Secured loan affiliates - feedback requested

[p3t3]

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Hi all

I'm currently in talks with a broker of secured loans - they're looking to up their volumes and see affiliate marketing as the best way of doing this. We're looking at doing an inhouse affiliate marketing programme - which I'm intending to build from scratch.


Short Application form
--
Name
Postcode
Loan Amount
Loan Purpose
Residential Status
Employment Status
Phone number and/or Mobile number


Commissions
--
Initial amounts would be:
1-20 leads @ £25 per secured lead
21-40 leads @ £30 per secured lead
41+ leads @ £35 per secured lead

Also: £2 per lead for unsecured leads

These figures could be increased, depending on lead volume and quality


Lead Confirmation ASAP
--
On a CPA model we'd be aiming to confirm leads on the same day if possible (at least, the same day as we manage to contact the applicant).
A confirmed lead would be:
- A UK Homeowner with a mortgage
- aged between 21 and 65
- looking to borrow between £5,000 and £250,000
- who we have contacted
- and who is interested in a secured loan


Monthly Payment
--
Monthly, one month in arrears. (i.e. June leads paid in late July)


Lead delivery methods
--
We'd be willing to work with affiliates who generate their own leads, although the leads would need to be exclusive and the affiliate would probably need their own Consumer Credit Licence.
You'd be able to send the leads the following ways:
- by email, in a set format (csv, yaml, or similar)
- XML over HTTP / web service
- iframed application form
We'll also be able to offer standard banners, text links, etc to a version of the site without a phone number.
Any other methods that people would want?


Realtime stats
--
Affiliate website where you'd be able to see realtime stats about all your leads, or download them as a CSV file.


Is there anything obvious I've missed? Would the features above tempt you as an affiliate? Any other killer features that you'd want? All feedback is gratefully received!

Thanks,
Pete

[frazer987]

Personally, i think the short form will indeed mean a lot of applicants but will result in horrible conversions, making it hard for long term relationships with affiliates.

Also, the CPA may be a little low compared to a lot of other merchants.

Cheers

[p3t3]

Thanks for the feedback - we've decided on a commission structure for the affiliate scheme. Hopefully the UK loan affiliates out there will be interested!

Basically we'll be running a hybrid CPA/commission scheme for secured loans. The following is cut-and-pasted from our website (http://www.startloans.co.uk/).
If you've got any questions then please email me (Pete Mason) at affiliates@startloans.co.uk - alternatively you can use our form at http://www.startloans.co.uk/affiliates/ to register or get more information.

How does the scheme work?
Unlike most, we're offering our affiliates a hybrid CPA/commission scheme. Here's how it works:
1. We pay you for every Confirmed Lead you send us in a given month.
2. At the same time, we work out how much you would have earned that month on a commission basis.
3. We compare the two figures. Then we pay you the higher amount!

Why should I sign up?
As an affiliate you'd probably earn the most money on a commission-based scheme. But it's easier to manage cashflow when you're being paid per lead. We can offer you the best of both schemes.

You'll get a set amount for each lead you send us, regardless of whether the loan completes. Plus you've got the greater earning potential that the commission offers.


How much will I earn?
We have two scales - the CPA scale and the Commission scale. Don't forget - we use both scales and pay you the higher amount.

Confirmed Leads (CPA)
Volume Per lead
1-20 £25
21-40 £30
41+ £35

Completed Loans Commission
Volume Per completion
1-4 3%
5-9 3.5%
10+ 4%

Can you give me some examples?
John sends us 50 confirmed leads in August. Also in August, 5 loans of his leads completed at £24000 each.
He'd earn 50 x £35 = £1750 on the CPA scheme.
He'd earn (5 x £24k) @ 3.5% = £4200 on the commission scheme.
So he'd receive a cheque for £4200 for August.

What is a Confirmed Lead?
A confirmed lead is a lead you have sent us, where:
* the applicant is a UK homeowner,
* aged 21-65,
* who is not unemployed,
* who we have been able to contact by phone,
* and who is looking for a secured loan.

Other questions
* What's the cookie length on the banners and text links?
30 days.
* Do you deal with unsecured loans?
We're looking into it - not at this moment in time.

Please visit http://www.startloans.co.uk/affiliates/ to register or request more information.

Many thanks,
Pete