I used a new app from mobiQpons yesterday and color me impressed.
The way it works is you install their iPhone, Android or Blackberry app (no signup required, just load the app) and when location services on the device is turned on you will get notifications of merchants offering coupons or promotions in your area. Merchants have to be signed up for the service in order for their promotions to run through the network but that’s not surprising.
From what I can gather the only time that mobiQpons gets paid is when a coupon is redeemed by a customer. This is good because it’s true performance based advertising but it has a potential downside if the merchant in question already has a pretty good online promotion capability, in which case advertising that would normally reach the customer through free channels, like email, will be shifted to the mobiQpons service in which case the merchant is paying not just for the value of the coupon but the fee to the network as well.
It is still a great convenience and I love the fact that the geolocation capabilities filters out the offers that are available to me based on my physical location. Despite the strength of the product and service offering, the key execution variable for mobiQpons will be their ability to promote their merchant partners and for their merchants to promote their mobiQpons offerings… I found out about the service not from a tech blog, press release or the tech press but because Sigonas Market emailed me about it as part of their normal customer outreach. I probably would not have taken the time to download and try out this app were it not for a merchant I already rely upon endorsing it.