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Benefits of affiliate marketing for the Fintech industry

October 8, 2020
Heiko Hildebrandt

Heiko Hildebrandt

My name is Heiko Hildebrandt. I'm located at the Target Holding headquarters in Lillestrøm, Norway. Since 2014 I have been CEO at Target Circle.

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Affiliate marketing and the Fintech industry

Fintech, or financial technology, companies are shaping the future of every business in the world. These companies have been making life easier for everyone in the digital space with their innovative approaches. These days, more and more fintech companies are working towards affiliate marketing and working with partners that make a big part of their marketing more beneficial. In this article, you will find out more about the benefits of applying affiliate marketing in the Fintech Industry.

New impulses in an existing market

Fintech companies, and financial services, have existed for a very long time. Compared to that, affiliate marketing is relatively new. More and more industries however have seen firsthand what the benefits of a good affiliate marketing program can be. Take the casino industry for example, they have been working intensively with affiliate marketing for over four years now. The gambling and entertainment industry in general has been very resourceful in the use of affiliate marketing. They pay out generous commissions and use affiliate marketing to spread their products all over the world. For just a fraction of the costs of ‘traditional’ online marketing.

How important is affiliate marketing for the Fintech branche?

Let’s talk about the fintech industry and affiliate marketing. If you decide to start with affiliate marketing right now, you’re early, but no pioneer. A lot of fintech companies, like banks or major card issuers, are already working with affiliate networks and partners. And they are seeing the benefits. Marketing costs can drop by a lot, while results only get better.

A lot of card issuers, like Visa or Mastercard, are currently in an affiliate race. They are all competing to become the top-dog in affiliate marketing for their industry. Why? Because they realized that affiliate marketing is extremely important for their business. Affiliate marketing allows them to combine their own high-quality products with the marketing experience of others, giving them a huge boost in marketing revenue. With little costs. They are making the most of the influence influencers have.

Why is affiliate marketing important to the Fintech industry?

People working in fintech might know a thing or two about marketing or influencing, but they are not marketers or influencers. With affiliate marketing, you can profit from the knowledge and network of the top financial websites, editoritals, individuals and influencers. These are all potential affiliate partners with either a great network or a lot of marketing power. The affiliate options are near limitless for the fintech industry. By paying a set fee to your affiliate partners, you can avoid extremely large marketing spendings, while still getting the best results.

And it’s not just private card issuers and banks that are starting to use affiliate programs more and more. Even governments and public financial institutions are starting to see the value of affiliate marketing programs.

Unlimited possibilities for partnerships

When starting with affiliate marketing, it’s important to note that partnerships aren’t limited to specific affiliate agencies. If you can find a partner that is willing to work for your product or service in exchange for a commission, nothing can stop you from making an affiliate agreement with them.

Find skilled partners

Some important skills you want an affiliate partner to have can be search engine optimization, or SEO in short. With good SEO, the content of the affiliate partner will be searchable, findable, and accessible in Google. This increases traffic and conversions on a massive scale, making it an important skill for any publishing agency.

In affiliation, for financial or a different industry, SEO becomes more and more important. The traffic generated to a website decides, partly, how much a publisher gets paid. That’s why more websites, of any type, are becoming more popular as affiliate businesses, they know how to increase traffic to their website from Google.

Good partners create content on your behalf

The publishers that master SEO are very popular among young readers. They do not only provide them with promotions, but with reviews as well. They create valuable content, like blogs, reviews, and other materials that are both engaging and beneficial to the reader since it contains links to the actual products. This way, the reader can instantly decide to make a purchase or not. If they do, the publisher gets paid, and you make a sale.

The start of something big

Fintech is an extremely relevant and ever-evolving industry in today’s world, where technology gets increasingly important. Each and every day, we see new innovations, services, and products make big changes in the way we pay for things and the way we get paid.

Innovation doesn’t just stop there. The ways of how fintech products get promoted changes just as fast. Take affiliate marketing, the network that facilitates partnerships between the parties provides an unprecedented level of transparency that this industry has never seen before.

The affiliate marketplace creates a common ground for both publishers and merchants who are then able to negotiate on commission rates, the list of promotion products, and any other term in their contract.

In a world that’s constantly and rapidly changing due to technology, we know for certain that this is only the beginning.

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