how JC Penney launched a mobile coupon campaign as a pilot project in Houston, Texas in September, 2009 that involved 16 of their metro stores.

Their customers had to sign up to receive the coupons, and once they did, they could redeem them at the point of sale for a discount without ever having to print them out.  This would avoid forgetting them at home and give the customer more control over their purchase.  In turn, it was a way for JC Penney to tie directly into the end-user experience.

The focus was on retaining customers, and building brand awareness, as well as acquisition of new customers.  JC Penney also wanted to see how the consumer would interact with the coupon and how it would actually work in the store for redemption.  These coupons would be exactly like coupons that would be sent to other consumers via direct mail.

JC Penney expected to reach a younger demographic who are more apt to be avid cell phone users.  Their target demographic would be female, 25 to 44 years old.

They were willing to invest in this trial to see if their redemption rate would be similar to the 10% to 20% that other brands were reporting.

“Do you feel that JC Penney will find success with their “mobile couponing” pilot project?

I was certain that it would be successful enough for them to continue a mobile coupon program, it’s just too easy for the customer since they carry their phone with them everywhere they go.

Further research indicates I was correct, an article published in the Plano Courier Star on February 4, 2010 reports that JC Penney will take advantage of the mobile advertising opportunities and modify their program to include all store locations.  Instead of the 2D scannable image they previously included in the mobile ad, the store clerks will manually enter the coupon code and use new “hot buttons” on the register.

Their provider, Cellfire, reports that “the average redemption rates for paper coupons is about 1%, while the average redemption for a mobile coupon is between 15% and 25%”.  They also reported that “during the five consecutive quarters beginning October 2008, consumer coupon use increased 16.7% and brands issued 367 billion coupons in 2009”.

Do you think “mobile couponing” is a fad or a sign of the times?

Mobile couponing is definitely a sign of the times.  I definitely believe it will be extremely successful.  Reports of success are everywhere.  One recent article titled “What a Girl Wants:  More Mobile Advertising”,  by Jolie O’Dell, cited these statistics for Mobile Advertising:

• 85% use the mobile Internet almost daily.
• 70% expect their mobile Internet usage to increase in the future.
• 84% have noticed mobile advertising, and 57% have clicked on mobile advertising.
• 67% are interested in receiving mobile coupons or vouchers.
• 93% are always on the lookout for bargains.
• 93% like being up-to-date with new technology.

Those are some pretty convincing numbers when it comes to deciding on whether to launch a mobile coupon program!

Additionally, 86% of these women stated they accessed Facebook, Twitter and similar sites with mobile advertising, and you have more than one way to launch your coupons!

More and more online coupon start-ups are popping up.  One I just found from my “hometown’’ in the Tampa Bay area of Florida called “Send Savings.com”  allows mobile users to sign up for coupons and discounts, determine how many times a week they want to receive the offers, and for each time they get one, a donation is made to their favorite charity.  They use text coupons.

Sources:

http://www.dmnews.com/jcpenney-takes-coupons-mobile/article/149790/

http://www.planostar.com/articles/2010/02/04/plano_star-courier/news/148.txt

http://mashable.com/2010/05/05/women-mobile-shopping/

https://sendsavings.com/signup/individual.php

According to the NPP, Taxpayers in Florida will pay $565.9 million for proposed ballistic missile defense in FY2010.

For that same money, Florida could have provided:

9,040 Music and Arts Teachers for One Year
OR 129,412 Scholarships for University Students for One Year
OR 101,968 Students receiving Pell Grants of $5550
OR 4,174 Affordable Housing Units
OR 312,781 Children with Health Care for One Year
OR 77,217 Head Start Places for Children for One Year
OR 9,649 Elementary School Teachers for One Year
OR 397,999 Homes with Renewable Electricity for One Year
OR 199,677 People with Health Care for One Year
OR 13,036 Public Safety Officers for One year

Now, Imagine if only 10% were retained by Florida for it’s citizens:
Florida would keep $56.59 million in FY2010.
For that same money, Florida could provide:
904 Music and Arts Teachers for One Year

OR 12,941 Scholarships for University Students for One Year

OR 10,197 Students receiving Pell Grants of $5550

OR 417 Affordable Housing Units

OR 31,278 Children with Health Care for One Year

OR 7,721 Head Start Places for Children for One Year

OR 965 Elementary School Teachers for One Year

OR 39,800 Homes with Renewable Electricity for One Year

OR 19,968 People with Health Care for One Year

OR 1,304 Public Safety Officers for One year

THAT IS A LOT OF NEW JOBS!

Find out about your State, Congressional District, or Community.  When you look at our tax money at use in this way, it sure does seem that a 10% cut in just one area could made a world of difference for ALL our communities!

Economic hardship has impacted every facet of life – and that is also true for law firms (yes, I know you find that hard to believe, but they are experiencing layoffs as well).  One law firm has stepped up, listened to their clients, and answered a need clients were complaining about.

I read an impressive story that will be published in the Tampa Bay Business Journal’s latest edition. Foley and Lardner, LLP, raised the bar in client satisfaction, and erased the biggest fear of anyone who is thinking of hiring a lawyer.

That fear is about receiving a bill for more than they expected in legal fees.

Its a universal problem – people don’t hire lawyers even when they should, because they do not believe they can afford to.  It’s not just the initial retainer, it’s the fear that once the attorney is retained for a matter, the bill becomes an unknown quantity – a day to day worry that they may have a second legal issue to deal with when they can’t afford to pay their lawyer.

Foley and Lardner, LLP get an A+ in client care, because they LISTENED to their clients, and answered their concern.

In fact, they may create a World Wide Rave as defined by David Meerman Scott in his book of that title.  They gave up control to the client – Rule 3 of the Rave!!   When it comes to billing and budgeting of legal matters, they have successfully taken away the fear of  that big ulgy surprise when their clients open the envelope containing their legal bill every month.

In response to client concerns (this is a concern of ANYONE who hires a lawer for ANY legal matter),  they developed a proprietary software system, part of which allows clients of all 1000 of the lawyers in the firm to interactively share real-time billing information and keep their legal matter on a budget.  Clients can go online anytime and see trending in the billable hours by their lawyer,  and make contact to discuss options for their case BEFORE they go over budget and have yet another legal matter to deal with.

The full story was reported in the Wall Street Journal on Jan 5, 2010.

To be honest, this system does more than just allow the client to manage their legal bills and budget, and that is why it cost $1 Million to put in place.  However, this is a true investment in the firm.  It serves as a management tool, as a client communication tool and as a marketing tool to attract new business!

Smaller firms will say they can’t afford $1Million investment to do the same thing.  They don’t have to.  Small firms can do the same thing, very easily, using much simpler tools.  The real question has always been:  will they come out from behind the curtain on fees and allow the client control?  Will they allow the client to speak honestly and hold them to a budget the client can afford?  If they are smart, they surely will do that – and reap the rewards of (a) honest communications with their clients; and (b) growth of their law practices.

The bar has been raised – let’s see if a precedent in billing practices has now been set,  and which lawyers and law firms creatively  rise to the occasion!

Makes TOTAL sense to me now, thanks Steve Forbes.  I appreciate your honesty, seriously!  You are not just a conservative Republican, you might be one of the few who are willing to stand up and tell the truth about it, and for that I truly admire you.

Good Lord – so, Mr. Forbes lays the blame at the feet of the Government [exactly where I thought it started]  who approved the Fed Reserve’s decision to begin to print lots of cash in 2003, [interesting date, wasn't that when the big battle started for re-election?  Why yes, I believe it would have been] and tosses it into the economy, changing the ‘rules of the road’.  Everything gets out of control and goes sideways.  Greed runs rampant,  pockets are not big enough to carry home all the available cash each week.

However, things are so good, everyone thinks it can never end!  BUT!  Once Bush won re-election, this wild printing party simply continued [let the good times roll!] and ultimately caused destabilizing of the markets.  Investors left the commodities markets, and everyone runs for the real estate market – creating the boom, or the bubble, or as I love to call it the big catastrophe! which is subsequently marked first by the collapse of Bear Stearns – who is rescued; then made worse by a bad decision 48 hours later to allow Lehman Brothers to fold.  Hindsight indicates that was a REALLY bad decision.

Realizing the mistake, they panic and appropriate the big stimulus bucks!  Then they then save the next one in line, and so on, and so on. They scramble to get as much cash as they can to throw it on the fire and try to put it out.    [How convenient that they decide to throw money at the problem just as they are running out of the White House, with the full knowledge they have not only  just destroyed OUR U.S. economy, but also the World Economy ~ who has been busy lending us money hand over fist and buying these bundled mortgages that are guaranteed to fail].

By the time Obama is elected, he is right in the middle of an economic crisis that rivals the Great Depression, with the same type of hecklers!

Well President Obama, I give you a round of applause for staying cool in the VERY worst of times, NONE OF WHICH YOU CREATED!

I appreciate your sound decisions and work to keep us from being eaten alive by the rest of the world.  As much as we are blissfully unaware of how really terrible this has been, I have to say things have sucked quite a bit, but not as much as they could have.  For that, I also say THANK YOU!

However my biggest thanks is for you seeing the opportunity to create great change that can be long lasting – and fighting back against your opponents for what is right for  WE THE PEOPLE!