In a pioneering initiative, Fintel Connect, a frontrunner in partner marketing solutions for the fintech and banking sectors, has released its “Financial Industry Affiliate Marketing Report 2024.” This comprehensive document is the first to specifically address affiliate marketing dynamics within North America’s financial domain.
The report compiles feedback and data from over 110 affiliates, influencers, and publishers, each serving unique segments in the retail and business spheres of fintech and banking. It offers a meticulous breakdown of consumer trends, product focuses, marketing innovations, and prevalent industry hurdles, providing valuable insights particularly pertinent to small business owners and solopreneurs navigating these areas.
A notable section of the report is the analysis of affiliate perspectives in both retail and business markets, pinpointing similarities and discrepancies that could inform strategic decisions. Nicky Senyard, CEO of Fintel Connect, remarked, “The affiliate marketing ecosystem in financial services is unique. As a highly regulated, vertically-integrated industry, it deserves a deeper dive into the trends that are shaping it. We are in a unique position to draw out these insights by surveying those with the closest pulse on the market – affiliates exclusive to this area. We’re excited for this to be the first of many reports that gives marketers in the fintech and banking space a deeper understanding of the affiliate landscape and market in order to build more meaningful partnerships.”
Key highlights from the report include:
- Consumer Product Trends: Canadian affiliates foresee credit cards as the primary growth area, while their U.S. counterparts project an uptick in interest towards investments.
- Business Product Trends: American publishers expect a sustained demand for loans, whereas Canadian affiliates predict payment solutions will be highly sought after.
- Expanding Horizons: Across both nations, affiliates are increasingly focusing on well-established digital product categories such as credit cards and savings accounts.
- Prioritized Marketing Tactics: A considerable number of U.S. publishers are leaning towards video content as a key promotional tool, while Canadians are likely to enhance their strategies with email marketing.
- Benefits of Affiliate Marketing: Uniformly, survey respondents believe their chief contribution to banks and fintech companies is facilitating cost-effective acquisition.
This document not only serves as a vital resource for understanding current trends but also helps predict future movements within the affiliate marketing sphere in the financial industry, enabling better strategic planning and partnership development for small business owners and solopreneurs involved in these sectors.
