What Is The Best Converting Payday Loan Program?

[sweetjono]

Tweet

- What is currently the best converting payday loan program?
- Is the network trustworthy?
- How many lenders do they have?
- What is the average conversion rate?
- What is the average "pay per lead" ?
- Can they pay weekly?
- Do they offer white labels / templates options?

Please advise.

[akidner]

Hey sweetjono,

Hope you're well and having a good week.

Here at Webgains we are very strong in the payday loan sector and have numerous options available to be able to promote. In terms of the best converting offers, these are the ones that I find have conversion rates above the 2% norm:

• Gatekey Lending - http://www.webgains.com/signup.html?...ction=stepzero
• PaydayNow - http://www.webgains.com/signup.html?...ction=stepzero
• UKPaydaytoday - http://www.webgains.com/signup.html?...ction=stepzero
• Payday Express - http://www.webgains.com/signup.html?...ction=stepzero

Are you looking for lenders or brokers? The CPL is obviously the case with the latter mostly.

Best regards,
Alastair Kidner

[Easyloans]

Hi Sweetjono,

Your always best to go direct to a payday loan company that has circa 25 lenders plus, offers a good set of back end offers to sweep up applications rejected by payday lenders and runs a program that can be tailored to suit you.

Who knows who has the current best converting payday loan program. I'd like to think it is me but i can not be sure without running specific tests over periods of time at different times of the month as there are many many nuances. What i can do is make a good guess at the top 3. Top 3 in terms of EPA will be me 'Easyloans Ltd', T3 Leads and Payday Bank.

Each of us works slightly differently and you may find that one or the other suits you better as an individual.

I can't comment on all networks but I'd say the 3 I mention above are 100% trustworthy as I have known them as competitors for a while and the transient nature of affiliates means you hear a lot about the different networks, good and bad.

Average conversion rate should be in the region of 20% from application to commission but this various wildly from affiliate to affiliate.

EPL should be £3-£5 on average but again varies wildly and I'm talking about across all my volume there, just looking across todays traffic I have one guy on £37 (low volume) and a few between £21/£27 but average is running at around the £3s today. EPL lowers towards the 2nd half of the month as lenders tighten up their criteria.

Most of the larger payday loan platforms should be able to offer weekly for volume providers, bi-monthly and monthly options for payment.

i-frame application forms, a choice of websites to promote via email, SMS, Banner etc should be standard. XML feed also quite common these days.

Please look me up or contact me at neil@easyloans-ltc.co.uk if you would like to discuss further or run a trial with me. I have been running a payday loan ping tree for 4-5 years now. I don't come on here often as I prefer a low key approach but recent posts have caught my eye and I'm intrigued to understand how this forum works....I think thats an advanced apology if this post goes wrong somehow.

[PaydayBank]

Thanks for the recommedation Neil.

We don't quite speak up in this forum but now we'd like to push affiliate channel and work with more affiliates.

And we're based here in London and you can call our affiliate manager over the phone! Mon to Fri!

Please get in touch at 0207 483 9335 and give the reference "affiliate 4u forum", then our reception will direct you to our dedicated affiliate manager!

[EgiT3leads]

Every network has its strengths and weaknesses. The best thing to do is run split tests among a few you find good reviews on and see what the numbers tell you.

I can tell you a bit about T3leads and see if you'd be interested in running a test with us and evaluate it at the end for yourself.
T3leads is a huge player in both US and UK market. We have very high conversions, our own detailed and sophisticated system with live reporting at all times. We have a large network of lenders and we generate quite a large number of payday leads daily.

contact me below so i can provide further information:
egreis.g@t3leads.com
877-778-3532 x 210
Skype: egreist3leads

Egi

- What is currently the best converting payday loan program?
- Is the network trustworthy?
- How many lenders do they have?
- What is the average conversion rate?
- What is the average "pay per lead" ?
- Can they pay weekly?
- Do they offer white labels / templates options?

Please advise.

[TheRealPingtree]

Dear Jean (sweetjono),

Apologies for the article below, but your questions prompted a "how to" guide for payday. I hope this is useful to all who read it.

You are already on the best network but I would encourage you to test one of the three above and compare. Just as we optimise the order of lenders in our tree for profit, you should likewise search around for the best fit for your traffic type.

I have checked out your commission scheme with Pingtree and I'm quite happy that this will not be matched.

I notice there haven't been too many direct answers to your specific questions, so I'll try :

- What is currently the best converting payday loan program? :

I'm not sure anyone could answer this, we all use exactly the same lenders with the exception of some rare exotic smaller lenders who won't make any tangible difference to conversion rates. So it does come down to the quality of the traffic a network has which encourages lenders to relax more with that network and what commission they then give you. As I said, I'm quite happy your commissions with us will not be matched and in terms of quality I'm quite happy ours is amongst the best simply from lender feedback.

- Is the network trustworthy?

We've been going over three years now and have over 500 parters, with around 190 active at any one time. We have just completed a merger with a larger organisation and now have a dedicated payments and affiliate management team which has just come into place.

Neil's response which is in the main fair is not quite clear enough on this point. EVERY network is trustworthy not just the three he lists. This list includes Pingtree, T3, 9Global, Leadaffinity, Quiddi, Easyloans, Paydaybank and any other i cant quite think of. All may not respond as you wish now and then or make a mistake occassionally as all companies do from time to time.

For example we are constantly under and over paid by the lenders or not paid atall, who are bigger organisations than us and sometimes getting responses from them even though we supply truly enourmous lead volumes can be more than challenging, but they (the pingtree networks) will always pay you what is due because to do otherwise would be a very big mistake and reputational suicide.

So I would answer this question quite safely that yes, you can trust ALL Pingtree's, nothing bad is going to happen, the worse that may happen is that you request your data not to be marketed to and due to the way data is sprayed around this cannot be avoided by certain networks.

One other point to watch on the trust front, try to insist that pingtree's report all leads across all lenders openly to you with the lenders named (its no big secret who they are), if they hide the identity of the converting lender from you it is all too easy on iframes to remove an entire lenders commission set from you and report a fabulous top rate "£100 per conversion....wahoo" but you've had three lenders lower down removed to pay for that false top rate.

- How many lenders do they have?

Varies but outside of the top 10 lenders, the rest make a marginal increase to overall acceptance. I have just looked at December and of the 20,917 accepted leads bought by lenders in December, 18,045 of them came from the top 10 lenders........think about that stat, it makes a joke of any claimed 30% conversion if most of that conversion is coming from the lower paying lenders, Neil is right, monitor your earning per lead, not conversion rates as this is misleading.

(20,917 as at 27th December midday for the other Pingtree's scrambling to compare their rates of conversion)... :-)

So in essence, having 100 more lenders beneath these makes minor difference but we Pingtree's do like to claim an ever increasing number. Again how we work with these top ten, how open they are to us and what they pay us is the key, how many lenders outside of this is a small matter. Incidentally we have 23 lenders most of whom operate multiple tiers which present 49 buying decisions in total (but only the first 10 are important)

- What is the average conversion rate?

Hard to say if you're an SEO partner then you're conversion is up at the top end at up to £38%. If PPC then depends where you're fishing, if your on page two then you have the savvy punter who knows he's been declined everywhere else and is shopping on page two so acceptance drops sharply.

EMail again if you're just emailing recycled payday data then the acceptance drops and which lenders accept you comes into play like low level PPC, the cheaper tiers are buying not the top 10 payers.

- What is the average "pay per lead" ?

Same as above, depends where your traffic is coming from and where your fishing for it if its good the big spenders buy it if its not the low spenders buy it or no one does. When we used to PPC before we stopped as we don't like competing with our affiliates....(take note of this, every other network listed above will fight you on PPC, we didn't think it was right to use our big budget and our access to 100% commissions to kick our partners down the page)...but when we did, we found we had to be quite ballsy to get the higher quality lead and not bid low as its false economy.

Beware my point above about Pingtree networks taking you on, we used to spend £300k per month on Google as thats the power of the Pingtree's but its just not fair to compete with your own affiliates on an unlevel playing field.

- Can they pay weekly?

Yes we do...If the answer from any network you go on to work with is no, then this is cash flow related and you should think carefully about working with someone with cash flow constraints.

- Do they offer white labels / templates options?

You are already running one of ours and you are welcome to change to it any one of a dozen others.

Jean, if during our transition to the new merged entity we have not met your expectations, contact Oliver Peckham, Greg Cox or myself next week to address anything. I note your prime route to market is PPC. We have assisted you with almost 100% commission and weekly payments.

Ask us about our month two SMS activity to boost your returns from data gathered from PPC.

Do however try one of the above to check their flexibility and rates. Also seek assurance they will not bomb you out of Google with their PPC budget, particularly Paydaybank who use this as their premium traffic route.

I would also try out Vipul Gupta at 9Global and Chris Burgoyne at LeadAffinity, tell them I recommended them for a good deal.

Outside of these Neil at easyloans will look after you best from the list above and has good lender relationships.

Leadaffinity however as far as i'm aware won't compete with you on Google and he is likewise a good guy who will look after you.

Bonne chance mon amis

[loanstuff]

Hi
This is a genuine question, I have no affinity with anyone on here.

I'm trying to find out which pingtree (if any) will pay for a lead or is every deal based on that lead converting? If a network does pay for a lead does it have to be a certain type, have a specific traffic source, etc. ie. if we send someone to a network who meets the criteria for a payday loan but falls down on the lender credit score, would we be paid for that?

Apologies in advance for my ignorance but we are not big in the payday world as we are a guarantor loans lender and broker, however we would like to be because we are pretty good at SEO and we have a significant PPC budget now.

For those outside of the payday loans world, it is a little confusing to work out who has the best offers, etc.

Thanks, Mark

[PaydayBank]

Hi Mark

Don't worry it's a complicate industry comparing other lead generating business.

Please give me a ring 0207 483 9355, ask the reception for affiliate marketing manager, with the reference "from the forum". I will try my best to talk you through the complex

Hi
This is a genuine question, I have no affinity with anyone on here.

I'm trying to find out which pingtree (if any) will pay for a lead or is every deal based on that lead converting? If a network does pay for a lead does it have to be a certain type, have a specific traffic source, etc. ie. if we send someone to a network who meets the criteria for a payday loan but falls down on the lender credit score, would we be paid for that?

Apologies in advance for my ignorance but we are not big in the payday world as we are a guarantor loans lender and broker, however we would like to be because we are pretty good at SEO and we have a significant PPC budget now.

For those outside of the payday loans world, it is a little confusing to work out who has the best offers, etc.

Thanks, Mark

[TheRealPingtree]

Mark

Nothing complex at all.....

Short answer is yes, we operate a "pay per submit" scheme where we pay you every time the 'submit' button is pushed by a customer.

Conversion is then our problem as it should be. Our SEO partners did well with this approach for example over Christmas. Conversion dropped sharply due to lenders being off or downgraded but SEO partners were not concerned with this as they still get paid per submit.....easy

Skype or Email me to discuss on :

email : mark@pingtree.co.uk

Skype : m.r.kennedy

mobile : 07973 440243