In marketing, a coupon is a ticket or document that can be redeemed for a financial discount or rebate when purchasing a product.
Customarily, coupons are issued by manufacturers of consumer packaged goods or by retailers, to be used in retail stores as a part of sales promotions. They are often widely distributed through mail, coupon envelopes, magazines, newspapers, the Internet (social media, email newsletter), directly from the retailer, and mobile devices such as cell phones.
The New York Times reported "more than 900 manufacturers' coupons were distributed" per household, and that "the United States Department of Agriculture estimates that four families in five use coupons. "Only about 4 percent" of coupons received were redeemed. Coupons can be targeted selectively to regional markets in which price competition is great.
The impact of AI has just been felt crosswise over online client service ventures, with machines improving client corporations worldwide with the moment, amicable assistance accessible for some organizations through natural chatbots. Presently we’re starting to perceive how it’s set to shape the coupons advertise in the coming years.
AI can predict who is actually worth targeting
The challenge is to predict which customer will return after using the coupon. You should aim for those that return and become a long term customer. With the right setup Machine Learning can also help you to find out what defines those special shoppers. Once you trained the system the right way, you can focus only those segments.