international performance marketing awards 2018

Share Results shortlisted in the International Performance Marketing Awards 2018

By | Affiliate Program, Network, Program Optimisation, Promotions | No Comments

We are happy to announce that Share Results has been shortlisted in the International Performance Marketing Awards 2018. Our team is honored to be recognized by other leaders in our industry for the work we do for financial institutions.

If you are unfamiliar with the International Performance Marketing Awards, it’s an annual award ceremony which showcases outstanding works achieved around the globe. Awards are open to advertisers, publishers, media owners, agencies, networks, startups, technology providers or individuals in the performance marketing sector. Now, in its 12th year, the leading international award ceremony is a gathering of industry professionals held in London.

The awards show holds different categories such as Best Full-Service Affiliate Network, Best SaaS Platform, Best CPA Network, Best Performance Marketing Technology, Best Performance Marketing Agency, Industry Choice of Network, Industry Choice of Technology, Industry Choice of Agency, and more. Entries are collected and shortlisted earlier in the year by an independent international judging panel of carefully selected individuals who score and vote based on criteria from each category.

Due to our highly successful campaign with ScotiaBank, in December 2017, Share Results has been shortlisted as a finalist in the USA (and Canada): Best Performance Marketing Campaign or Strategy category. To qualify as a top performer, campaigns must demonstrate the use of data, creativity and innovation, feasibility, smart execution, effectiveness and ROI.

Our nomination was the result of our partnership with ScotiaBank, who we ran an exclusive campaign with to drive the digital sales growth of their credit card products. Utilising comprehensive data and historical trends from the Share Results’ platform and the expertise of the affiliate team, this campaign was designed to engage both the customer and publisher and yield a lucrative ROI.  The campaign offered customers an improved sign-up experience, while motivating affiliates to capitalize on improved performance. A major part of the success of the campaign is attributed to the creative combination of channels, offers and applications Share Results implemented.

Developing a strong affiliate marketing strategy with set goals allowed us to execute a successful campaign. The campaign results exceeded expectations and surpassed the acquisition target set for the products by 111.08%. It was a major success and December’s total approval volumes were 95.01% greater than the year-to-date program average. Traffic and conversion rates also increased significantly, meeting the set objectives.

This campaign really demonstrated that having a marketing strategy for your affiliate program can really enable you to be competitive among other brands, know where your customers are, and align you with the overall marketing goals. Read more about the pillars of affiliate marketing strategy to optimize your results.

We are excited to be selected as one of the finalists and we look forward to the unveiling of the winner. In the rapidly evolving world of affiliate marketing, Share Results consistently looks for ways to push affiliate marketing to new levels.

“With over 400 industry professionals attending the award ceremony, celebrating innovation, creativity, and success, Share Results is honoured to showcase our year of efforts and support the industry of affiliate and performance marketing.”

  • Alana Levine, COO, Share Results

The winners were recently announced and included for example winner Shoptimised as Best SaaS Platform,  in what judges called “a genius idea”. “Shoptimised SaaS platform enabled retailers, brands and agencies to fully optimise Google’s Product Feeds, cutting out the assistance of clients or developers”.  We were honored to be judged against such high calibre affiliate networks and programs.

Three Facts About Credit Cards and Banking Products in Affiliate Marketing

By | Affiliate Program, Digital Marketing, Network, Online Marketing Ideas | No Comments

In the digital age, affiliate marketing has become a great way to earn money online. Yet, finding products that convert and pay a good commission isn’t always easy. As an affiliate, if you want to maximize your income potential it’s important to choose a topic or niche you know is going to be in demand and can be monetized.

That said, one niche market that is flush with business opportunities and high commission earnings is personal finance. This is particularly true when it comes to credit cards, which is a growing niche. The combination in the rise of online stores and savvy shoppers has led to people becoming comfortable with making purchases online. At the same time there has been an increase in demand for credit cards and so it is hardly surprising that credit card affiliate programs are becoming increasingly more popular. At Share Results we’ve seen the number of credit card applications increase by 44.4% compared to last year.  New affiliates promoting credit cards has also grown but it is becoming increasingly evident when looking at the results for specific affiliates and comparing the number of applications to last year that the number of people applying for credit cards is growing.

To be a profitable and successful affiliate, it is important to understand whether a product is relevant to your content and to choose an affiliate program that provides the most relevant ads for your website. Read on to find out why promoting credit cards is worth considering and whether signing up to a credit card affiliate program is right for you.

The Increase in Demand for Credit Cards

When it comes to credit cards, it appears to be a market that won’t stop growing, as increasingly more people are applying for credit cards. In 2017, there were 3 million MasterCard and VISA credit cards in circulation, according to the Canadian Bankers Association. This is equivalent to an average of 2.6 cards per adult.

Everyday, countless people are searching online for the best credit card rewards programs, or even where they can apply for their first credit card. This is a great opportunity to create a niche site providing content to help people choose the right credit card, but also make money from those referrals.

Thus, if you’re interested in earning money from your website or you’ve already put effort into building a personal finance website with substantial traffic, then promoting credit cards could be an amazing opportunity.

It is a competitive niche with lucrative payouts, and although comparison sites or affiliates who blog specifically about credit cards have good conversion rates, lifestyle and travel related affiliates also successfully promote credit cards to make a good income.  It’s a matter of looking at your audience and choosing to promote the right credit card. Let’s say you have a travel-related website, a good option would be to promote credit cards such as Scotiabank’s Passport Visa Infinite Card, that offer reward points for the purchase of flight or hotel bookings.

Likewise, if you have a food, car or furniture blog, you can monetize your website traffic by promoting credit cards, like Tangerine’s Money-Back Credit Card that offers rewards for the purchase of groceries, gas or furniture.

Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

Nowadays, there are credit cards for every need and Share Results sees a growth of around 30% year on year for our credit card products. Thus, whether your website is about student life, movie reviews, or fashion, good chances are that you’ll be able to promote various credit cards that fit your audiences needs or wants.

Credit Cards Affiliate Programs Offer Higher Commissions

There are many affiliate programs and networks out there, so choosing the right one with the right product(s) is key.  For instance, Amazon’s affiliate program offers anywhere from 1% to 10%, with most of the other categories under 5%. Therefore, to maximize your earning potential, you need to send a high volume of traffic to these products or hopefully find a product from which you can make a higher commission.

Financial products such as credit cards have higher than average affiliate commission rates. Banks usually offer a flat CPA rate for every approved customer you send.  It can range from $50 to $100+. Plus, from time to time, affiliates are eligible for special incentive campaigns with bonus payouts in addition to the flat rates. Some financial institutions also run special promotions to attract more customers via the affiliate channel. It might be a $50 gift card that is offered to the customer once they are approved. As a result, affiliates see an increase in applications for credit cards and often see an increase in commission revenue when these types of promotions take place.

With higher than average commissions, credit cards are worthwhile products to explore as an affiliate. It’s simple to advertise, plus it’s free to try. Just think a little outside the box, to find unique angles to promote and test them out.

There Are Many Financial Affiliate Products/Services to Choose From

There are all different kinds of financial products to choose from and it might be that you decide to test out different credit cards to see which ones work the best with your audience. Or it might be you find that credit cards aren’t the right match. There are so many products to choose from.

Share Results offer credit cards, chequing and saving accounts as well as pre-paid cards and credit reports. Choose products/services that align with your content and thus are likely to convert. Build quality traffic with an audience who are interested in your topics and who will revisit your website. From there you can expand your website to include more subtopics and add more products.

If you’ve enjoyed this read, visit our website for other articles and our affiliate network.

stock image

The value of turnkey financial affiliate tracking software and how it solves your measurement problems

By | Affiliate Program, Affiliate Tracking Software, Key Features, Mobile Tracking, Network, Payment Processing | No Comments

These days, data is essential when you are looking to measure the effectiveness of your marketing efforts. When investing marketing dollars, it is important to understand which channels and campaigns are performing best, based on your chosen metrics of success. This requires the ability to track and report the customer journey to identify where the customer came from, and how and when they ultimately converted.

Understanding the customer journey to craft a seamless experience using data is becoming the essence of digital marketing, according to Forbes. Adding to that, eMarketer reveals that better reporting, measurement or attribution command the most attention in 2018, according to US senior marketing professionals. That said, tracking traffic with advanced analytics tools is becoming more important than ever since it allows you to make well-calculated marketing decisions.

Since you need to collect and analyze data to fine-tune your marketing strategy, a turnkey tracking software with financial performance-based metrics should be something to consider if you are looking to improve your conversion rate. This type of software is easy to use but is also regularly updated to improve user experience (UX).

Read on to find out how affiliate tracking can help you solve your measurement problems and save time and marketing dollars.

It shows and calculates transactions for you to view and approve.

Though there are countless digital marketing tracking platforms out there, like Google Analytics, very few provide you with the data necessary for a financial affiliate program. Most analytic tools lack the capability to provide you with useful data such as CPA (Cost per Action) commission, transaction status, current balance, and approved sales figures.

In addition to providing insightful data, a good financial affiliate marketing software lets you visualize the performance of important metrics over time and allows you to review your payouts on a daily, weekly, monthly, and month-to-date basis.

It has a pre-built platform with an easy-to-navigate dashboard.

The advantage of a platform with a well-designed dashboard is that it lets you look at all key figures and view a summary of the account across all affiliates, which allows you to keep track of who is performing well and identify your top affiliates. In addition, period comparison lets you view the performance of key metrics of over time and identify your best creatives across all your products/services.

It provides traffic tracking, so you know your customer’s experience.

It’s important to understand what your customers are doing when something triggers the need or desire for your services. According to Google, “75% of marketers agree that lack of education and training on data and analytics is the biggest barrier to more business decisions being made based on data insights.”

Having a turnkey solution, which provides you with advanced analytics for insight-driven marketing, allows you to see which creatives are resonating with your customers by type and status, and makes it easy to know where your customers are in the buying cycle. This means you can keep pace with them, so you know if they are at the awareness, consideration or decision stage of their buying journey, and help them move from one stage of the sales cycle to the next, which can go long way to improving your conversion rates.

There Is Integration and Customization Support

If you have worked with affiliates in the past, then you know that they can provide their data in various formats, which can make it hard to integrate since different formats are not always compatible with all platforms. Keeping this in mind, if you do not want to transcribe the data manually, it is important to have an affiliate platform that supports automatic integration to make sure the data is properly converted. Share Results supports custom integration that converts data of all affiliates in a compatible format.

A turnkey financial affiliate tracking solution collects and provides you with data on standard traffic, transactions, and earnings analysis, but your business might need different metrics and/or visuals, so it is possible to complete an affiliate marketing management program with account management capabilities to customize your reports.

Takeaway:

Consumer insight and data are becoming more important than ever. Therefore, if you are looking to improve your conversion rate, a turnkey financial affiliate tracking software with financial performance-based metrics is certainly something to consider, as it allows you to work smarter and not harder.

Pillars of Affiliate Marketing Strategy: 4 Key strategies for a successful affiliate marketing program

By | Affiliate Program, Digital Marketing, Miscellaneous, Network, Promotions | No Comments

Have you thought about launching an affiliate marketing program for your financial services company but aren’t sure how to get started? We hear you. Launching an affiliate marketing program can seem daunting— but it doesn’t have to be.

To prove it we’ve put together:

  • Tips on what to do before you pilot your plan
  • 4 key strategies for making it work

Alignment & Focus

According to eMarketer affiliate marketing is forecasted to have a 62% increase in US retail spending between 2015 and 2020. In fact, affiliate marketing’s scalability and measurability are part of what make is so attractive (and effective).

But, before piloting your plan you need to make sure the target end results align with your defined business goals. Start by asking the right questions. Smart Insights’ interview with author Geno Prussokov nicely summarizes the top 5 questions to ask when crafting your affiliate strategy:

  1. What is the primary end consumer action (sale, lead, subscription, etc.) that you want to facilitate through affiliates?
  2. What types of affiliate marketers are you most interested in recruiting?
  3. Who will manage your affiliate program?
  4. What key performance indicators will you use to measure your campaign performance?
  5. How will your affiliate program become (and stay) attractive and competitive through commission arrangements and other incentives?

Now, consider your affiliate channel—instead of viewing it as competition for the same market with your other marketing channels, focus your strategy on increasing the size of a new market using a performance-partnership model. Or, as Robert Glazer describes it in his article on Entrepreneur:

“Rather than compete for bigger slices of the pie, the affiliate marketing model requires both sides to work toward increasing the size of the pie as a whole and allowing many options for customization.”

4 Key Strategies

Once you establish business alignment and areas of focus you’ll have the groundwork for planning your affiliate marketing strategy.

Use these 4 key strategies to optimize your results:

  1. Measure real time performance now where your customers are
  • Know where your customers are coming from. Tracking which sites are generating traffic and customers, and which aren’t proves the ROI of your marketing spend. With ShareResults you can customize the integration of the reporting from an affiliate to you—so you can analyze data the way that makes sense for your business
  • Know which affiliate campaign and tactics are performing to see what affiliates are doing to drive performance
  • Be responsive to affiliates and their marketing needs to ensure results through regular account management
  1. Recruit quality affiliates who align with your target market and target audience
  • Leverage the affiliates’ audience to promote your product. For example, the affiliates’ website could provide value through comparison tools, content insights, and 3rd party reviews to create a following. This following and established trust with the audience can resonate with your product/service enhancing your brand.
  • Try geo-targeting if your product or service is available at specific locations, recruit affiliates with an audience in those areas
  1. Use a commission structure that drives your business objectives

There are plenty of commission options depending on what your business is trying to achieve. Some options ShareResults offers are:

  • Flat or tiered CPA/CPL
  • Revenue share or CPA at a product level
  • And multi-tier referral commission

If you have a high value product, revenue share or higher CPA for that specific product might make sense. If you want to boost all sales, a tiered CPA can have greater incentives.

  1. Launch promotional campaigns to increase the participation of affiliates
  • Spearhead a campaign to attract affiliates to come onboard to promote your product/service.
  • Incentivize new affiliate programs to feature a product/service by offering a special bonus.

Follow these steps and strategies and you’ll be well on your way to a successful affiliate marketing program.

Still have questions or want to learn more about how ShareResults can help you with your affiliate marketing strategy? Contact us; we’d love to hear from you.

Omni channel in digital banking environment

What you need to know about omni-channel in a digital banking environment

By | Digital Marketing, Marketing Trends | No Comments

In today’s world, consumers are constantly browsing, researching, discussing, and purchasing products – and across a range of digital platforms. And each platform or channel serves a different purpose. For example, Facebook is the place to go for user reviews and to give feedback. Emails serve to stay informed without having to go searching for information.

It is important for brands to recognize the purpose that each channel serves for the user and to stay present in a relevant and congruent way. So what makes omni-channel marketing and brand congruency so important? Read on to find out more!

What is omni-channel and how is that different from multi-channel?

Multi-channel refers to the interactions customers have during their buying process using various channels. These can include websites, e-mail, social media, mobile, and retail stores. The channels operate independently from each other and are siloed. The information presented on each channel are not integrated and can vary. Omni-channel marketing is when a customer receives a seamless and consistent brand experience across all channels and devices at every point of interaction. What they see on Twitter feels the same as when they saw an ad on YouTube.

Does omni-channel mean crafting your strategy channel-by-channel?

Not at all. Unlike multi-channel that places the channel at the centre of the strategy, omni-channel places the customer at the centre. Communications on all channels are optimized to deliver an integrated experience based on customers’ preferences. Omni-channel crafts a connected journey that looks something like this:

  1. A customer starts a search on Google and visits the company’s webpage on a desktop.
  2. He/she also receives an email about a special introductory offer for new sign-ups and views it on mobile.
  3. He/she then decides to go to the retail store to find out more from an associate.
  4. Later, search and display ads are shown on social media on a tablet with similar products that the customer has been searching for.

Information flows from one touchpoint to the next, and moves the customer down the path of purchase.

What are some tips to implement an omni-channel strategy?

We’ve put together a few recommendations we’ve gathered from trusted resources in the industry:

  1. Focus on the experience that can connect consumers on each channel, rather than trying to get onto every channel (Martech Today).
  2. Get a single view of the customer across all channels. This helps to micro-segment your customers and find patterns between different types of users that have similar behaviors.
  3. Deliver consistent, user-friendly, and relevant experiences across all channels.
  4. According to eMarketer, a primary barrier to implementing a successful data-driven customer experience is not being able to connect or deliver a unified view of the customer experience across touchpoints. Sophisticated data analysis becomes essential as customers increasingly move into omni-channel, where data of consumer behaviour, traffic, and points of interactions span across digital and offline channels.

The rise of omni-digital banking

With the switch to using digital channels for banking, adapting an omni-channel strategy to integrate the digital and physical channels is no longer adequate to meet the demand in the financial service industry. In fact, according to PwC, there is a new segment of “omni-digital” consumers, comprising of 46% of the respondents. These consumers use digital-only channels when it comes to banking, avoiding the physical channels completely.

Mobile banking is also becoming the norm. 60% of the smartphone users in the survey use mobile banking and 82% of the smartphone users age 18 to 24 use mobile banking. This is not to say that branches can no longer provide value. 62% of the surveyed indicated that local branches are still important. Services for budgeting, saving for retirement, and learning how to save for a house are preferred in-person.

rise_of_omni_digital_banking

The rise of the omni-digital banking consumer
Source: PWC’s 2017 Digital Banking Consumer Survey

How can organizations keep up with the omni-channel and omni-digital consumer expectations?

PwC advises that banks have to sell products where people want them. Every channel should provide its own value as part of the strategy. To connect and engage with customers at every touchpoint, a unique customer digital experience has to be developed according to insights.

If consumers want to access a service in front of their desk, organizations should be ready to have the particular service available and reach customers at that point in time.

Want to know more?

At the Digital Marketing for Financial Services Summit in Toronto, Nicky Senyard, Share Results CEO, and  and Yuli Shumsky, Director of Digital Marketing and Operations at CIBC,  presented a panel on Developing an Omni-channel Strategy for Your Financial Brand.

 

Creditcardgenius unveils best Canadian Credit Cards of 2018

The 2018 credit card winners are in: Creditcardgenius unveils best Canadian Credit Cards of 2018

By | Miscellaneous | No Comments

Excellence is its Own Reward…

There’s no greater reward than being acknowledged for excellence. Which is why, we’re excited to share that not one, but two of our partner merchants—Scotiabank and Tangerine recently made creditcardgenius’ coveted “Best Canadian Credit Cards of 2018” list. Credit cards competed across 18 categories such as “Best Cash Back”, “Best Air Miles” and “Best Balance Transfer” for a place on the list.

Scotiabank won awards for Best Store Credit Card for the GM® Visa Infinite (noted as being especially good for GM car lovers offering up to 5% off your next GM vehicle) and Best Foreign Exchange Credit Card for the Passport Visa Infinite card which has no foreign exchange fee and an average 1.25% return on spending.

Tangerine won Best No-Fee Cash Back Credit Card for their Money-Back Credit Card that delivers “an impressive 2% cash back in any two spending categories you choose” (and has over 15 categories to choose from).

Objective & Unbiased Comparisons

With a commitment to providing objective and unbiased credit card comparisons, creditcardgenius (our affiliate partner) helps Canadians make informed choices by providing comprehensive credit card reviews—tracking and comparing over 50 features of more than 160 Canadian credit cards.

Here are just a few of the more than 50 features used for comparison:

  • Rewards
  • Fees
  • Insurance
  • Interest
  • Perks
  • Approval
  • And acceptance

Partners in Success

Congratulations to our award-winning partner merchants, Scotiabank and Tangerine! We’re proud of your achievements and continue to dedicate ourselves to helping finance-based merchants enhance their traffic, sales revenue, and digital marketing strategies. Readers can view the full list of winners along with ratings and comparison tools here.

 

CIBC AC Conversion™ Card

Promote CIBC AC Conversion™ Card through the Share Results Affiliate Platform

By | Miscellaneous | No Comments

For all our travel and credit card affiliates out there, we are excited to announce a new product available on the Share Results Network – the CIBC AC Conversion™ Card!

We are pleased to be working with the CIBC Capital Markets team to build exposure of their global currency prepaid visa card.

Here’s what you need to know about the AC Conversion™ VISA Prepaid Card:

 

  • Users can easily store multiple currencies.

The card can store up to 10 currencies– the first card of its kind!

Take advantage of the exchange rate at the time of loading the card. The currencies include Canadian Dollars, US Dollars, Euros, British Pounds, Australian Dollars, Japanese Yen, Hong Kong Dollars, Turkish Lira, Swiss Franc and Mexican Pesos.

These rates are fixed when you purchase the currencies and are from CIBC’s live streaming interbank rates.

CIBC AC Conversion™ Card

Promote CIBC AC Conversion™ Card through the Share Results Affiliate Platform

  • Users can manage the card through their online account.

For customers needing to make a purchase or pay for a restaurant bill on the go, they can easily access the product through the web or mobile app and top up their account immediately.

Users can load any amount between $100 to $2999.99 CAD per transaction. The maximum balance is $20,000.

  • Easily apply and get approved through the digital application.

Because users need to make a deposit equal to or more than the amount they will spend, this makes the application easier to approve than a credit card. There is no credit check and no bank account required.

  • While it is convenient like cash, it is secure like a credit/debit card.

The card has the Chip and PIN technology for verification. There are also daily point of sale and ATM withdrawal transaction limits to prevent fraud. Emergency card replacement and emergency cash are other services available.

  •  It is supported across 45 countries.

It can be used anywhere VISA payments are accepted.

  •  No risk of accruing debt.

Users are drawing money that have been deposited. They cannot overspend and there are no interests.

  • Canadians are eligible.

To apply for the card, users must be a permanent resident of Canada, have a Canadian address and be the age of the majority in their respective province.

Start promoting now!

Join the CIBC AC Conversion™ merchant in the Share Results Network now to promote the card and earn commissions for approved customers!

Not yet a member of the CIBC AC Conversion™ Affiliate Program? Find out more about the offer and product here.

benefits of affiliate marketing for financial products

5 Benefits of Using Affiliate Marketing for Your Financial Products and Services

By | Affiliate Program, Affiliate Tracking Software, Digital Marketing, Network | No Comments

Performance marketing is one of many channels of digital marketing. If you are an advertiser that is familiar with this approach to advertising, you may appreciate that participating in affiliate networks connects you to a vast pool of expert marketers and publishers that focus on very niche content areas.

What makes this so interesting is that niche marketers become experts in their subject matter, and are seen as trusted sources of information for their audience. They are also active marketers that leverage various tactics like search-engine optimization to ensure their site is as visible as possible to their target audience. According to an article by Entrepreneur, it is affiliate marketing’s targeted and timely content that allows brands to stay relevant and engage target customers.

If you are unsure whether performance marketing is right for your business, here are five more reasons to consider:

Performance marketing is cost-efficient

  • Since affiliate marketing operates on a cost-per-action performance based basis, the advertiser only pays for qualifying actions, such as per sale. It’s a low cost marketing channel with minimal initial capital.
  • We recommend a commission structure that aligns with your business objectives. For example, maximize the number of sales by increasing the amount of incentives once a target number is reached. We don’t advise paying out a large incentive to get started and then lowering it after.

Affiliates offer niche, grassroots marketing

  • Affiliate marketing targets a specific audience. Share Results have affiliates segmented in the Canadian and US markets as their key demographics. Customers visiting affiliates’ sites are also highly engaged because they have their interests aligned. For example, customers going to a credit card comparison site or searching for an interest rate calculator tool are also looking their next credit card. These are your target audience with needs in financial products and services.
  • Key Stats: Share Results 2018 Q1 conversion rate for all financial products reached 27%.

Easily track results

  • Advertisers can benefit from traffic monitoring and reporting. You can track any variables from website visitors, impressions, click-through-ratios, clicks, registrations, conversions, transaction status, approval ratios, commission amount, etc. These are valuable information that give you details of the customer journey, whether they are in the top, middle or bottom of the marketing funnel. They also give insights on how well each campaign is doing and whether a strategy or tactic is performing.

share results Easily track results

Easy to maintain

  • Since sales are generated by affiliates, you don’t have to invest time and resources into building additional campaigns. Affiliate networks are fast ways to scale your marketing efforts. Affiliates’ website, its user experience, and campaign appeal are all important factors to engage customers and affiliates have to be skilled in those areas as well as having the target audience and market fit. The success factors are finding this fit and developing and nurturing these partnerships. You can either manage it yourself or through an agency with all-in-one affiliate management services.

Generate additional conversions from cross selling

  • Many affiliates have tools and information regarding a range of financial products and services. This builds a customer journey that maximizes lifetime value. Having a vast affiliate network also allows for complementary affiliates to cross sell your products and services. For example, placing travel credit cards on travel or airline booking affiliate sites can increase the chances of selling to existing customers, who are much easier to attract than new prospects.

 

Part 1: Top 3 KPIs to Drive Financial Affiliate Program Growth

By | Affiliate Program, Analytics, Digital Marketing, Miscellaneous, Program Optimisation | No Comments

Face it; running an affiliate program can be time-intensive. Whether you’re a marketing manager directly overseeing your campaign, are using an outsourced solution or a combination of both—understanding and focusing on the right key performance indicators (KPIs) from the start can mean the difference between a successful versus a not-so-successful affiliate program.

In this article we share our top three KPIs for driving financial affiliate program growth to help you optimize your performance and spend your efforts in the right areas. We’ll also walk you through what each indicator means, why it matters and how to use it to grow your program. Ready? Let’s get started.

#1. CONVERSION RATE

What it is

The IAB (Interactive Advertising Bureau) provides one of the simplest definitions for conversion rate as “the percentage of users who complete a desired action.” Typically reported on monthly, conversion rate is calculated by dividing the number of leads by the number of clicks (number of leads ÷ number of clicks = conversion rate).

Why it Matters

By measuring clicks against desired customer action, conversion rate puts clicks into context thereby making it more valuable (and informative) than click rate data alone.

Tracking conversion rate will help you:

Identify your most lucrative partners, showing which affiliate partnerships and campaigns bring in the best traffic so you know where to invest in expanding.
Identify your most lucrative digital channels, because you can compare a standardized rate across channels against affiliate channels.
Identify high potential affiliates, that may only need small adjustments to their program to yield big payoff

How to use it to help grow your program

You can use conversion rate to help you identify breaks in your customer journey and show you areas for improvement. Very low click rates may signal poor ad placement and/or execution or the need for landing page optimization. Making necessary adjustments can prevent losing valuable clicks that could become leads and ultimately convert to sales.

Other ways you can use conversion rate are to:

Compare high versus low conversion rate affiliate promotions, to see which placement types and techniques best drive leads for your business (ex. placement, ad, information presented, traffic demographic)
Identify high traffic, low conversion rate affiliates as high potential and target your efforts to these affiliates to improve their promotional efforts and customer experience
Gauge promotion and landing page impact on prospect interest level at various points in the customer journey.

But, don’t rely solely on conversion rate alone; use it in tandem with the next KPI—approval rate to gain deeper insights into your affiliate program performance.

#2. APPROVAL RATE

What it Is

Approval rate is defined as the percentage of approvals for a particular product such as credit cards that require a screening process. Typically reported on monthly, approval rate is calculated by dividing the number of approvals by the number of leads (number of approvals ÷ number of leads = approval rate).

Why it Matters

While a high volume of leads can be the sign of a healthy program, approval rate comes into play when the desired outcome is qualified prospects that become customers.

Approval rate compliments conversion rate by:

Showing the quality of leads—adding dimension and value to conversion rate numbers. A high conversion rate without a fair approval rate is not necessarily delivering value.
Helping identify the most lucrative partners and digital channels. Much like conversion rate, approval rate shows you where to best invest your energy.
Telling a more complete story, of where to focus your partnership cultivation and program growth efforts.
Giving a greater degree of targeting. A low conversion rate but high approval rate is an even more targeted way to identify and segment high potential affiliates.

How to use it to help grow your program

A low approval rate may signal a mismatch between the product offering and the affiliate audience it’s being offered to. Use this opportunity to correct course; communicate the target customer profile to your affiliate so that they can adjust their messaging and positioning.

Approval rating can also be used to:

Help affiliate managers work with an affiliate, to better understand their audience demographics and give strategic recommendations on more suitable products.
Evaluate affiliate’s ability to drive targeted and quality traffic. Instead of changing the product side, you can work with the affiliate on its traffic acquisition efforts to generate more targeted leads
Guide positioning changes or improve product information on the site for better alignment with the product. This increases the chances that the affiliate is ready to convert when gets redirected from click.
Identify lack of landing page optimization. A high conversion rate but low approval rate can signal where the origin of the low approvals may lie (i.e. too many steps in the buyer journey which is leading to bouncing).

In contrast to conversion rate, approval rate is a more specific quality metric pointing to the fit of the affiliate’s site and its traffic, with the product. Be sure to assess the brand fit on product-level and partnership-level and look at the affiliate’s method of acquiring and screening traffic.

Look closely at cases where approval rating is really low to avoid a poor fit that could potentially hurt your reputation. Make sure to monitor the messaging of the promotion to ensure it is accurate and not misleading. Depending on the situation, it may be worth re-assessing the partnership as a whole for alignment with the affiliate’s brand and yours.

Or, very low approval rate may signal that it’s time to sever the partnership altogether rather than continuing to invest heavily in an unfruitful partnership. Re-allocate your resources and time into more promising relationships. Looking at approval rate together with our next KPI—program growth – can help you make this decision.

Watch this space to read all about the third very important KPI that is key to driving the growth of your financial affiliate program! Part 2 is coming soon.

Want to know more about how to implement these KPIs using the Share Results platform? Get in touch!

Scotiabank Passport™ Visa Infinite* Credit Card

Scotiabank’s New Passport™ Visa Infinite* Credit Card Is Here!

By | Affiliate Program, Promotions | No Comments

Calling all travellers! Share Results and Scotiabank are excited to announce the hottest new no FX mark-up credit card, the Scotiabank Passport™ Visa Infinite* Card. Read on to find out more about the card and how you can start promoting through the Scotiabank Affiliate Program.

What you need to know

The latest card to join Scotiabank’s extensive suite of credit cards boasts valuable travel benefits and rewards on everyday purchases.

Travel Perks

The card is as packed with travel benefits as is the suitcase for your next trip. Users receive complimentary airport lounge access with a Priority Pass™ membership and an extra six free visits per year from the date of enrolment. Traveling by car? You can benefit from the complimentary Avis® Preferred Plus membership.
Travelers also have the Visa Infinite Concierge and Luxury Hotel Collection at their disposal granting them cherished travel perks to create the perfect getaway. Have a 24/7 Concierge service on the ready and access VIP guest statuses, room upgrades and more at over 900 luxury hotels around the globe.
Enjoy no Foreign Currency Conversion mark-up on international purchases. Only the exchange rate applies whether you are spending abroad or making foreign currency purchases online.

Scotiabank Passport™ Visa Infinite* Credit Card

Scotiabank’s New Passport™ Visa Infinite* Credit Card

Travel Protection

Beyond travelling comfortably and economically, users can rest assured with the card’s comprehensive travel protection benefits. They’ll receive wide-ranging travel insurance coverage from medical emergency, to trip cancellation, to hotel burglary and more.
The Scotiabank Passport™ Visa Infinite* Card can not only keep up with its users’ globe-trotting adventures, but it can help them book their next trip. Collect rewards on everyday purchases to redeem for trips to any destination you wish, without travel restrictions. Take advantage of the Scotia Rewards Travel Service to book trips and receive the Best Price Guarantee on airfare.

Rewards at home

Perhaps your readers are thinking of a staycation instead? No need to enjoy travel rewards exclusively; your users can redeem Scotia Rewards points on a selection of merchandise and gifts or by converting them to SCENE points.
Whether shopping thousands of miles away or in the comfort of their home, the card gives users extra coverage. With it, users are covered under Price Protection service and Purchase Security & Extended Warranty Protection, protecting the items you purchase – terms and conditions apply.
Get rewarded for shopping. Earn 2 Scotia Rewards points on every $1 you spend on eligible grocery stores, dining, entertainment purchases, and daily transit purchases on the first $50,000 annually. Earn 1 point thereafter, and for all other eligible purchases.

Generous welcome offer

Appropriately called the Scotiabank Passport™ Visa Infinite* Card, this is a travel must-have you don’t want to go abroad without.
For a $139 annual fee, your readers can apply for the card today and receive 25,000 bonus points on the first $1,000 worth of purchases in the first 3 months as part of the welcome offer.

Start promoting!

This is credit card bursting with benefits for anyone who enjoys rewards. Now launched in our Scotiabank Credit Card Program, start promoting this card and get in on the rewards as well. Get in touch with your affiliate manager today to get started!