One of my product specific sites I developed at the start of the year is making decent sales each day, and traffic is also increasing each day. The merchant has given me a £5 discount voucher to promote on the site (and several other sites which point to the same merchant) which works out at roughly 10% discount.
Now the problem I have is that my traffic has been, and still is converting at approximately 9% without the voucher. By adding the voucher Im going to need to hope that the conversion rate increases to at least 10% to make up the loss in commission that I have made on the other orders.
I’ve never pushed discount codes before, so im not sure what percentage increase I can expect, but I have put the code live for a week and will see what difference it makes. If its not benfiting me I will remove it again. In theory, by putting the code on there I SHOULD get a higher conversion rate (who doesnt like a 10% discount??), hopefully high enough to not only cover the loss in commission but also increase the amount of commission I am getting.
Anybody else had any experience with discount codes on single product sites? I know my 9% conversion rate is already pretty high (merchant average is around 4%), Im going to need a 10% conversion (10% increase) to match without the voucher and preferably at least an 11% conversion (20% increase!) to make it worth promoting the discount voucher.
Is a 20% increase realistic given that all my traffic is targeted and looking a specific product? I guess only time will tell! I’ll update in a week or so.