Unlocking New Partner Types in Affiliate Marketing: The Power of Coupon Codes
In the dynamic landscape of affiliate marketing, staying ahead requires innovation. One such game-changing tool is the beloved coupon code. In this blog post, we'll explore the impact of coupon codes in affiliate marketing and how they open up opportunities for brands to collaborate with influencers on Squaredance. Let's dive in!
In the dynamic landscape of affiliate marketing, staying ahead requires innovation. One such game-changing tool is the beloved coupon code. In this blog post, we'll explore the impact of coupon codes in affiliate marketing and how they open up opportunities for brands to collaborate with influencers on Squaredance. Let's dive in!
Understanding Coupon Codes: A Brief Overview
Coupon codes have a lot of different names - discount codes, vouchers, offer codes, gift codes, redemption codes, savings codes, referral codes, deals, coupons, rewards, etc. - but they are all essentially the same thing: alphanumeric strings that customers can enter at checkout to receive discounts. In affiliate marketing, these codes are crucial in tracking and attributing sales to specific affiliates, including influencers and publishers.
The Problem with most Affiliate Codes
Many affiliate networks feature coupon code sites, which gather discount offers from various sites online. Although customers like it because they save money on their orders, this often doesn’t align with what companies are trying to accomplish, as coupon codes are usually intended to help get potential customers over the hump to make a purchase, not to give every customer a discount.
This creates unfair expectations and a poor shopping experience, as customers then expect to get a discount every time they shop with that company, often hurting customer lifetime value and brand loyalty.
Squaredance Does Coupon Codes Differently
Squaredance’s affiliate network does not include coupon code aggregators. Instead, we focus on high-quality affiliates that consist of paid media buyers, publishers, and influencers/content creators. This helps to prevent your coupon codes from being misused.
And while paid media buyers and publishers can easily track their sales and progress through direct links, influencers are creating content on social media, which often doesn’t allow them to use direct links.
Enter coupon codes.
Coupon codes profoundly impact the involvement of influencers in marketing campaigns by:
- Incentivizing Action: Coupon codes incentivize influencers to promote products. Followers are motivated to purchase knowing they can enjoy a special discount, creating a win-win scenario for the influencer and the brand.
- Measurable Performance: With unique coupon codes assigned to each influencer, brands can precisely track the performance of each campaign. This data-driven approach enables brands to allocate resources effectively and optimize collaborations for maximum impact.
- Enhanced Trust and Credibility: An influencer’s endorsement carries weight with their audience. Influencers sharing exclusive coupon codes - instead of a generic code - add authenticity to the promotion, building trust and credibility among followers.
How to Leverage Coupon Codes on Squaredance
1. Connect Your Shopify Store: Seamlessly link your Shopify store to Squaredance in seconds.
2. Import Your Coupon Codes: Select your existing coupon codes from Shopify.
3. Set Payouts: Define payouts for each coupon code to align with your business objectives.
4. Publish on Squaredance: Share your coupons directly on Squaredance for all approved affiliates to access.
5. Affiliate Code Generation: Approved affiliates can generate their unique codes on Squaredance, simplifying the process and ensuring accurate sales attribution.
6. Activation Alerts: Brands get an alert every time a new coupon code has been generated, making it easy to monitor.
7. Managed Payouts: Squaredance takes care of all payouts, so brands can focus on growing their business, and affiliates, including influencers, get paid on time.
8. Onboard Your Existing Influencers: easily refer your existing influencers to join your Squaredance campaign, and you’ll earn 1% of every sale they generate for the first 12 months!
Coupon codes are a dynamic force in affiliate marketing, unlocking new collaboration opportunities with influencers and content creators.
On Squaredance, leveraging this feature is a straightforward process that can elevate your affiliate marketing strategy to new heights.
Explore the potential of coupon codes today and witness the transformative impact on your affiliate marketing campaigns.
