Coupons are a boon for people who shop online on a daily basis and a lot of shoppers expect coupons, promo codes and deals to be easily available for their next online shopping venture. According to recent research, one in three transactions always involves a promotion or coupon.
In this article, we look at three common misconceptions that surround affiliates and also seek to provide reasons as to why they shouldn’t be taken only at face value:
Myth: Coupon affiliates generally drive value at the last click
A thorough insight regarding how coupon affiliates contribute in earlier stages of the user journey gives marketers better knowledge in relation to the investment they are making. This also helps them plan and strategize accordingly. When a marketer is aware that a coupon is targeting a specified audience, he will automatically find ways to enhance a product and make it more appealing for its users. Coupons have a drastic impact throughout the user journey; however they also provide more value as the final touch point.
Recent data analysis for a top fashion retailer revealed that coupon affiliates tend to appear in the research phase, which is during the middle of a journey. The same data also revealed that coupon publishers were the first as often as they were the last in a consumer’s journey which brings us to the conclusion: coupon publishers appear at the beginning, middle and end.
Another way of understanding the value of working with certain publishers is by looking at the total revenue accrued by the coupon affiliates during the span of the entire user journey.
Myth: Coupons convert those who would have converted either ways
Another seemingly common belief is that consumers spend time searching for a particular product and then spend additional time looking for a coupon that will help them save money. To simply put it in other words, there was always an intention to make a purchase. This probably does happen a lot because shoppers today are well aware of the numerous discounts available online and the myriad ways in which they can acquire a product for the cheapest price.
Coupons, according to research, are a major purchase influencer. They have the strong ability to convince customers to choose one retailer over another. A recent survey suggested that 70 percent of internet users from the USA based their purchase decisions on coupons and discounts.
Myth: Coupons don’t work for luxury brands
Many reports suggest that digital is one of the vital aspects when it comes to luxury growth; there’s no denying that, considering digital technology is taking over today. As a result, this has driven many luxury brands to deeply understand the aspect of purchase as well as connecting the dots between online research and offline transactions.
The word “Digital” includes a number of channels, coupon partnerships being one of the primary ways in which luxury brands can access several digital opportunities. Some Luxury retailers are apprehensive about coupon programs for many reasons; they believe that luxury brand shoppers don’t really use coupons and secondly, the standard of the brand will deteriorate by appearing on coupon sites.
However in reality, luxury brand shoppers, like ordinary consumers, look to maximize the value of their purchase with the help of coupons. This in turn brings us to the conclusion that all consumers, irrespective of the kind of purchases they make, are essentially very price savvy.
If you’re on the lookout for a good affiliate marketing program to help drive your sales, DCMnetwork is the place to be. By far the best in MENA and noted for having popular affiliate programs with reputed brands like Souq, Wadi and Zomato, you can be assured of not having any issues. If you do in fact, have any queries, we would be happy to get in touch, so don’t hesitate to contact us.