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In 2024, most of us are trying to find ways to save on household bills and consumer goods. And it’s one of the reasons why coupon affiliate marketing is such a popular marketing tool.
Estimates suggest over 31 billion e-coupons were redeemed in 2019. And the use of coupons is only increasing.
But what makes coupon affiliate marketing so good for businesses and the affiliates who carry out promotions on their behalf?
We’ll explain more in this post. But we’ll also show you how to use coupon affiliate marketing to improve your next marketing strategy.
What Is Coupon Affiliate Marketing?
Coupon affiliate marketing is a way of connecting brands with affiliate marketers who’ll promote them, on their behalf, using coupon-related offers. Affiliates take a commission on the sales they generate. And a Cost-Per-Acquisition model (CPA) motivates them to drive interest in the brands they serve.
Voucher and coupon marketing also enables better audience targeting. And it drives site traffic by enticing customers with offers and discounts.
When Was the First Coupon Made?
Back in the late 1800s, American businessman, Asa Candler came up with the idea of offering a free sample for a then under-the-radar beverage named Coca-Cola. In the years that followed, brand awareness skyrocketed as millions took a free taste. And it created the groundwork for their future success.
What are The Different Types of Coupon Affiliate Marketing?
With the rising popularity of eCommerce, people are connecting with coupon affiliate programs in a variety of ways:
- Influencers: Influencer affiliate marketing is a very popular way to drive conversions. And it can drive affiliate marketing campaigns into higher realms of customer engagement.
- SMB affiliates who use coupons: Smaller businesses that operate within a specific niche can help to drive sales as coupon affiliate marketers.
- Bloggers: Small or large bloggers that provide in-depth reviews and testimonials for your products are usually great affiliate partners to work with.
- Coupon Marketplace Sites: Consumers can browse dedicated coupon marketplace sites for the latest deals. Rakuten, Groupon and Swagbucks are some of the better-known coupon sites. And businesses will use these sites as their affiliate marketers.
- Coupon Affiliate Marketing Networks: Many marketplace sites also act as marketing networks that connect brands with the most appropriate affiliate programmes available.
- Curated, Cash-Back and Coupon Forum Sites: Various sites help to incentive audiences by using coupon affiliate marketing to drive sales.
7 Reasons Why it’s a Good Idea to Do Coupon Affiliate Marketing
So why is it a brilliant idea to include coupon affiliate marketing in your next strategy?
Here are some of the best reasons around.
1. Coupons Attract New and Old Customers
Coupons are an effective way to drive brand awareness and conversions. Close to 40% of customers said they bought from a brand because a coupon offer motivated them to do so.
But it’s also powerful for retargeting old customers since almost 20% said they went back to a brand because of a coupon.
2. Coupons Drive Higher Revenues
Statistics show that businesses who work with affiliate networks increase revenues by as much as 20%.
And almost 50% of consumers said they were more likely to buy something sooner when they had a coupon or voucher.
3. Customers are More Likely to Choose a Brand Over Competitors
Coupons act as a way to incentivise one brand over another. And affiliate marketing coupon codes can encourage customers to try a new brand instead.
When aligned with an effective strategy that protects a company’s brand, affiliate marketers may find that coupon offers pull new customers away from competitors and towards their offers.
And this can go a long way towards increasing commission levels and affiliate earnings.
4. Coupons Help to Build Email Marketing Lists
Email marketing is a bread-and-butter marketing channel for most businesses. But building a subscriber base takes time and persistence.
Marketers can use affiliate marketing coupons to incentivise new subscribers and boost sign-ups. In exchange for a discount, marketers can capture email addresses and grow their customer base.
5. Coupons Increase Personalisation and Conversions
By tailoring offers to the needs of a specific group, affiliate marketing coupon codes can help with targeting customers. As many as 80% of frequent customers say they only shop with brands that personalise their experience.
And while personalisation means different things to different people, coupon personalisation can boost conversion rates and promote brand loyalty.
6. Coupons Are More Appealing Than Loyalty Schemes
A report from KPMG suggested almost 70% of millennials think loyalty schemes are too hard to join or get a decent amount of rewards from.
But coupon affiliate marketing is a better alternative. It matches the instant, more ephemeral nature of the younger generation’s buying habits and motivates them to try you out before they establish loyalty.
7. They Make it Easier to Track ROI
Tracking referral links to affiliate marketing programmes is much easier with a coupon affiliate dashboard. You may work with several coupon affiliate marketers but you need to understand the impact they’re driving for your business. Otherwise, how will you know if they’re worth their commission payments? Dashboards can help to stay on top of this.
More Shoppers Online = More Coupon Affiliate Marketing
Many eCommerce retailers are benefitting from the use of coupons to drive traffic and inform their marketing strategies. And with more people going online to buy, they’re looking for coupons with great offers. So, it’s coupon affiliate marketers that can double-up on these rewards and keep customers coming.
In the end, whether you’re an affiliate marketer or a business owner, the key to success with affiliate marketing lies in building strong relationships.
The Coupon Affiliates plugin for WooCommerce is one of the best ways to manage an effective coupon affiliate marketing program. With its helpful dashboard and management tools, it makes affiliate marketing management simple.
Start your free 7 day trial now and see how it improves your affiliate marketing strategy.
Mike King is a content writer and consultant at Contentar. He specialises in writing about digital marketing, eCommerce, app development, and assistive technology.