The Big 4 Playbook: The Insiders Guide to Earning a Job at a Big 4 Accounting Firm
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When it comes to working with publishers, many marketers are familiar with display advertising, where advertisers pay publishers based on impressions or sometimes clicks. Coupon websites, in contrast, typically participate in CPA cost per acquisition affiliate marketing platforms. CPA marketing is distinct from more traditional advertising formats in that advertisers pay only for sales or conversions generated by their publisher partners.
These networks act as an intermediary between you and the coupon website, tracking sales and conversions and handling payments between parties. On the flipside, affiliate marketing by nature allows your partners significant flexibility in how they promote you and requires more oversight. Coupons typically work best in markets that are highly competitive or commoditized as they can help your brand break through the noise and compel a shopper to buy from you through a significant discount. But if price is an important decision factor for consumers in your market, coupons can be an effective tool for motivating the sale.
If your product or service involves a high lifetime value for each customer, offering coupons as a way to incentive the initial sale can make a lot of sense. Every brand is different, so think about how coupons can fit into your marketing mix to drive incremental value.
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Coupon websites give marketers access to audiences of shoppers who are interested in deals. One of the most important functions that coupon websites play is to test and verify coupons, especially promo codes, so that visitors can reliably find working coupons when they need them.
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This is an important but resource-intensive task — some coupon sites do a great job with this but many do not more on this below. Additionally, some coupon sites offer cash-back loyalty programs in which they incentivize shoppers by paying them a percentage of each sale made through their website. Traditional coupon sites are the ones that will probably look most familiar to you.
They typically manage a large email list and can drive customers to your brand via their newsletters. For traditional coupon sites, search engines are also an important source of traffic, as consumers search on sites like Google for coupon codes and land on these websites. These sites tend to focus on verifying thousands of coupons each day so that they can provide an accurate and reliable coupon search experience. Some of these sites are more generalized, and others focus on more niche interest areas.
These websites tend to have very engaged audiences and often have great insight into the types of offers that will perform with their users.
The Marketer’s Playbook for Working with Coupon Affiliate Websites
The key to working with these sites is to find the ones with audiences that will be drawn to your brand and offer. Coupon forums are places where anyone can go to share and discuss deals. Slickdeals is the largest coupon forum, with many millions of people going there every day to get the scoop on the best deals of the day. For advertisers, coupon forums can be great places to advertise your deals typically on their homepage simply given the large number of users who visit those sites. In many cases, marketers solicit popular forum members and create direct relationships in which those members will promote their deals.
Cash-back sites such as Ebates have been around for a long time and are super popular with shoppers since they not only offer coupons, they pay their customers a slice of the commissions you pay them. These are also known as loyalty sites , since most of the shoppers on these sites tend to do most of their shopping through their cash-back systems. One reason to work with cash-back sites is that due to high loyalty among their users you may only get access to these customers by going through the cash-back site.
On the flipside, most loyalty customers maintain their loyalty to these cashback sites, and are less likely to become loyal customers of your brand. If your competitor offers a coupon through the same cash-back site, your customers are likely to switch over to them. Many coupon sites including RetailMeNot have recently started to offer cash-back loyalty programs as a way to increase loyalty from their customer bases.
Most of these extension sites also offer cash-back programs. RetailMeNot recently launched its own browser extension to compete with Honey. So paying a commission to the extension company at this point may make less sense from a marketing standpoint.
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Some coupon bloggers are larger than all but the biggest coupon sites. Krazy Coupon Lady, Hip2Save and Coupon Mom boast readerships in the millions, and if they decide to promote your brand, they can provide you with a considerable amount of visibility. However, most individual bloggers tend to be selective about the brands they actively promote, and the personal tastes of the blogger plays a major role in who they work with.
Alternatively, many thousands of smaller bloggers exist who can also provide a great promotional vehicle for your brand.
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The challenge here is that recruiting and coordinating a campaign with dozens or even hundreds of smaller bloggers can be a logistical challenge. Fortunately, there are some platforms designed to ease this process — Dealspotr is an influencer marketing platform designed specifically for promoting deals, while Famebit is designed for video bloggers on YouTube. Next Article -- shares Add to Queue. Image credit: Bigstock. March 27, 5 min read. Opinions expressed by Entrepreneur contributors are their own. More from Entrepreneur.
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