Study: Mobile coupons to explode by 2016

As the general public's wallet tightens, the appeal of customized bargains via mobile phones has become an area of mobile marketing that shows increased potential for growth.

A recent Juniper Research study predicted that by 2016, the redemption value of mobile coupons will exceed $43 billion globally - a marked increase over the $5.4 billion redeemed this year.

Researchers make this prediction because of mobile coupons' role intertwined between ads, payments and loyalty offers. They also suggest that the coupons can be used in tandem with near field communication technology at brick-and-mortar locations to offer deals at specific locations.

Geo-location targeting technology is also on the rise, and retailers are now able to use not only location, but lifestyle, work pattern and social network activity to maximize their marketing efforts.

"Mobile coupons are going mainstream," said report author David Snow. "Most effective mobile coupon campaigns are now within the reach of smaller retailers providing them with an easy way to … build customer loyalty."

Mobile Entertainment notes that some companies - such as U.K. mobile voucher specialists Eagle Eye - are looking to take advantage of this burgeoning field with chip and pin "ecosystems" for coupon redemption.