Open almost any established affiliate programme and the top of the leaderboard looks the same: voucher codes, cashback portals and deal sites. They drive volume, they report well, and they are easy to keep happy. The problem is what that volume is made of.
The checkout problem
A shopper adds to basket, sees a promo code field, opens a new tab and searches for a code. A voucher site ranks for that search, sets its cookie, and takes the commission on a sale you had already won. You paid full commission, gave away a discount, and gained nothing.
In one fashion programme we took over, 68% of affiliate revenue came from voucher and cashback partners. On paper it was a healthy channel. In practice a large share of that commission was paying for customers the brand already had.
What to do about it
- Pay by partner type. Voucher and cashback partners earn a lower rate than content partners who introduce new customers.
- Check new customer share by partner, not just revenue. If a partner rarely brings first-time buyers, price their commission accordingly.
- Control code leakage. Exclusive codes, code-to-partner mapping and network voucher attribution rules stop sites claiming codes they never earned.
- Do not cut voucher sites blindly. Some convert hesitant new customers. The goal is to pay fairly for what each partner adds.
Rebalance, then grow
When we rebuilt that fashion programme around content publishers and creators, monthly partner revenue grew from $214k to $324k. The voucher partners stayed, on the right terms, and the growth came from partners who were actually creating demand.