Affiliate Marketing

Publishers earn a commission by promoting a partner’s product or service on their channel/s and get paid primarily on a cost-per-acquisition (CPA) model. This means brands pay only for approved transactions or conversions—which gives them more control over their online marketing spend

With the evolution of the digital space, the affiliate landscape has changed as well. What started with coupons, loyalty, and blog affiliates now also includes social media content creators, and paid media partners. This means a bigger opportunity for brands to find publishers that fit their business values and brand profile within a wide array of options.

Content Affiliates
Consumers are becoming more and more “ad-blind”, especially to traditional PPC advertising. About 200 million internet users have installed ad blockers. As a result, content marketing has grown in popularity because it’s less intrusive—think social media influencers, blogs, and content creators. Personal finance blogs like moneyGenius and other niche sites offer articles and ideas that appeal to their audience while including information about your financial product.

Rate Comparison Sites
Finance comparison sites like RateSupermarket and Ratehub attract like-minded, targeted shoppers who search for the best rates for a range of finance products, including mortgage rates, insurance, credit cards and personal banking. The combination of high traffic and loyal following is a recipe for high performance.

Coupon and Deal Affiliates
Coupon sites get an estimated 48 million monthly users. Adored by price-savvy consumers looking for a deal, many coupon sites, like RedFlagDeals, promote retail discounts, personal finance, and credit card offers.

Loyalty Affiliates
Affiliates offering cashback, points, or other types of rewards have a loyal member base and offer exposure to a large audience of consumers. Sites like Frugal Flyer and Great Canadian Rebates use campaign commissions to pay their devoted customer base for using their recommended products.

Affiliate marketing has proven to be one of the most valuable and cost-effective channels for banks and financial institutes attempting to target and convert customers online. By leveraging affiliate partnerships and paying only for approved transactions or conversions, financial brands have more control over their online marketing budgets.

Publishers have insider industry knowledge; they keep their finger on the pulse of trends and glean knowledge about what works with customers across the industry. Those insights, when shared with financial institutions, mean an opportunity for new strategic and tactical ideas for brands to achieve their growth goals.

Leaping into something new can be daunting and it might not always work out right on the first try. Building the right partnerships can take time. The best thing to do is to have the courage to explore this new channel and do the research required to find out what will work for your brand.

• Research whom other financial brands are partnering with
• Ask your staff if they follow any financial influencers/creators/content sites
• Talk to your network and ask if and how they have worked with influencers /content creators
• Chat with your teams and get buy-in from leadership

If your brand is wondering how to start working with affiliate marketing, consider joining Fintel Connect. Our complete partnership solution and curated network of affiliates and influencers for the financial industry allow brands to reach the right customers in the right place at the right time.