Between the current financial climate and the holidays having just passed us, consumers are going to be less likely to make purchases. So affiliates should be considering what kinds of promotions to focus on in the coming months.
The obvious answer is to promote online savings, but with so many ways to provide consumers savings, affiliates have to decide what kind of savings to focus on offering.
Well, the numbers prior and leading up to the holidays offer some insight into the savings that consumers look for online during a recession, and coupons seem to represent a great affiliate opportunity.
Coupons on the Rise
Months before the credit crisis peaked, both comScore and Hitwise noticed that coupons were one of the leading ways that consumers were saving on their purchases. In fact, if they were going to spend, there was a good chance they were going to look for a coupon first.
For instance, Hitwise reported that during the week ending May 3, 2008, visits to coupon sites were up 85% year-over-year for that week. Consumers were also spending 39% more time on these sites that they did the previous year. Similarly, searches for the term “coupons” were up 45% year-over-year for that same week.
If consumers were seeking out coupons online before the economic slowdown turned into a full-blown recession, then coupons should persist as a very strong opportunity for some time to come.
Focusing on Coupons
If coupon offers are a promising recession opportunity, then affiliates need to understand who is downloading them and what they are using them to save on. All indicators suggest that the majority of coupon users are women, and that family-related coupons are the most popular.
When it comes to ecommerce activities, women seem overwhelmingly focused on family savings. In October, for instance, the Marketing to Moms Coalition found that some of the most popular online activities for women were shopping for their children and downloading coupons.
By focusing on promoting family-related coupons, then, affiliates can help insulate themselves against reduced consumer spending. Family-related coupons not only target the kinds of products that consumers look for in a recession, but especially the demographic that is most actively searching for them.
Opportunity Knocking
A change in the economy does not mean a lost opportunity. Rather, it means a changed one. Consumers may have tightened budgets, but that only means they will alter how they buy. Their family budgets will have to go further, but there are some things they will always need, so there is considerable opportunity for affiliates who can help them save on such items.
By promoting coupons, affiliates can attract not only consumers looking for coupons, but the full spectrum of consumers looking to save – which will be most of them. Coupon promotions, therefore provide affiliates an opportunity to profit from helping families make ends meet.
Nicky Senyard is the founder and CEO of ShareResults.com, a relationship-focused affiliate network.
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FeedFront issue 4 articles can be found here as well: http://feedfront.com/archives/category/issue-4/
