Affiliate marketing, a process that enables publishers and affiliates to earn a commission by promoting other people’s (or company’s) products, has done an expert job of connecting advertisers to their target audiences via ads served to literally tens of thousands of participating publishers and affiliates. Through affiliate and advertising networks, international publishers and affiliates are able to display ads or promote their affiliate links while advertisers are able to offer them a share of revenue generated.
The payment and reporting options offered by networks have led to an efficient and effective system. However, like many global workers in the digital economy, international publishers and affiliates often face challenges when receiving payments from these advertising and affiliate networks. From currency exchange fees, to late or lost funds, the international recipient payment experience can leave much to be desired. This can be particularly true for publishers based in emerging markets such as India, Bangladesh or Pakistan.
For networks, payment inefficiencies can lead to missed opportunities for opening up new channels. Consider this scenario: a North American-based merchant seeks to expand its reach into Pakistan, which is a promising new market for its products. The network has publishers in that country, and happily the network is able to make the connection between advertising partner and publisher. Once the relationship is in place, however, the payments challenge emerges. In Pakistan, wire transfers can take many days to be received. Prepaid card options can cost the recipient a significant percentage in fees and take weeks to receive by mail. E-wallets like PayPal are not available in Pakistan. If you can’t get payments to these publishers, then including them in your network makes no sense.
Here are three ways an advertising or affiliate network can improve the payments experience and as a result, continue opening new channels for its participating advertising partners:
1. Consider Local Bank Transfers for added convenience: Local Bank Transfers are a universally available payment method that enables your recipients to get paid the way many of us prefer to be paid – direct to our bank account.
2. Pay in local currency: Hand-in-hand with Local Bank Transfers are the fact that they are usually paid in the local currency. But, whatever payment method is chosen, whether Local Bank Transfers or another option, converting payments to the currency of the recipient can be what separates a network from its competition in the eyes of the recipient.
3. Focus on reliability: While convenience and speed are important, reliability is even more important. A payment must arrive when it’s due to arrive so that publishers and affiliates can continue to successfully run their business.
Recipients want to keep more of what they earned from their hard work, and advertising and affiliate networks can play a direct role in ensuring they are able to do that. As the world becomes more digital and interconnected, being able to deliver international payments at the speed of business will increase publisher and affiliate loyalty and help set your advertising and affiliate network apart.
Learn more about how advertising and affiliate networks can pay recipients easily even in the most hard-to-reach emerging markets in our Industry Guide for Advertising and Affiliate Networks.