If you’re interested in earning an income from affiliate marketing, coupons are a great option. As any commerce expert will tell you, discount codes can be highly effective at getting consumers to make a purchase.
In fact, the mere presence of a coupon leads to an average increase of $40 in spending among 75% of customers. And as long as the provider is offering at least 30% off, around two-thirds of people will switch to that brand. It’s no secret that we love coupons. The massive success of websites like Slickdeals and Rakuten prove it.
So, how can you cash in on the craze and start making money from sharing online coupon codes? Read on to find out.
First, it’s important to know how a standard affiliate marketing arrangement works. Put simply, you partner with a brand and agree to promote them using your website or sphere of influence.
The key tool in this process is typically an affiliate link or promo code that’s tied to you in some manner, thus making it easy to validate when you should be credited for a sale.
Where coupon affiliate marketing primarily differs is that instead of having one-to-one arrangements, the brand works with an affiliate network. This applies both when you are the brand and it is coupons for your own website that you want to be promoting, as well as when you want to promote coupons for other websites that you are an affiliate for.
Coupon Affiliate Sites
From here, we assume that you’ll be working with coupon affiliate sites, either to promote your own coupons or those for other brands. Keep in mind that in the latter case, it might be better to offer coupons on your own website, in which case you’ll need a responsive coupon plugin for WordPress and a steady stream of traffic reaching your site.
If you don’t have the latter or even a website, then you’ll want to work with an affiliate network. A few sites in this space include CJ Affiliate, ShareASale, Impact Radius and Pepperjam Network among others. The best site for you depends on your niche and target market. You can always experiment on different sites to determine where to invest your time.
Before you start signing up with every promising affiliate network, there are few guidelines to keep in mind. This includes the nature of your coupons. Remember that the industry is huge and you need a compelling offer to stand out. If you’re promoting your own product, you’ll need to figure out what kind of discounts would get people through the door. It’s also better to work with a few good affiliate sites than many bad ones, so do your research.
Another way to promote coupons is through influencers. Social media stars tend to appear more genuine and convincing to their fans. Be sure to consider it if your products are for a younger audience.
Of course, successful coupon marketing is less simple than it seems. But with enough time and determination, you can turn it into a lucrative business.