Under the new 12-month partnership with Rakuten, Douugh will pay selected publishers on the marketing firm’s affiliate network for advertising the neobank’s value proposition and for delivering sign-ups to its platform.
Douugh has attributed 15 per cent of its total digital media advertising revenue to affiliate marketing, which generates 15-30 per cent of all sales for advertisers.
The affiliate marketing program is expected to be cost-effective and low-risk to increase mobile app downloads and to accelerate customer acquisition.
The company has outlined hopes for brand recognition, expanding its customer base and increasing conversions and customer engagement.
Douugh founder and chief executive Andy Taylor commented it is a key channel to reach and influence consumers worldwide, at every part of their purchase journey.
“Affiliate marketing has proven to be a valuable acquisition channel that will offer a big opportunity for Douugh,” Mr Taylor said.
Rakuten chief risk officer Jeff Wender added: “Douugh’s fresh approach to financial wellness and user-friendly app make it a natural fit for an affiliate marketing strategy that places a compelling call-to-action alongside relevant content from our network of 150,000 publishers worldwide.”
Douugh’s longer-term growth strategy also includes the introduction of new services and technologies, such as cashback rewards across international markets.
The neobank has also signalled it will soon introduce an incentive program for Douugh users to invite friends to sign up to the platform.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
Sarah has a dual bachelor's degree in science and journalism from the University of Queensland.