Why Financial Services Brands Use Affiliate Marketing
Whether you work for a traditional bank, a fintech app, or an online loan provider, affiliate marketing can help you reach your target audience at every stage of the customer journey. And because you only pay for measurable results in affiliate marketing, it's a low-risk way for financial services companies to drive more traffic, leads, and sales to their business.
OF ADVERTISERS USE AFFILIATE MARKETING
EXPECTED U.S. AFFILIATE MARKETING SPEND IN 2020*
FINANCIAL SECTOR'S SHARE OF TOTAL AFFILIATE SPEND**
Benefits of Affiliate Marketing
Affiliate marketing opens new audiences and insights to financial services companies, driving incremental users and profit. As independent, expert promoters who are paid on a performance basis, affiliate marketers also offer brands more control over their advertising than other channels. This is especially important in the financial services sector, where marketing must adhere to strict regulations and remain in compliance at all times.
Benefits of affiliate marketing for financial services include:
- Access to valuable, highly-engaged target audiences
- Partnerships with reputable, brand-aligned marketers
- Total control over ad placement and viewability
- Measurable, performance-based results for maximum ROI
- Technologies to protect against fraud and monitor compliance
- Cross-channel targeting and conversion tracking
- Program and campaign optimization
How Financial Services Brands Can Get Started
Brands have two options when it comes to starting an affiliate program. The first option is to pay an affiliate network, which allows you to run a program on the network’s platform and work with the network’s affiliates. The second option is to purchase a SaaS solution, which allows you to run a program on your own platform and work with anyone, including affiliates and networks.
At first glance, a network often appears to be the most cost-effective option when starting an affiliate program. For most businesses, however, a SaaS solution such as TUNE will almost always prove more cost-effective in the long run. This is because many brands choose a network without realizing that the network will take a cut of their profit, as well as dictate the terms of their program, including their relationships with affiliates, data access and reporting, payout policies, and conversion tracking methods. Because they operate under strict regulations and consumer protection laws, financial services companies are particularly suited to SaaS solutions, as these offer more program control and direct partner management than networks.
For finance brands interested in a SaaS solution, the TUNE Partner Marketing Platform is the leading technology for measuring and managing affiliate programs:
- Functionality to work with any partner, including affiliates, networks, and agencies
- Unparalleled flexibility with granular controls and customization options
- Two-way APIs for real-time data streaming and campaign optimization
- Workflow automation across the partner lifecycle, including onboarding, performance optimization, built-in fraud prevention, and in-platform payments
- Comprehensive tools for commissioning, policy, ad serving, etc.
- Reliable, cloud-based infrastructure with 99.9% system uptime record
- Dedicated technical support with industry-leading 98% customer satisfaction rating
- High standards in data and privacy practices, including SOC 1 and SOC 2 certification and GDPR ePrivacy certification
The biggest value add for me is the flexibility and ease-of-use of the TUNE platform. Features like multiple conversion goals, custom payouts within offers, and real-time data make TUNE a one-stop shop for tracking and reporting, and that’s increased both our efficiency and transparency with our partners.
AUSTIN GREEN, HEAD OF PARTNERSHIPS
Learn More About Affiliate Marketing
for Financial Services
Discover how to build, manage, and grow a successful affiliate marketing program with these resources created specifically for financial services brands.
Discover how personal finance tool Credit Sesame optimized commission costs and protected their affiliate program against fraud with the TUNE Partner Marketing Platform.
Financial Services Playbook
An industry-specific introduction to our Ultimate Guide to Partner Marketing, this two-page playbook lays out the most important considerations in affiliate marketing and aligns them with TUNE solutions.
Top Partners for
Successful affiliate programs all have one thing in common: the right partners for the job. Here are five different types of partners who excel at affiliate marketing for financial services.