Finance. It’s a word that usually leads to a conversation that makes your eyes glaze over, as your mind wanders to what you are going to cook for dinner that night. Well, that’s only the case if you’re not an affiliate marketer! In the affiliate world, the word ‘finance’ represents one of the most exciting, lucrative verticals in the industry. We’re here to take you through the finance vertical, some do’s and don’ts, as well as how you can get on board.
What is the Finance Vertical?
Finance is a vertical that is on the rise. Conferences are the beating heart of the affiliate industry, and more and more are being dominated by Finance advertisers and affiliates, especially in the US. Finance is at the stage now where the vertical even has its own conferences.
The finance vertical encompasses a wide range of offers related to financial products and services, and affiliates earn commission by referring customers to these products or services. In Advidi, we concentrate on these six areas:
- 1. Debit and Credit Card Offers: These offers often come with rewards such as cashback or bonus points for the purchase made, and can be adjusted to target a specific audience. For example, an advertiser can target frequent travelers with a travel-rewarding credit card.
- 2. Credit Repair Offers: Almost one-third of Americans have a subprime credit score, meaning there is no shortage of people looking to avail of these offers. With the global credit repair industry estimated at around $6.6 billion and growing, it’s the perfect time to start running these offers.
- 3. Loans and Microloans: These loans could be anything from a business owner looking for investment to someone in an emergency situation in need of some quick cash, for example, a payday loan, which is a short-term loan someone might get until they get their salary.
- 4. Insurance Offers: Health, auto, home, life, travel, pet and business are all types of insurance offers that can be run. This wide range of options means it’s perfect for catering your offers to target specific demographics.
- 5. Investment Accounts: Investing is an area that is increasingly becoming part of social discourse. More and more people are getting involved, and because of this, affiliate programs that push investment offers can be highly lucrative. These offers could link investors to educational programs, investing tools and more.
- 6. Home Improvement: Windows, bathrooms, floors, kitchens, solar panels, you name it! There is a huge market for home improvement offers.
Target Audience
Everyone could use a little help with their finances, right? The scope for who to target in this vertical is pretty wide, but we have identified 5 key demographics to target with our offers:
- 1. People with Financial Needs: Those who require financial products or services such as loans, credit cards, insurance or investment opportunities to meet their financial goals or address specific needs.
- 2. People Seeking Financial Stability: Those who are looking to improve their financial situation, manage their expenses more effectively, build savings or plan for the future.
- 3. Small Business Owners/Entrepreneurs: Those with small businesses and entrepreneurs who need funding, accounting services, business insurance or other financial tools.
- 4. Credit-Conscious People: Those interested in monitoring and improving their credit scores and those seeking credit repair or debt consolidation services.
- 5. Investors and Traders: Those looking for trading tools, investment platforms or financial services in order to grow wealth.
Outside of these groups, there are also offers that are geared towards more specialized, defined demographics, like retirees, parents or students that would have specific offers geared towards their specific needs.
Traffic Sources
Where should you be targeting if you are involved in the finance vertical? Here are some options:
- Google ads and search traffic
- SMS
- Facebook and native ads
- LinkedIn ads and sponsored content
- Email marketing
- Push notifications
- Influencer partnerships
Tips for success
Build Trust
In other verticals it’s all about getting the highest CTR by any means necessary, and although these metrics are obviously important in the Finance vertical, an aggressive approach is not always the best. Creating trust requires patience and planning.
Customers in Finance are less likely to make impulsive decisions. Less focus should be placed on capturing a lead at the first point of contact. It could be the second or third contact that grabs a customer, so create your funnels accordingly.
Provide Information
Give the customer clear, digestible information. When it comes to financial decisions, people need to feel like they know what they are getting themselves into. Provide that information for them up front, don’t make them have to go looking for it. The more they know, the more they will trust the offer.
Know Your Offer
Understand the offer you are pushing inside out. The more you know about what you’re pushing, the more you’ll know how to push it and the better your creatives will be.
Understand Your Customer
Succeeding in this vertical requires a deep understanding of your customer. Try to empathize with their situations, understand their pain points and why they might be interested in your offer. The creatives that draw the most interest are the ones that understand the customer the most.
Get Started With Advidi
Think you’ve got what it takes to step into the finance vertical? We have everything you need to get started right away. Just follow the link below and one of our team will get in touch with you. We’re ready and waiting!