Some brands have hesitated to include voucher sites in their affiliate programmes due to concerns about potential harm to their brand, lack of incremental revenue, and loss of control over voucher codes. However, our extensive experience managing affiliate programmes for top brands has shown that voucher affiliates can be valuable partners that enhance a brand's performance and contribute to its success.
With all the negative perceptions around vouchers, we often miss the bigger story that vouchers can drive consumer behaviour! One example would be the speed in which a buying decision is made, with 39% of consumers shortening their path to purchase when vouchers were available. And vouchers aren't going away, with the global digital voucher market expected to surpass $29.7 billion by the end of 2031.
With this in mind, vouchers could be a key affiliate strategy to add to your partnership marketing programme going into 2023.
Like all affiliate partners, the key to a successful relationship is being clearly aligned on goals and KPIs, expectations, and employing an agency with the ability to carefully monitor and help course-correct when needed.
It's also important to not take a one-size-fits-all approach to any partner type. Each partner and their capabilities should always be looked at individually and in connection with a brand's unique goals.
Why brands are turning toward vouchers in our current economy
Despite the recent holidays producing exceptional sales and increased revenue for many advertisers, global economic activity is still experiencing a slowdown, with inflation higher than what's been seen in several decades for many countries. Consumers are wanting to spend money, but they're savvier and more eager to cut costs where they can.
As a result, we've seen significant growth from voucher partners (and other traditional affiliates). From January to September 2022, Acceleration Partners saw voucher, loyalty and deal affiliates increase revenue 35% YoY for our clients, and increase actions 55% YoY.
By leveraging a voucher affiliate, your brand can:
- Attract cautious, savvy consumers to your product or service
- Incentivise or compel a purchase that might otherwise be passed on
- Move outdated inventory through vouchers on specific products or categories
- Increase your conversion rates and entice new customers for a future purchase
Consumers know prices are increasing and with an urgent promotion or offer, they will be more likely to convert at that moment instead of waiting for the item to go on sale or for a competitor to offer a better price.
Read our blog to discover strategies for creating a profitable voucher campaign.
How voucher partners are adding value to affiliate programmes
In addition to contributing to your brand's ability to meet the wants and needs of customers in our current economic climate, here are some additional ways voucher partners can contribute significant value via an affiliate programme:
- Increase on-site conversions
- Increase brand awareness
- Facilitate impulse buys
- Promote up-to-date offers
- Offer a variety of placements
- Integrate easily into your programme
- Coordinate trademark plus search
- Increase average order value
- Scale your affiliate programme swiftly
- Gain advantages over competitors
Besides finding the right voucher partner fit for your unique brand, it's also vital that your partnership is effectively and carefully managed. Below are just three examples of strategies Acceleration Partners (AP) implements.
- Proactive partner management. Your affiliate team should work closely with your voucher partners to build a strategy tailored to your brand and programme – frequent and clear communication is a must.
- Lean on partnership experts. AP has an in-house Publisher Development team dedicated to finding you the right partner fit. Our internal teams are selective when it comes to our voucher partners, and work with voucher sites that have a proven history of success and compliance.
- Create a strategy in alignment with goals. From the beginning of any partnership, your strategy with your voucher partner should align with your business goals. This will allow your agency partner to make educated decisions, optimise your campaigns, negotiate high-value placements and promotions, and establish relevant metrics to track and measure.
Proven voucher partner success
Voucher affiliates are an efficient way for brands to feature special deals and promotions, drive traffic to their site, and increase on-site conversions. They are a traditional affiliate that should not be overlooked when building a well-rounded affiliate programme. But don't just take our word for it – let's take a look at how some voucher partners have benefited our clients.
How Exclusivity and Savvy Strategy Helped Blurb Raise ROAS and Increase Incremental Sales
AP strategically onboarded voucher partners into Blurb's affiliate programme to drive incremental sales from new customers and cost-effectively help the brand realise impressive ROAS.
- 361% of revenue projection reached
- 30% of orders generated by voucher partners
- 50% ROAS increase for some partners
CouponFollow Increases Revenue +37% For Brands From Diverse Verticals
Acceleration Partners and affiliate CouponFollow created an innovative a Back-to-School newsletter to help AP clients increase revenue while offering an easy point-of-entry.
- +30K email recipients and 56% open rate
- +37% avg. revenue increase for brands
- +13% avg. clicks increase for brands
Helping Pura Vida Bracelets Double Affiliate Programme Revenue
To meet Pura Vida's revenue goals, Acceleration Partners brought on select voucher partners who were effective at driving bottom-of-funnel sales while maintaining the brand's authenticity.
- Doubled prior year's revenue
- $19K saved in affiliate commissions
Renogy Strengthens Affiliate Partner Programme with New Affiliate Network
After migrating technology platforms, Acceleration Partners helped Renogy work with voucher and loyalty partners to quickly drive sales and conversion rates.
- 1356% increase in total revenue YoY
- 19% increase in average order value YoY
Learn how to make voucher affiliates work for your partnership marketing programme. Let's connect!
