Q: I was wondering if you knew why big CPA/CPC advertisers like E*TRADE, Scottrade, and TD AMERITRADE don’t have affiliate programs? In fact, as far as I tell, brokerage firms don’t even use traditional CPM/CPA ad networks to buy media.
A: I don’t really have any insight as to why they would choose not to engage in affiliate marketing. One thing I would speculate would be that it’s a regulation issue.
Credit cards, health insurance, and other areas are highly regulated, and I would imagine the same goes for brokerage firms.
Perhaps they consider it to be too much trouble to properly screen and monitor affiliates to comply with their industry guidelines, or maybe outsourcing account recruitment in this fashion is just not permissible for them.