Fintech affiliate programs not only create earning opportunities for online trading entrepreneurs but also help a company extend its services to more people. These programs were popularized for the first time in 1996, when Jeff Bezos, the founder and CEO of Amazon, used them for the marketing of his platform. As an example of the effectiveness of this strategy, note that Amazon is now the largest trading site in the world and currently has more than 500,000 fintech affiliates.
Affiliate programs are also called associate programs because both parties reap benefits in this sort of marketing. Every potential client that an affiliate sends to the fintech site is called a "lead". For every lead (or every lead that invests a certain minimum amount), the affiliate gets a commission. The exact amount of this commission varies from program to program.
Getting financial affiliates is a good way to increase your company's popularity. Since affiliates get paid only when they generate leads, they will work harder to optimize their advertising efforts. Generous commissions make the plan all the more appealing. In this regard, it is important to know about the parties that are involved in a fintech affiliate program transaction, which are as follows.
- The client or lead
- The online trading affiliate's site
- The fintech company's site
Something so amazing about such a program is that the above-mentioned parties are like "partners" in a business. The company and its affiliates make it possible for the client to conduct trades. On the other hand, when the client earns a profit, so do the other two.