As the financial space continues to evolve with the rise of fintech and neobanking, brands are constantly on the lookout for more innovative ways to reach their customers.
Many are expanding their affiliate programs with a more diverse publisher mix to reach their audiences where they’re most active and, as a result, improve loyalty to their brand.
Program expansion drives exciting growth if you have the right partner to help you grow with peace of mind. Concerns over publisher compliance, the cost of monitoring and the risk of fines have deterred some advertisers from engaging with potential partners and missing opportunities to reach their key audiences.
Brands need a partner who can help provide both expertise in affiliate marketing and in compliance to mitigate these risks and drive performance.
To help financial advertisers stay up to date with their customers’ evolving needs, Rakuten Advertising recently surveyed about 1,000 Americans to learn about their feelings around current and future credit card and banking options.
Our latest report highlights the key insights financial brands need to consider when growing their affiliate marketing program. Here are some highlights to keep in mind:
Customers are looking for more digital engagement.
Our survey showed consumers rank email first, followed by family/friend referrals, as their preferred way to learn about new credit cards and payment offerings.
Today’s consumers are actively seeking out digital experiences in their financial research journeys, but developing a customized marketing experience takes time (and data). The majority of consumers research new credit cards or bank offerings through a mobile app or look for new offerings on social media.
Rakuten Advertising’s network of 150,000+ publishers offers brands opportunities to connect with audiences in an authentic way using a unique blend of automation with a hands-on approach.
Rewards look different by generation.
While all generations can agree on the importance of cashback when choosing a new credit card, our survey shows that older generations value perks like welcome bonuses more than younger generations who are seeking out additional perks like gym discounts and transportation credits.
For marketers, this can affect how you’re approaching your target audience depending on where they are in their financial journey. Customers are not only hunting for the best offers, but they also want to make sure they’re working with a brand that understands their specific needs and values.
Cashback is still king.
With more cashback and loyalty publishers in the affiliate space than ever before, financial advertisers have limitless opportunities to reach new audiences with the offers they value most.
Tracking offers across numerous publishers can seem risky. At Rakuten Advertising, our team of global compliance managers with more than 20 years of combined experience in affiliate compliance and in financial institutions make sure expectations are being met. With an average failure rate of 1% (compared to the industry’s 8%), we help monitor your content compliantly while expanding your growth with a comprehensive in-house solution that combines automation and service to deliver results.
For more insights on how consumers find and choose financial services, download our 2022 Financial Affiliate & Consumer Trends Report.