1. Research other types of apps that rely on smartphone cameras to redeem a sales promotion offer. Explain how they work and how they are similar to and different from SnipSnap.
2. The profitable growth potential for SnipSnap is in the enterprise market where it provides mobile promotion services to retailers. SnipSnap is working with retailers to create and manage geo-conquesting campaigns. Research what this is and create a presentation explaining how it works.
More than 300 billion coupons are distributed each year, with more than 90 percent of them printed on paper. Consumers redeem only about one percent of coupons distributed, often because they clip them but forget to use them in the store. SnipSnap has a solution for consumers. Hailed as the Best Shopping App by About.com and winning Media Post's Apply Awards for Best Finance App, this app has mobilized those paper coupons for consumers. SnipSnap now boasts four million users and more than 50 national retail partners. The app allows consumers to snap a photo of retailers' paper coupons and redeem them at the store. Users can share with friends on Facebook and Twitter and follow others' couponing. SnipSnap is the first mobile app that scans the text, images, logos, and barcodes in printed coupons and creates a mobile coupon. It also sends expiration date reminders and location-based notifications. Retailer Lord & Taylor installed iBeacon technology and partnered with SnipSnap to send shoppers targeted coupons based on where they are in the store. So if you want a good deal on a Michael Kors purse, it knows you are looking at the item and might send you a coupon through the app. SnipSnap employees noticed consumers were snapping pictures of "coupons" they created to send to friends and family that were good for some special treatment, so the company created a spin-off app called GoodFor. Now, if you want to send a special someone a coupon good for a 30-minute massage or your kid a "get out of chores free" coupon, GoodFor allows you to do it.