Discount and voucher affiliates are among the best-performing in any typical affiliate program. A common misconception, however, is that working with these affiliate types means sacrificing margin on sales that would have occurred anyway. In this article we explore a few ways to reap the benefits of working with these top publishers while protecting margin and even increasing basket values.
You don’t have to offer a discount to work with a voucher site
While this may seem counterintuitive, it’s true! If profit margin is a concern, or you are a brand that just does not discount, work with your affiliate partners to identify other incentives that you can offer a customer, or benefits you can highlight. Do you offer free shipping and returns? If not, could you offer a code for new customers to enjoy free shipping on their first purchase, for example? ‘Free shipping when you spend over £X’ is a really good mechanism to increase basket value in and of itself, and definitely messaging you should be sharing with your voucher affiliates.
Set offer terms to ensure that basket value increases
If you are able to offer a discount, then an effective way of increasing revenue is to include spend and save terms. For example, if the average order value on your site is £60, incentivise with an offer such as £10 off when you spend £80 or more. Customers are more likely to increase their basket value to reach a minimum spend threshold to unlock a deal.
Incentivise with a gift card
Rather than offering a discount, you can partner with a gift card solution to offer a gift card when spending £X or more. This could be a gift card for future purchases with you further down the line, (which can also be linked to a minimum spend), or you could select a relevant brand that you think would resonate well with your audience. For example, if you are an insurance company looking to incentivise someone to purchase car insurance, you could offer a £20 Halfords gift card when you take out a valid policy. All of the gift card fulfilment is handled by the affiliate partner, requiring minimal setup for clients.
Offer exclusives to new customers
If new customer acquisition is a focus, you can work with your affiliate partners to stipulate that certain offers or vouchers are only redeemable by new customers, ensuring that you are only offering discounts to those who will help to increase your customer base. If you offer a discount for new customers on your website (e.g. sign up to our mailing list for 10% off), it’s worth sharing this with your voucher affiliates as it’s an incentive for potential new customers without the need for additional discount codes to be created on your side.
Working with voucher sites can play a really significant role in driving revenue for your affiliate program, so it’s good to have a range of strategies at your disposal to ensure you’re making the most of the channel. If you’d like to find out more about affiliate marketing and how we can help you launch or grow a program, don’t hesitate to get in touch.