In this digital world that has been accelerated by the pandemic, affiliate marketing is one of the effective marketing tools that is proving to work for all stakeholders. Top brands are seeing an increase in revenue, affiliate marketers who promote products of these top brands are earning commissions, and consumers are being enlightened to the best deals and discounts in the e-commerce world.
Affiliate marketing undeniably brings top brands closer to consumers and consumers embrace the opinions and suggestions from affiliate marketers who are their friends or family members. By tapping into a community comprising affiliate marketers and consumers, top brands stand to benefit greatly from affiliate marketing especially when digital transformation is taking place at a rapid pace.
If you are a top brand looking for new and effective marketing strategies, we recently talked to Berjaya Sompo’s e-commerce manager, Owen Fooa who shared about marketing in this new normal.
As one of the leading general insurance companies in Malaysia, Berjaya Sompo strives to provide the best insurance solutions and services to its customers. In December 2018, the Digital Department was formed with the mission to grow online sales and drive the digitalisation of insurance products.
Let’s dig deep into Berjaya Sompo’s take on affiliate marketing…
Meet Owen Fooa, Berjaya Sompo’s e-commerce manager
As the e-commerce manager, Owen is responsible for developing, implementing, and managing marketing campaigns that promote digital products online, enhancing digital awareness within the digital space, driving website traffic, acquiring leads/customers and eventually, convert the customers and generate revenue.
Besides that, he also identifies and evaluates new digital technologies and uses web analytics tools to measure site traffic to better optimise marketing campaigns, email marketing, social media and display, and search advertising.
What is your recent launch or top-selling product?
We have recently launched our home content insurance and medical insurance, and both products can be bought online. Car insurance and travel insurance are our top-selling products.
What is your go-to marketing strategy currently?
GTM strategy is focused on digital marketing. Besides working with ACCESSTRADE Malaysia and other partnerships, we also run in-house direct ads via FB, Google and etc.
How did the COVID-19 pandemic affect your marketing strategy?
The pandemic impacted our online travel insurance sales. We had to launch more relevant products such as hospital income plan that covers COVID-19 and e-medical insurance since people were more concerned about health than leisure.
We also worked more closely with our marketing partners to push more quality traffic to our e-commerce sites. As customer behaviours have changed towards online shopping, we also took the opportunity to enhance and simplify our customer journey on all our e-commerce sites.
Why did you choose affiliate marketing as a marketing strategy?
It is more cost-efficient than running direct ads. We are also able to reach a wider and broader audience which previously we had constraints.
How has affiliate marketing boosted your business?
Close to 1/3 of our business are generated from affiliate marketing. Affiliate marketing is now one of our key digital marketing mix.
What is your vision/target for affiliate marketing?
We intend to grow affiliate marketing to contribute at least 70% of our online business by 2022.
What has been the biggest stumbling block in affiliate marketing?
Trust! It needs a lot of patience and hard work to earn the trust of affiliates.
How do you find the best talents for affiliate marketing?
No proven formula. It is a lot of tests, learning, and optimisation.
Will you keep affiliate marketing as a long-term marketing strategy?
Yes, it will be in our long-term strategy since it has proven to work and still many untapped areas.
What do you foresee in the future of affiliate marketing and your brand?
Affiliate marketing will grow since many sites will start moving towards monetising their online assets. For us, it is the opportunity to reach a wider audience.
Why did you choose ACCESSTRADE Malaysia as your affiliate marketing partner?
ACCESSTRADE Malaysia team gives us very good support and does not shy away when any issue arises.
How has ACCESSTRADE Malaysia contributed to your affiliate marketing strategy and target?
Stable conversion rate and healthy growth in traffic.
What is your advice to brands looking to explore affiliate marketing?
Start now – test, learn and optimise.
What is your advice to affiliate marketers who want to promote brand products?
One of the biggest misconceptions about affiliate marketing is that it is too much work. But it is easy to become an affiliate marketer, and you don’t need a massive social media following. All you need is an internet connection and a social media account.
ACCESSTRADE MY is an affiliate marketing platform where top brands can connect with publishers to promote their products to a wider target audience. An established affiliate marketing platform like ACCESSTRADE MY will connect you to high-quality publishers who are committed to bringing you closer to your target audience. As a result, your products and services would reach a wide range of target audience and you would also benefit from being a part of a streamlined platform.