CoolSavings Granted Patent

Posted on by Chief Marketer Staff

CoolSavings, a leader in Internet couponing, has just received a U.S. patent for its online couponing service designed to protect customer anonymity.

“The patented CoolSavings program acts as a target marketing tool for advertisers and a privacy advocate for consumers,” says Steven M. Golden, the company’s chairman and ceo.

The patent protection will “significantly enhance our position as a provider of targeted Internet coupons,” says Golden.

Even though it shields the privacy of users, the CoolSavings system allows advertisers to target consumers on the basis of household characteristics and purchasing patterns. The system also allows advertisers to limit the number of the total number of coupons distributed to prevent oversaturation.

The patent should give a boost to the CoolSavings brand and act as a significant barrier to entry for any current or future competitors, Golden says.

Besides offering traditional coupons, the site builds store traffic through contests and retailer promotions. For example, H&R Block recently posted a $25-off coupon on tax preparation accompanied by a trivia contest with a $5,000 grand prize. Out of the first 6,000 contestants, 4,000 downloaded the coupon.

“In short, CoolSavings is a search engine for savings,” Golden says.

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