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February 10, 2022

Advertise Purple Delivers Big for Financial Services Companies

Why do I need affiliate marketing?

Admittedly, that’s a question we hear a lot from prospective clients, but it’s one that we hear the most from financial services companies. After all, affiliate marketing is about selling stuff, right? Stuff like TVs and kitchen appliances and clothes, but not insurance, accounting services or financial software.

In fact, financial services companies actually outperform every other vertical we represent. In 2021 alone, our financial services vertical generated $124,224,151 in revenue, making it our top-performing vertical.

That’s a strong number, but what makes it even more impressive, is that we have fewer clients in financial services than we do in almost any of our other verticals, which means that we are generating disproportionately high returns for the ones we do represent.

Do I have your attention now?

So the numbers look great, you’re probably thinking, but now you want to know the “how”, as in, how are we able to deliver so much value for our clients?

Manny S., our director of partnerships, says that the answer is actually pretty simple. “It mainly boils down to the financial services vertical being so heavily researched. Hardly any consumers sign a contract about anything finance-related without doing extensive research.”

That means that we’re able to find customers at the top of the purchase funnel and then follow them through their entire buying journey.

Adds Manny, “Through our partnerships with publishers like Business Insider and Motley Fool, we’re able to leverage content to find these shoppers at the top of the funnel and then we do a good job of adding middle to bottom of funnel affiliates as well to beat out competitors offering the same service.”

And while that sales strategy is an extremely important part of our success in this space, financial services companies also benefit from being very popular with the affiliates we work with.

Kelson B, our director of sales, explains “Financial services typically fall under multiple sub-verticals, such as business, electronics, software and tech, which means that they’re able to attract a lot of affiliates in different subcategories. Additionally, many of them are larger companies who already have a significant online presence which also makes affiliates excited to work with them, and because they generally sell non-tangible products like software, they have healthier margins which means we can make better deals with our affiliates, which motivates them to work harder and sell more. It’s a scenario where really everyone wins.”

Ok, you’re thinking, that all sounds pretty good, but my industry is heavily regulated, so how do I know that you’re not going to run a campaign that’s going to get me in trouble?

It’s a fair question, and the answer is that another key advantage we offer is that our account managers understand not just your sales needs but your regulatory ones as well.

“One of the main issues that these brands are concerned with is the heavy level of regulation they face, which means that they have to tread cautiously,” says our business development manager Tim P. “We’ve built and managed many of these programs without issue. Put simply, we make sure we’re working with good affiliates that have a proven track record in their vertical. We clearly communicate to them the parameters they need to stay within, monitor them and we can approve of any content before it’s released.”

And that’s it. That’s the whole pitch. It’s not that complicated because it doesn’t need to be. We understand the market better than any other agency and we know how to stay within the lines of all of the regulations that you have to deal with.

So to go back to our original question, maybe you don’t need an affiliate marketing campaign, but we have over one hundred million reasons why it’s probably a good idea.

 

Are you getting started in affiliate marketing or looking to improve your current program?

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