Coupon Marketing 101: Learn How To Set Your Coupon Marketing Strategy Apart

Most shoppers today turn to digital coupon codes before making an online purchase. A May 2020 survey revealed that 92% of U.S. consumers at least “sometimes” look for a deal before they buy, and just 8% said they “never” look for a way to save on their purchase. This creates a massive opportunity for retailers and eCommerce companies to expand their reach through coupon marketing, which can drive more traffic and sales than an eCommerce site can on its own.

Here are the top competitive marketing intelligence trends to look for when working with a coupon site and how to know which sites are worth your time.

What is coupon marketing?

Coupon marketing is a method of attracting new customers and increasing sales from existing ones through discounts and offers. Today, most coupon marketing is done digitally, with one or more of the following:

• Promo codes
• Mobile coupons
• Downloadable coupons
• Trackable discount links

These discounts are often sent to customers through regular emails but can be shared on social media, through affiliates, and even on coupon and deal sites.

Top coupon sites

There are dozens of sites that claim to help shoppers save money as a repository for the best coupons and deals. Some even offer exclusive deals to just their site, often in an arrangement with the retailer directly. These coupon sites make their money through an affiliate partnership with the retailer and advertising.

As of May 2021, the top coupon site was slickdeals, with 54.14 million hits to the site on average in a month. The second-trafficked site was Rakuten; it has 46.99 million visits for the same timeframe. The graph below demonstrates the top ten sites globally.

Why work with coupon sites?

Coupon sites have already built giant communities with one thing in common: they want to find the best deal. So, provided your deal is significant enough to cause a shopper to consider buying from you and not a competitor, you have something coupon sites can give their readership and help build their reputation as a destination for top deals.

As you help the coupon site stay up to date with deals their readers will love, you’ll get the traffic they send – and potentially a sale. While a deal site can raise awareness for you and your promotion, it can’t make up for shopping snags, so be sure you have your site optimized for coupon code redemption. Making the coupon experience a seamless one for shoppers is key to turning a first-time shopper into someone who would consider shopping with you again. From there, you can build loyalty. After that, they’ll maybe seek you out first, even without a coupon code.

Digital coupon marketing is somewhat about education. It can make an excellent first impression for shoppers who have never heard of your brand or were unsure you could fill their shopping needs. Even if they don’t end up buying, simply visiting your site after coming to it from a deal site builds awareness and trust.

How to use Similarweb to find the right coupon site for your digital brand

There are so many coupon sites out there, so how do you know which ones are best to submit your coupon info? While the top sites are appealing, there are things to look for before you go all in.

1. Does the site frequently update codes? Or do they list several outdated or unreliable codes? Shoppers who get their hopes up only to find out their code is expired or invalid upon checkout may be too frustrated to return. Do your homework to find sites that curate and care for their coupon listings.
2. Are community-listed codes of good value? Some sites let readers submit their own codes, but frequently these can be codes without significant savings. Worse yet, one-time use codes may be shared, becoming a waste of time for anyone but that first lucky user.
3. Does the site offer exclusives or paid placement to help boost engagement? Ask if the site will work with you one-on-one for a featured deal on their site only. They may use this exclusive as a way to promote you more widely, helping you stand out against your competitors who may also have deals on the site.

It’s also recommended to use Similarweb’s robust data tools to see which sites are best for your keywords, shopping categories, and customer segment. Since digital coupon marketing is best achieved through targeting, having this data before you pick a site can help save time and limit frustration.

How to create a coupon marketing strategy

You’ve looked at coupon sites, gotten approval for a coupon offer, and have settled on the timing. What else goes into creating a successful online coupon marketing strategy? Consider these steps:

Step 1: Research

More data can’t hurt. Consider what your competitors are doing in the same space. How big are their deals? How long did they offer them? Are people reacting to their coupon announcements on social media? You can learn a lot from consumer sentiment. Use all tools available to you to see what’s already worked, and what didn’t.

Step 2: Know your customer

Who is your ideal shopper? How do they currently use coupons? If there is a disconnect, fix that before your coupon launch. If you sell items that appeal to Baby Boomers but only offer coupons via a phone app, you might consider expanding to coupon codes at checkout that you advertise through email.

Step 3: Do a test coupon

Before you take your coupon wide, start with a modest offer and give it to your closest customers. A loyalty club or one segment on social media might be a good way to test. See what experiences they have. Was it easy to use? Did they experience any pain points? Use this feedback to improve before doing more offers.

Time to level up your campaigns

While more coupon marketing ideas will come to you over time, good data can help get those creative gears turning. Don’t forget to see what trends Similarweb has already identified, and use those as a basis for your next innovative campaign.

by Chelsea Feil

Marketing Intelligence Specialist

Chelsea, a storyteller and data enthusiast, graduated with a B.A. in Media and Communications. She enjoys sunsets, beach frisbee, yoga, and exploring new places.