Wikigains Explains Why It’s High Time To Modernize Your Coupon Strategy

Wikigains Explains Why It’s High Time To Modernize Your Coupon Strategy

If the term ‘couponing’ brings up images of your granny clipping square shaped coupons from the newspapers, you have an old-fashioned take on it. Chances are that your business also reflects that attitude.  Alex Papaconstantinou from UK coupon site Wikigains says it’s surprising to see many businesses still stuck in the Dark Age when it comes to digital coupon strategy.

Issuing discount coupons is a relevant marketing strategy that can boost the value of most brand-conscious companies. According to a latest report, over 80 percent of Americans use a printed a coupon from reputed coupon sites, and about 53 percent customers use deal sites like LivingSocial or Groupon.

Why Do Your Need A Modern Coupon Strategy

Why Do Your Need A Modern Coupon Strategy

If your company sells a product/ service that has a lot of competition, promotion is an important tool to drive the much needed sale. Partnering  with a reputed coupon site like Wikigains can prove to be beneficial, provided that you plan an effective coupon strategy, manage and track the results.

Please bear in mind that although there are dozens of benefits of implementing a coupon strategy, make sure the one you use holds value for your company. For example, if there is no coupon or promo code box in your website’s checkout page, how will the consumers use a coupon.

Similarly, if you are a single-channel retailer that offers a high level of personalization, you must determine how and at which level the customers may use the coupons.

Wikigains Recommends Building A Solid Infrastructure 

Most of the coupon websites partner with reputed affiliate networks to offer coupons, and this is where merchants  provide coupons for a commission.  So, if you wish to benefit from coupon sites, you must invest in an affiliate program.

To begin with, you need to identify the affiliate  networks available and in which capacity you wish to partner with them. Here are some tips to help you effectively work with a coupon site and build a solid infrastructure:

#1.Select your coupon partners wisely:

Make sure you always research a coupon website thoroughly before accepting it into your affiliate program. Visit each site to ensure that it is relevant to the program you offer.  Look for an applicable category on the site or a relevant section featuring similar types of companies, products or offers.

#2. Have an in-house manager work closely with coupon partners

You must have an experienced in-house manager or a specialized third-party agency closely work with the coupon partner(s). Their key role would be to use various models to evaluate and identify which one works best for your target audience. Acquisition of new customers and retaining the existing ones should also be an important part of their roles.

#3.  Invest in your relationships with coupon sites

According to Wikigains, just setting up a discount coupon program or partnering with affiliate networks is not enough. You need to encourage the coupon sites to put your brand on their front page by investing in programs like social media, email, blogging, and display ads.

#4. Offer rewards and track results

You must set commissions to reward coupon sites for new customer acquisition, conversions or awareness for your business. Have reward programs in place to motivate your partners and track the outcomes to understand the contribution of coupon sites.

Wikigains Believes This Approach Can Attract And Convert Customers

In an era of digitalization, Wikigains believes that modernizing coupon strategy can highly benefit your business. It can not only help you reach out to a larger audience but also track the results more closely and work with the right business partners.

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