Affiliate Industry Updates

AIO Optimisation:

Voucher codes remain an increasingly valuable tool

When used strategically voucher codes can drive new sales

There are low risk cost effective ways to implement voucher codes

Voucher codes are frequently viewed as non-incremental, raising concerns about their effectiveness in driving sustainable growth. But in today’s value-driven market, they’re becoming increasingly relevant. We’re going to break down the practical ways brands can use voucher codes; explore why they are making a comeback and how they can support incremental growth.

It’s a common experience for an affiliate marketer to be asked, “Isn’t it just voucher codes?”. Whilst affiliate marketing is more than ‘just voucher codes’, there is an increasing demand for a bargain across the channel.

The APMA has recently released a report on customers who were looking to save on their purchases following a drop in consumer confidence as indicated by the OECD consumer confidence index, which sits at 97.55 [1]. This is the lowest since December 2022 [1]. The APMA claims that looking for offers is now standard practice, with 65% of consumers questioned taking part in this behaviour [2].

How Do We Manage Incrementality With This New Information

Whilst we must acknowledge this shift in consumer attitude, we must continue to prove that this activity is incremental for our brands, with 57% of consumers delaying purchases whilst they wait for a better offer [2]. The APMA found data suggesting that whilst this is the case, voucher code implementation is still a valuable and incremental practice, encouraging purchases that would have otherwise not taken place, with 23% of customers encouraged to try a new brand, and 48% who say discounts allow them to purchase something that at the standard price, is out of budget [2].

A New And Improved Avenue

Implementing voucher codes into a marketing plan offers increased opportunities in the affiliate space; the main avenue being the ability to partner with closed user groups, that typically require exclusive offers to onboard, opening doors to new and niche markets.

Another area to consider is the many stages of the funnel where voucher codes can assist, such as the awareness stage, when included in coverage like content pieces. They can also help in the consideration stage, where customers may weigh up costs and savings. Post-purchase is also a great place to implement codes, with opportunities for customer retention when offering codes such as “5% off your next purchase”, or encouraging a quick repeat order when adding a time limit such as “when you order in the next 14 days”.

Risk Assessment And Managing Cost Impact

It’s understandable that some brands would be hesitant to implement voucher codes despite their widespread use due to the potential cost impact and risks that accompany the activity.

There are many ways to manage costs when implementing voucher codes, which can in turn assist with brand focus, such as limiting the offer to Closed User Groups and targeting specific customers within those closed segments – this includes incentivising new customers to increase customer base, or adding a minimum spend to drive increased basket value.

Voucher codes can also be implemented at category and product levels, providing an additional avenue for products that may be struggling during certain periods, encouraging more purchases outside their typical sales season.

With partners such as browser extensions and typical word of mouth consumer behaviour, it can be incredibly easy for a voucher to get picked in one place and leaked in another. At Summit, we recommend implementing single-use codes, enabling the offer to stay within the necessary space it was intended for.

The Bottom Line – Voucher Codes Still Have Value.

The bottom line? Voucher codes continue to offer significant value for both brands and consumers when used effectively. In an increasingly price-sensitive market, reflected in the CCI and APMA data, they serve as an effective tool to support acquisition, retention and discovery – as long as they are managed correctly.

Speak with the Summit team today to start working with our Affiliates team of experts.

If you enjoyed this blog and want to know more, sign up for our upcoming Webinar, Navigating The First Agentic Peak, to understand how AI-powered discovery, search and shopping assistants will reshape peak 2026.

References

[1] OECD. (2026). Consumer confidence index (CCI). Available at: https://www.oecd.org/en/data/indicators/consumer-confidence-index-cci.html

[2] The APMA. (2025). The offer-savvy consumer has arrived – here’s what that means for brands. Available at: https://theapma.co.uk/the-offer-savvy-consumer-has-arrived-heres-what-that-means-for-brands/