Discount codes are unique codes that creators can share with their followers for a special offer on your brand, whether it’s a percentage discount on their cart total or another offer like a gift with purchase or free shipping. Overall, brands that offer discount codes to creators tend to see more success on ShopMy. The benefits of discount codes are:
- Tracking performance: Unique discount codes make it easy to measure each creator’s impact on sales, clicks, and engagement. By attributing sales directly to specific influencers, brands can better assess which partnerships are most effective and adjust strategies accordingly.
- Works across platforms, especially for long form pieces of content: Some channels, like Instagram Stories, YouTube and Substack, are better suited for hosting links than others. For creators that are more TikTok or IG Reels-forward, codes are a better way for them to drive their followers to a brand’s site since links aren’t easily hosted via these channels. Instead, a creator can share their unique code in their caption and, since this content doesn’t expire, their audience can continue to see their code and shop.
- Building stronger creator relationships: Offering unique codes to creators can strengthen brand-influencer relationships. It shows that the brand is invested in helping the creator deliver value to their audience, enhancing loyalty and increasing the likelihood of longer-term partnerships.
- Encouraging higher conversion rates: Unique discount codes help reduce the purchase barrier, encouraging more followers to complete their purchases. The sense of urgency or exclusivity attached to a creator-specific code can improve conversion rates by tapping into the creator’s influence and credibility. Studies show that 80% of customers are motivated to make their first purchase with a new brand if they have a coupon or discount. That jumps to 88% for millennials (Inc).
Note that brands on the ShopMy network also have the ability to make their discount codes commissionable, which means that the creator will earn commission on any sales using that code even if a user didn’t click on a ShopMy link.