What is Coupon Marketing?
How to Devise and Implement a Successful Coupon Marketing Strategy
Create Coupons to Suit the Season
Track Conversion Rates
Online Coupon Marketing: Considerations
How To Run a Successful Coupon Affiliate Strategy
Where are coupon affiliates located in the Conversion Funnel?
Common Misconceptions about Coupon Affiliates
Below is a list of frequently asked questions by advertisers, with their associated answers:
Q: I am concerned I will train customers to wait for a discount. Will this be the case if I start working with coupon sites?
A: It is not necessary to have coupon codes all year round. If changing customer behaviour is a concern, we would recommend creating coupon codes at different times of the year with no clear patterns, so consumers will not be able to discern when the next discount will be on offer.
Q: My program is focused on new customers. Will coupon sites be able to help with this?
A: Consumers tend to break their shopping patterns to get the best price for a product. A coupon can help attract new customers(6) . Most coupon sites have big databases and social media followings that can be used to reach new audiences. Some of our affiliates are driving more than 60% of new customer orders for specific advertisers on the network.
Q: Will coupon affiliates cannibalise sales that I would have received anyway?
A: 76% of customers abandon the shopping cart. The most common reason is that the extra cost for shipping is too high(7). If these customers find the product cheaper with a competitor offering a coupon code for free shipping, that customer can be lost to the competition.
Q: Will coupon affiliates take sales off other affiliates on my program? Specifically, content sites?
A: Commission Factory tracks in-program attribution, which can be used to keep an eye on this. We would suggest working with a few select coupon sites for a three-month period and then analysing the results.
Q: We cannot afford to pay the commission rate as well as give a discount. Will this eat into my margins?
A: Commission is paid on the discounted price. If margins are a concern, we would recommend setting up a coupon code with minimum spend or product/category exclusions. Alternatively, a bespoke commission rate can be discussed with the coupon affiliates.
Q: Will coupon sites add value to my affiliate program?
A: Coupon users are typically affluent, young and educated – a target group you might want to build a relationship with early on. Working with coupon sites is an effective way to increase the average order value (AOV) of the affiliate program by setting up coupons with a maximum spend higher than the current program AOV. Coupon sites can also help clear old inventory.
Q: We are very brand conscious and do not want to be seen as a cheap brand. Will working with coupon sites hurt the brand image?
A: Working with coupon sites does not mean offering coupon codes all year round. Coupon codes should be created for a specific purpose, such as getting rid of old inventory or last season’s stock. Additionally, a lot of coupon sites offer content pieces rather than just listing codes or promotions. Coupon sites spend a lot of time improving their SEO rankings. Being featured in one of their content pieces can drive additional traffic to your site.
Q: Will I lose control over the volume coming through for discounted sales if I opened the program up to coupon sites?
A: Most of the more established coupon sites have the functionality to promote unique codes, which have a one-time use. This ensures that a code can only be used once, even if it goes viral. We recommend supplying the affiliate with a set number of unique codes you feel comfortable with.
Deep Dive into Different Coupon Affiliate Strategies
Before assessing different strategies, advertisers should check that coupon data is being passed back to Commission Factory through the tracking pixel. This allows for better insight into the impact of the coupon strategy and enables our clickless code feature, which we will look at in more detail below. We recommend aligning the overall business goals with the coupon strategy for the best impact.
1. Selecting Coupon Affiliates to Work Closely With
2. Offering Exclusive Codes to Affiliates
3. Affiliate Coupon Sites and Paid Search Campaigns
4. Incorporating Affiliate Content and Coupon Sites
5. Working with Non-Coupon Affiliates
- Fujitsu, Shopping in the Real World Insight Guide
- The History of Coupons, TIME
- Digital Coupon Marketing – Statistics and Trends [Infographic]
- The Top Retail Pricing Strategies For Your Business.
- Webinar Highlights: Reimagining the Potential of the Coupon Code
- The Impact of Promotional Tools on Consumer Buying Behavior in Retail Market
- 44 Cart Abandonment Rate Statistics