8 Benefits of Running a Coupon Based Affiliate Program for WooCommerce
Running a coupon-based affiliate program for WooCommerce is an innovative approach, and has many benefits when compared to more traditional affiliate marketing.
Unlike standard affiliate programs where partners earn a commission from sales generated through referral links, a coupon-based system revolves primarily around unique discount codes.
Affiliates share their unique codes with their audience, offering exclusive discounts on products or services.
This approach not only incentivizes purchases but also provides a more straightforward and reliable tracking mechanism for affiliate performance.
In this article, we’ll explore 8 benefits of integrating a coupon-based affiliate program into your WooCommerce platform with the Coupon Affiliates plugin, highlighting how it can enhance your marketing strategy, increase sales, and foster stronger affiliate relationships.
1. Better Tracking Accuracy
With coupon codes, tracking the effectiveness of affiliate campaigns and ensuring your affiliates are properly rewarded for their efforts is more accurate and reliable. It is often much less prone to fraud too.
Each coupon code is unique and easily traceable, allowing for more precise tracking of affiliate performance and sales impact, compared to link-based tracking which can be affected by factors like cookie expiration, ad blocking tools, or link manipulation.
2. Increases Conversions
Affiliate campaigns can significantly boost your conversion rates, especially when employing coupon-based strategies.
Today, users encounter countless pieces of information on a daily basis, and it can be difficult for them to choose a brand or product to purchase.
However, they are likely to base their decisions on recommendations of someone they already trust. And, this does not necessarily have to be one of their friends or family members! A blogger, influencer, or content creator can also do the trick.
Coupons offered through these trusted affiliates add a compelling incentive, making it more likely for consumers to commit to a purchase. This approach effectively combines the trust in the recommender with the immediate benefit of a discount, leading to higher conversion rates.
3. Enhanced Customer Loyalty
Coupon-based affiliate programs can foster stronger customer loyalty than traditional link-based programs.
When customers receive and use discount coupons, they feel a sense of exclusivity and value, encouraging repeat purchases and long-term engagement with your brand.
4. It’s A Low-Risk Sales Strategy
Coupon-based affiliate programs are low-risks strategies because it does not involve you having to hire a full-scale marketing and sales team.
Instead, you can select the affiliate marketers who are the most advantageous to you and only pay them a percentage of the sale – after the sale has already happened!
5. Involves Minimal Costs
A coupon-based affiliate program is an economical choice for businesses with limited marketing budgets.
Rather than investing heavily in elaborate marketing strategies or hiring a full-scale marketing team, affiliates promote your products within their content, seamlessly integrating the coupon offers.
This approach reduces the need for expensive advertising or marketing teams, keeping both setup and ongoing costs low. Initially, time is spent building relationships with affiliates, but once trust is established, you can divert resources to other business growth strategies.
6. High Return on Investment
As we have seen above, your affiliate marketing strategy will not require great budgets to be successful.
However, it can also yield an impressive return on investment! There is no doubt that you have created your products to be successful and appealing, but without the right marketing and sales strategy, you are not likely to see an ROI.
A well-crafted affiliate program can help you achieve just that.
Compared to marketing strategies that use ads, content paid partnerships, and visuals, affiliate marketing can keep your overhead costs low while helping you achieve the sales results you had hoped for.
7. Handpick Your Sales Team
One of the main benefits of affiliate marketing is the fact that it allows you to target your audience specifically.
By handpicking your affiliates, you will be able to ensure that your brand is promoted well and within their communities – which are already receptive and interested in your product.
8. It Is Easily Scalable
Affiliate marketing, particularly when incorporating coupons, scales effortlessly with your business growth.
This approach, requiring minimal costs and effort, integrates seamlessly with other marketing or sales strategies, enhancing scalability and adaptability as your business expands.
How to Setup Your Coupon Affiliate Program:
Our plugin, Coupon Affiliates, is a great way to setup a coupon based affiliate program for your WooCommerce website.
It offers all the tools needed to setup an affiliate registration & approval process, generate coupon codes for your affiliates, and allow them to track their sales, commission, and other useful analytics.
Your affiliates can also keep track of their unpaid commission, and automatically pay them via Stripe, PayPal or Store Credit.
As the store owner, you have full control over your affiliate program. Generate admin reports, approve registrations, manage payouts, enable email notifications, and customise all the other plugin settings exactly to your requirements.
To learn more about the Coupon Affiliates plugin, click here or start your free 7 day trial now.
Elliot Sowersby is a WordPress developer from Yorkshire, United Kingdom. He is the founder and lead developer of Coupon Affiliates and RelyWP.
Leave a Reply