A discount code is typically made up of letters and numbers that make up a specific code. These codes can be used to gain a discount on a product to compel customers to purchase products. Discount codes have been an increasingly popular method to build brand awareness and to increase and track revenue. Most importantly, discount codes have a huge impact on increasing conversion rates.
What are Conversion Rates?
In terms of influencer marketing, conversion rates describe the measure of the number of potential customers who visit your website to buy your products, and the overall percentage of visitors that go on to make a purchase. Conversion rates are vital for a successful marketing campaign because it means that customers are building traffic and purchasing products.
Data Report on Discount Code Conversion
To answer the question: yes, discount codes in influencer marketing are converting. This means that the discount codes used by every purchase contribute to the total revenue, which contributes to the increase of conversion rates. According to the CFI Group, 93% of consumers who sign up for loyalty programs consider discount codes as an influential factor in signing up in the first place. Adding on, according to the eMarketer, 55% of US internet users will redeem a discount code at least once a year. These analytics prove that discount codes play a major role in increasing conversion rates.