How to track coupon usage
So you awarded some coupon codes to your affiliates.
Perfect — you can check off one important box in your affiliate marketing strategy. Coupon codes are a fantastic way to scale growth, retain customers, and attract new ones.
But coupon tracking takes you even further.
Sure, your beauty influencer affiliate might score you some makeup sales by sharing your coupon code with her YouTube tutorial.
But how much do your customers spend? How many leads does she bring you? Do her numbers change depending on the time of year?
Here’s the thing: a one-time uptick in eyeshadow sales won’t mean anything unless you dive into the details — aka ROI and data.
These days, tons of brands use coupon codes, and people love them for online shopping. But many companies don’t track campaign performance or digital coupon usage. Bottom line? It’s a giant missed opportunity for growth.
Here’s what we’ll cover:
- 8 of the best statistics on coupon usage
- Is the end of couponing near?
- A guide to different coupon types
- How does coupon tracking work?
- What is the best coupon tracker for my business?
- Tapfiliate coupon tracker features
- Get started with coupon tracking today
Don’t worry; we’ll cover how to track coupon usage. But before we cover the how, let’s understand the why.
8 of the best statistics on coupon usage
Have you ever Googled a brand coupon before making a purchase? Groupon, perhaps? If not, you’re the minority — 92% of online shoppers sought coupons before checking out.
There’s a good chance your customers are part of that 92%! And why wouldn’t they be? Customers appreciate perks, especially if they’re loyal to your brand.
But coupons are so much more successful when they come from someone credible to your customers. And if your customers haven’t found you yet? Your affiliates give customers that desired credibility.
One social marketing study describes this credibility as a reason to “endorse coupons through referral sources with higher familiarity.” Of course, this covers coupon affiliate links and codes.
However, the codes open more doors for peer-to-peer sharing and conversions, where links can’t make the cut (i.e., Instagram or TikTok captions or in-person conferences).
But this reality isn’t limited to academic studies. Recent coupon industry statistics continue painting the picture:
- 86% of millennials reported they’d feel persuaded to try a new product with a discount (Coupon Follow).
That persuasion is more powerful in customer shopping behaviors than you might think. Discounts and coupons tap into our psychology, creating pleasure and pain. Why? Because the prospect of missing out on a coupon resembles a pain customers would rather avoid! Vericast backs this up, finding that 38% of customers feel excited when offered special deals.
76% of consumers find coupons through social media (Blippr).
One Blippr report noted email as consumers’ preferred place to receive coupons. But social media is increasingly popular, with a whopping 76% of customers finding coupons there now. This makes sense when we think of the (227 million new social media) users(https://blog.hootsuite.com/simon-kemp-social-media/) just this year!
26% of customers will share discount codes with friends and family (Vericast).
Word-of-mouth marketing is a fabulous pairing with coupon codes. Not only will your customers appreciate the discount, but they’ll also talk about it in their circles. If you ask us, that’s free marketing.
Mobile coupons make up 80% of coupon redemptions (Juniper Research).
Move over, paper coupons. Digital coupons are on the rise, making up the majority of coupon redemptions. That’s yet another argument for influencer marketing strategies to capture mobile social media audiences.
39% of customers will likely make a repeat purchase if offered a coupon (Vericast).
Repeat customers also spend more, pumping up average order value. Plus, they’re more likely to share the good word with potential new customers.
Coupons influenced 69% of physical and online shoppers’ purchase decisions (CreditDonkey).
Now, this is a huge incentive to include coupon codes in your affiliate marketing strategy. Even if your affiliate channels professionalism, enthusiasm, and credibility when promoting your product, sometimes the coupon code is the tipping point for their audience to actually buy into your brand.
Mobile coupons create more customer loyalty than loyalty programs for 70% of customers (Tapfiliate).
Points for every purchase might sound nice in your strategy meeting, but they’re not as groundbreaking to 70% of customers. Some online shoppers even download dedicated coupon apps. Why? Because mobile coupons are more motivating for their convenience and immediate reward, and they appeal to both millennials and the more tech-savvy Gen Xers.
Digital coupon redemption is expected to exceed $21 billion in 2022 (Juniper Research).
Juniper research compares this with $47 billion in 2017 — an immense 93.61% increase! Your discount codes aren’t going to waste. Customers love them and will use them to spend more money.
Want to start tracking your coupon usage? 👉get a 14-day free trial here
Is the end of couponing near?
Absolutely not. Sure, the physical coupons in magazine clippings might not be as popular in 2022, but mobile and digital coupons are taking the reins.
All the above stats demonstrate customer appreciation for coupons. While the medium changed, the idea and psychology haven’t. Business owners use coupons in their own campaigns, online coupon sites, apps, and of course, through affiliates.
Does that mean you should only rely on discount codes? No — but why not have it as a tool in your arsenal? Add word-of-mouth marketing, and you’re set for serious reach and revenue.
That’s why coupon codes through affiliates are so powerful. The social media platforms generate conversations through comments and sharing — at no cost to your brand.
A guide to different coupon types
Today, consumers have tons of coupons to choose from. Let’s explore popular types of coupons:
Magazine or mailed coupons: Do you ever sift through McDonald’s and A&W paper coupons in the mail? A movie coupon on your cereal box? Or perhaps you notice a handyman discount in your local newspaper. These are traditional print coupons inspired by Coca-Cola’s Asa Candler in the late 1880s! But these days, paperless coupons are more common.
Brand coupons: Ever shared your email address at check-out? Just Google “coupon” in your email inbox, and you’ll certainly find special offers from your favorite brands. Many brands include coupons in their affiliate program, whether it’s a pizzeria or hardware store. Don’t worry; you’re not the only one
Affiliate coupons: These are technically still brand coupons, but the difference is in the dispersal. Instead of a company directly giving coupons to the customer, the coupon passes through a second pair of hands.
Your favorite fitness trainer might be an affiliate for Muscleblaze protein powder — that explains the coupon code he offers at the end of his Instagram-reel pump session. Similarly, a comedian might present a coupon code for electronic cigarettes on his podcast description.
These are still brand coupons, but the difference is in how they reach the customer. The affiliates act as middlemen, distributing supply while adding credibility and engagement!
But you know all that. The thing is, how do you maximize your coupon revenue once you’ve dispersed codes to affiliates?
Your first step is learning how to track coupon usage.
How does coupon tracking work?
The case for data tracking is clear. You can’t grow without it. Now, labor is a prominent expense for companies, and we’re seeing a huge demand for data roles like data engineers, business analysts, and more — many fetching six-figure salaries.
Of course, you could hire an analyst for affiliate coupon tracking. You should have one anyway! But you won’t maximize insights or performance without tech.
And the right tech takes your coupon tracking to new heights. Let’s look at Tapfiliate as an example.
We help brands manage, organize, and track hundreds of affiliates’ digital coupon redemption and affiliate performance. And part of that performance is coupon revenue and buying patterns! Then, we take all that data and present you with valuable insights to inform your business strategy and tweak your campaigns accordingly.
You can conduct coupon tracking in two ways with Tapfiliate:
You create unique coupon codes through your shopping platform backend.
You assign coupon codes to your affiliates on Tapfiliate’s dashboard.
Every time a customer buys a product using an affiliate code, our software automatically recognizes it and tracks the sale for you. This includes customer ID, order value, and revenue for different time periods.
Similar to online, but we include coupon codes used in offline marketing campaigns.
Say your affiliate disperses coupon codes at an event, or you organize a coupon to be promoted in a a magazine issue. If a customer goes online to use that coupon, we’ll track the code to that affiliate.
The same data tracking applies — we’ll find out customer ID, order value, dates, and any other sales used with that affiliate’s code.
We’ve come a long way. Coupon usage statistics and value? Check. Ways to set up coupon tracking? Check. You’re ready to jump aboard the thousands of positive coupon usage statistics that your competitors contribute to. Set up coupon tracking with Tapfiiate!
Want to start tracking your brand’s coupon usage? 👉get a 14-day free trial here
What is the best coupon tracker for my business?
Coupon tracking is a solid way to inform your affiliate strategy and grow. But how do you pick the best coupon tracker?
Here’s what you should look for:
Coupon code allocation: The right software should easily allocate coupon codes. Do you really have time to send endless emails with those codes to your affiliates? God no. Your coupon tracker should assign those coupons with minimal effort required on your end (except a few clicks, perhaps).
Coupon performance: How many buyers came from each affiliate? What do they spend on average? A coupon tracker should show you this essential info easily and accessibly.
Coupon data: Behind performance, thousands of data points work together to create insights. Coupon tracking software should show you:
- Customer ID
- Affiliate referral links
In-depth reporting: Dive deeper into your strategy by calculating the ROI on each affiliate, campaign, content type, and more.
Long-term results: What’s your bottom line? Look for software that can track your growth and help you improve it.
Psssst. Tapfiliate offers helps with tracking codes, along with all these coupon tracking features.
Tapfiliate coupon tracker features
Tapfiliate has 2,000+ clients using our affiliate tracking software to boost sales and grow their businesses. On top of the regular coupon tracking features — we offer:
Even more data: We don’t stop at affiliate revenue. Our software shows you exactly how much customers spend, when they buy, and with which affiliates. We even track conversion time for customers for each transaction.
Real-time conversions: We show you how many conversions each campaign or affiliate brings you. Similarly, you’ll view commissions and see how they compare with your overall revenue. Don’t worry — you can refresh stats (including time stats) for the latest updates whenever you’d like.
Curious? See for yourself with our free 14-day trial!
Get started with coupon tracking today
Let’s face it: your affiliate revenue will only go up when you’re using data-informed coupon code strategies.
And coupon tracking gives you those vital insights to improve campaigns and scale your business.
Still need convincing? Maybe you’re a visual person and need to see things in action. That’s why we offer a free 14-day trial at Tapfiliate. Explore all our features, customize your dashboard, relish our rich reporting, and manage your affiliate marketing strategy like never before. Sign up for your free trial today!