You dont need to have worked in affiliate marketing or media buying for long before you start to suffer some of the headaches that are created when the worlds of performance marketing and finance collide.
Before moving into fintech, Samir El-Sabini, Anders Orsedal and Jonathan Sanders, the founders of Swedish start-up Juni, worked in affiliate marketing, dropshipping, and e-commerce. Having experienced many of the headaches with which most performance marketers will be familiar, they created Juni as the financial companion for digital entrepreneurs: a platform to solve the problems that stopped their performance marketing business from growing.
Here are five of the financial headaches Juni solves for affiliate marketers and media buyers.
1. Spend limits that stop you winning
Youre running a campaign with an incredible conversion rate and sales are flying in. Then your bank or credit card company decides youve spent enough for one day and slams the brakes on.
When youve hit the jackpot with an ad, you are operating in a market with tight margins or youre handling client spend that far exceeds your own business turnover; you need to spend big to succeed. If the sales are coming in at a suitable cost-per-click, the amount spent is almost inconsequential, right?
Your bank probably doesnt understand that. It offers traditional financial products made for traditional businesses. There is little knowledge about how affiliate marketing works and no effort to deliver financial services that are fit for purpose. With the financial uncertainty and supply chain issues created by the Covid-19 pandemic probably here to stay for the foreseeable future, access to flexible spend limits is even more important to help performance marketers to manage and mitigate those risks.
Junis answer to that is to give you as many virtual VISA cards as your business needs, with custom daily and monthly spend limits. If the liquidity is in your business, you should be able to spend that money to get the results you want.
2. Losing money on foreign transaction and currency fees
Your business operates globally, but your bank thinks you should be hit with fees and charges if you dare to accept payments from a business or ad network that uses a different currency to you.
Juni has solved that problem by giving its customers access to multiple accounts and multiple currency options. You can create EUR and GBP accounts (with USD accounts coming soon) each with their own IBAN then make and accept payments without having your margin squeezed by FX fees. You have the flexibility to create and assign cards in a way that makes most sense for your business structure, so you can easily track income and expenditure in all currencies and across your business as a whole.
3. Wasting time in admin hell
Affiliate marketers: they work every waking hour so they can earn money while theyre sleeping, so the old gag goes. At times it seems like banks and credit card companies are in on the joke.
Junis founders say that, during their time working as affiliate marketers, too much time was wasted on manual processes and administrative tasks relating to financial services. Theyve designed Juni to be different. After a simple verification process, there are no time-consuming administrative hoops to jump through.
You immediately have a consolidated view of all your accounts and balances. All of this revenue data is in one place to give you a clearer picture of your business performance. All of your transactions are grouped together. You can upload and assign receipts to each transaction, so you can get all of the financial information you need to export for your accountant or accounting software, like Xero (which is fully integrated with Juni). All in all, Juni makes your life easier.
4. Data scattered across multiple accounts
Another big drain on time for affiliate marketers is pulling together financial information spread across multiple bank accounts, credit card accounts, payment gateways, and ad accounts to get insights on cash flow, liquidity, ROI, ROAS, and other analytics. Yet more time in administrative hell.
Juni integrates with each of those financial services to bring all of your data into one dashboard. Its in this aspect that it really lives up to its billing as a financial companion because it takes huge amounts of admin work off your plate.
Your Google Adwords, Stripe, PayPal, Facebook Ads, and other accounts will integrate seamlessly with Juni. You no longer need to copy and paste various data sources into a spreadsheet because it will all be in Juni. You can instantly see liquidity across all of your accounts and set ad spend accordingly.
All of your ad spend is together in one place, with your daily Facebook Ads transactions grouped together and daily Google Ads transactions grouped together so you can easily track and compare ROAS. With that information, you can easily monitor ROI, improve cash flow, and focus on the parts of your business that really matter.
The result is a platform that delivers a total financial overview of your business, meaningful insights to propel your business forward, and a big saving on admin time and costs.
5. No rewards for your big spend
Performance marketers spend a lot of money on ads. That spending benefits banks and credit card companies but do you ever get rewarded for it? Certainly, Junis founders didnt feel they were during their time working in affiliate marketing.
They decided that rewards would form an important part of Junis offering. Juni gives you 1% cashback on all spending on Juni VISA cards. Spending 10,000-a-month on ads (or subscriptions, or anything else you need to buy) will earn you 1,200-a-year in cashback. Thats a welcome 1% boost to your ROAS or a nice bonus paid monthly to 30-day terms, depending on how you want to look at it.
Find out more about Juni at juni.co. New customers currently get 2% cashback for their first 30 days.