Upgrading Influencers to Affiliates to Drive Account Sign Ups
Tactic — YouTube & Blog Affiliate Marketing: Partner up with micro YouTube influencers and bloggers in the financial space and provide them with affiliate links or a customized promo code. Creating an affiliate program will encourage influencers to produce high quality video content about your brand without having to sponsor every video, as there is now a financial incentive.
Tactic — Attract New Customers With a Promo: Include a promo with your affiliate link. Competitors such as Wealthsimple and KOHO are offering cash back bonuses for new customers. Encourage your affiliates to promote deals whenever they advertise their affiliate link to boost sales.
Track Affiliate Sales & Reward Your Affiliates: Use tools such as Voluum to track the performance of your affiliates and optimize your affiliate strategy. Reward high performing influencers with higher commission rates or offer additional benefits to build a strong relationship with your affiliate network.
Since January 2020, YouTube generated the highest volume of social site visits for both KOHO (54%) and Wealthsimple (41%).
To drive traffic from YouTube, Wealthsimple provides influencers with an affiliate link, which allows them to earn a commission for new sign ups.
An affiliate link is included in the video description: “https://ryanoscribner.com/wealthsimple” which includes the name of the influencer.
KOHO also has an affiliate program, where they provide influencers with a personalized promo code.
An affiliate link is included in the video description, as well as a sign up code “CHARLEEWAYNE”.
Every affiliate link in the YouTube video description includes a promo for customer acquisition:
$50 Free Cash
1.5% Cashback for 3 Months
$10K Managed for Free
Receive $10 If You Trade $100
KOHO worked with Jessica Moorhouse, a micro finance influencer, to create a blog post reviewing KOHO, which was accompanied by a YouTube video.
4.6K Views | 137 Engagements
In the blog post, Jessica Moorhouse included both a promo code and an affiliate link to get 1.50% cashback for 3 months.
The blog article also included detailed instructions on how to load funds into a KOHO account, and advertised KOHO Premium to upsell new and existing customers.
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