What is the right way to deal with microfinance organization offers?
Microfinance organization affiliate programs have a number of differences from other popular affiliate marketing trends When working with partners for microfinance organizations, it is necessary to choose more carefully the offers and the strategies that will be used to attract potential clients
Broad target audience
Modern microfinance organizations have minimum requirements for clients. To get a loan from a bank, a borrower needs to prove a stable income and provide the lender with a whole package of documents. When applying to a microfinance company, all this is not necessary. To get a microcredit, it is not necessary to be a citizen of the RF and have a permanent job Therefore, they have a much wider audience than banks. The chances of partners to attract clients are much higher. Due to the minimum number of requirements for clients, webmasters have a greater number of confirmed leads. This is important for people using paid traffic sources. Reducing barriers for customers helps increase the chance of achieving conversions.
Low application rate
Although simplified terms and conditions are provided to borrowers, the percentage of approved applications in the financial vertical is low. The acceptance rate in the affiliate programs of microfinance organizations ranges from 10 to 15%. Even if the total amount of traffic attracted to the site is large, only a small part of it will be confirmed. If the budget is calculated incorrectly or campaigns are set up improperly, the profit may be less than the costs.
High competition
Currently, the financial niche in affiliate marketing is one of the most competitive. But high competition makes it difficult for newcomers to enter this market. Those webmasters who know the needs of the target audience can succeed. To succeed in this business, you need to be able to work with different sources of traffic, be able to optimize advertising campaigns. People who do not have experience and the necessary knowledge run the risk of draining the budget and not making a profit.
Brand reputation
When working with microfinance organization offers, a webmaster should be able to choose the right brand. Give preference to those microfinance companies that offer borrowers the most favorable conditions and have good reviews. This will help to increase the level of upward mobility and reduce the risks that are associated with borrower rejections. You can find out which brands have the best conversion rate from the managers of affiliate networks.
Target audience composition
To work with microfinance organization offers was successful, the webmaster must understand the needs of the target audience. Clients from different categories are not interested in the same financial offers. Young families are usually interested in mortgage programs. People with small incomes prefer short-term microloans for small amounts. A webmaster should analyze the needs and demands of his audience.
No large investments, regular payments
Working with microfinance organization offers, you can receive regular income without making large investments. Modern affiliate programs offer transparent conditions to webmasters, allowing them to plan their income and work with minimal risks. To start working, it is not necessary to invest finances. It is enough to be able to correctly set up advertising campaigns and have basic knowledge of affiliate marketing. Audience he needs to regularly modernize advertising campaigns, adapting them to these needs.
Flexible approach to the choice of traffic sources and offers
Microfinance organization affiliate networks offer webmasters a choice that includes dozens of different offers. Work with such affiliate networks through a financial showcase that includes several programs. The webmaster has the opportunity to diversify risks to make a profit by providing a variety of offers. To attract customers, you can use various sources of traffic: popular social networks, advertising, email newsletters, etc. Microfinance organizations are not allowed to use all sources of traffic. Before launching a campaign, you should find out what the restrictions and rules of a particular affiliate networks are.
