What Is a Loan Affiliate Program?<\/h2>\n\n\n\n
Let\u2019s review the function of an affiliate program before we dive into the different types of networks out there. First, an affiliate program is a company that connects affiliates or publishers such as yourself with offers, or companies looking to acquire new consumers. As an affiliate you get to refer consumers to these \u2018offers\u2019 and earn a passive income stream where you earn a commission when visitors complete a qualifying action through your affiliate tracking link.<\/p>\n\n\n\n
Affiliate programs come in many industries and niches. A loan affiliate program enables you to make money on the side from people searching for a loan to help with everyday finances. For example, when users search online for loans, they type in queries like:<\/p>\n\n\n\n
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- Fast loans for rent<\/li>\n\n\n\n
- Small loans for car repairs<\/li>\n\n\n\n
- Debt relief for medical bills\u00a0<\/li>\n<\/ul>\n\n\n\n
Since people searching for loans usually have an immediate need, they\u2019re more likely to take quick action. This urgency means they\u2019ll get the help they need faster and <\/em>you\u2019ll get more consistent money in your pocket each month. <\/p>\n\n\n\n
What Is an Insurance Affiliate Program?<\/h2>\n\n\n\n
Unlike a loan affiliate program, an insurance affiliate program focuses on helping people sign up for a new insurance plan. They might be looking for travel insurance for an upcoming vacation or health insurance after having a child. <\/p>\n\n\n\n
Since insurance users are often comparing and researching insurance coverage rather than immediate financial needs, they\u2019re slower to buy. In the long-term, insurance affiliate marketing can be a good source of income, but it takes time to generate trust with site visitors.<\/p>\n\n\n\n
Understanding Search Intent & User Motivation<\/h2>\n\n\n\n
Generating affiliate traffic relies on SEO (short for search engine optimization). To bring visitors to your website or blog, you need to understand important fundamentals like search intent and user motivation. <\/p>\n\n\n\n
Search intent refers to the why behind the words or phrases someone types into a search engine. Marketing terms break up search intent into the following categories: <\/p>\n\n\n\n
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- Awareness (when someone recently learned of a problem they have)<\/li>\n\n\n\n
- Consideration (the research phase of comparing different options)<\/li>\n\n\n\n
- Commercial (getting close to a purchasing decision, but need a bit more research)<\/li>\n\n\n\n
- Transactional (seeking out a service or product to buy immediately)<\/li>\n<\/ul>\n\n\n\n
For example, let\u2019s look at one of the most common search terms for someone who needs a loan: emergency loan with bad credit. \u2018Emergency loan with bad credit\u2019 immediately suggests an urgent need due to the word \u2018emergency\u2019. It\u2019s also very specific, so this person isn\u2019t in the beginning stages of awareness or consideration.<\/p>\n\n\n\n
Insurance affiliate programs often use comparison-based keywords in the consideration phase with terms like \u2018best car insurance\u2019 or \u2018life insurance quotes\u2019. These decisions take longer because they have to take into account costs, coverage, and provider reputation.<\/p>\n\n\n
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<\/figure>\n<\/div>\n\n\nLoan vs Insurance: 3 Major Differences <\/h2>\n\n\n\n
Still wondering what else could make or break this side hustle for you? Let\u2019s break down the differences even further to get you closer to an affiliate program you feel confident joining. <\/p>\n\n\n\n
1. Conversion Action<\/h3>\n\n\n\n
When someone clicks on your affiliate link, they\u2019ll be taken to a page to complete their action. For loans, this usually looks like a loan request form, where you get paid for submission (\u201cper lead\u201d), not necessarily per loan. <\/p>\n\n\n\n
An insurance affiliate link usually leads to a quote form or provider match. Some links can lead to a policy purchase, but they require deep trust first.<\/p>\n\n\n\n
2. Trust Requirement<\/h3>\n\n\n\n
Loans still require trust to determine the validity of the loan provider, especially since these commitments come with fees or interest in the event of non-payment. However, immediate need can still propel action and get a conversion.<\/p>\n\n\n\n
Insurance affiliate programs require stronger brand trust due to their longer commitment over time. Buyers want to make sure their provider will be with them for years or the rest of their lives.<\/p>\n\n\n\n
3. Scalability<\/h3>\n\n\n\n
Loan affiliate programs may be easier to scale through high-intent search volume. Insurance affiliate programs, on the other hand, require more brand authority, which can take a lot of time to build.<\/p>\n\n\n\n
What Is the Earnings Per Click Potential?<\/h2>\n\n\n\n
If you\u2019re still torn between different options, let\u2019s talk earnings. You may find your decision easier to make once you see just how much you can make. <\/p>\n\n\n\n
Insurance Programs Have High Payouts, But Slow Growth<\/h3>\n\n\n\n
Valuable products like business insurance and health insurance tend to come with high payouts. You can change your earnings depending on policy types, quote quality, or whether or not each click turns into a new policyholder.<\/p>\n\n\n\n
However, this model is high reward and high risk. You won\u2019t see many large payouts if fewer users convert, which is common in the beginning stages as you build brand authority.<\/p>\n\n\n\n
Loan Programs Have Smaller Payouts, But Faster Growth<\/h3>\n\n\n\n
Loan affiliate programs have great earning potential because they produce reliable results by consistently lining up with search intent. Since users are already close to taking action, they\u2019re also quicker to click and fill out a form, too. <\/p>\n\n\n\n
To compare: insurance affiliate programs have higher payouts, but slower growth and more variable search traffic. Loan affiliate programs have shorter conversion paths and regular demand, leading to more consistent money for you.<\/p>\n\n\n\n
3 Key Accessibility Points for Newer or Growing Publishers<\/h2>\n\n\n\n
You\u2019re almost to the affiliate program that could help you grow your main business or pay for that vacation you\u2019ve always wanted. Accessibility will determine whether you can dive straight in or need to wait before seeing consistent revenue. <\/p>\n\n\n\n
Insurance affiliate programs tend to be harder for newer publishers because:<\/p>\n\n\n\n
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- The space is dominated by major insurance carriers and dedicated comparison sites<\/li>\n\n\n\n
- Users usually need more trust before submitting personal information<\/li>\n\n\n\n
- Content needs to be highly detailed and technical to provide value<\/li>\n\n\n\n
- Some insurance programs prefer users with more proven authority first<\/li>\n<\/ul>\n\n\n\n
Loan affiliate programs are more approachable to newcomers since:<\/p>\n\n\n\n