Yes Loans Affiliate Program

[rossyesloans]

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Hi everyone,

I am pleased to announce the eagerly awaited launch of the Yes Loans Affiliate Program through our partners Webgains. Yes Loans already has huge prominence on the internet and we thought it was about time that we shared the wealth. We are giving website owners the chance to make money off the Yes Loans brand by placing banners on their respective websites.

I know what your thinking “banner advertising what’s new about that” but this one has some important differences:

· We will pay you a market leading £5 - £7 per verified application. Our conversion rates are some of the best in the business at over 25%.

· Our unsecured loans do not require any collateral, which makes us appealing to all applicants.

· In order to maximise online leads and create transparency of lead generation for our affiliate partners we do not show telephone numbers from affiliate clickthroughs. Provided users click through to the homepage.

· We work on a cost per application basis so every time someone clicks through from your banner and applies with us you get a guaranteed income of at least £5.

· The Yes Loans brand is one of the best known brands in the industry.

Please find as follows an outline of the commissions we pay and what you would have to achieve to make an extraordinary £7 per application.

Standard Tier: 0 to 99 applications per month - £5 per valid lead

Gold Tier: 100 - 299 applications per month - £6 per valid lead

Platinum Tier: 300+ application per month - £7 per valid lead

So that means if you can generate 300 applications each month you will receive £2,100.00 commission. That’s equal to £25,200.00 a year!

So don’t hesitate, join our affiliate program now and start raking in the cash.

For More information or to sign up to our program visit Webgains or if you are already a member of webgains click on the following link Webgains

Manny Thanks

Ross Orchard
Broker Relations Manager.

[cyates]

what is your validation criteria ?

[anshul123]

need more details on posting methods?

[cyates]

lookin from webgains seems quite reasonable seeing as its unsecured..

might give them a punt & keep people posted with my findings

[yesnige]

Our validation criteria is simple.
Applicants must be over 18, in some form of employment and working over 15 Hours per week.

Once the lead comes through from our application form to our call centre, we contact the customer to confirm their details and as long as the customer is contactable within 14 days the lead is considered valid regardless of whether or not their application is eventually approved or declined.

We do not currently accept manually inputted leads, and we do not currently provide an iframe form for submission via affiliate sites. Although this is something which we are developing for 2008. Any ideas for improving our programme offering feel free to share.

We've only been going for just over a week so bear with us if we don't get things right straight away!

Also any clicks via our webgains tracking codes do not show our call centre numbers.

i.e
Yes Loans - Not Webgains
Yes Loans - Via Webgains

[yesnige]

Also we only accept UK applicants.

[tuna-fish]

This does seem of interest to me. Do you get commissions from the lenders or do you charge an admin fee to the client for the service you provide?

[rossyesloans]

Hi tuna-fish

Like the majority of unsecured brokers we charge a processing fee. The fee is refundable minus a £5 administration charge if the client chooses not use any of our services.

We do this to assure that there are no hidden costs. Any affiliate commissions you earn will come directly from our programme host webgains. We validate the lead regardless of whether the applicant chooses Yes Loans to find them a loan or not, and commissions can be paid weekly by BACS.

Hope this helps.

[tuna-fish]

Hi Ross,

Thanks for that. I have promoted fee charging brokers in the past and I ended up with nothing but grief from disgruntled clients. Literally hundreds of them, filled out the contact form on my site, asking why they hadn't received their loan etc. Not sure I could go through that again to be honest.

I am not sure that I agree with the charging of a fee, as most of the clients I refer are generally the most vulnerable members of society. Suppose I'm an affiliate with a conscience!

Think I'll stick to supporting the brokers that don't charge fees for the time being.

[rossyesloans]

Hi tuna-fish

Thank you for your views with regards to fee charging brokers, I am new to this forum and I appreciate your honesty and concern with this matter.

We take a slightly different view on it here; we think that charging an up front fee is more beneficial to our clients. It ensures that the client gets a full service from start to finish and does not get stung by having expensive broker fees added on to the value of the loan.

We understand that consumers do not like paying up front fees but its kind of like your MOT, if you booked you car in to a garage and they said “don’t worry about paying the £40 we’ll make it up in labour costs” it might make you a bit suspicious.

All we are doing is charging for a service rather than capitalising on peoples naivety, and the best part about it is that if by no fault of are own we cant get you what you want, we give you 90% of your money back. You can’t say fairer than that!

I don’t expect to change your mind on this one tuna-fish; I know when you have had your hands burnt once you never want to try it again. If anyone else has the same view on this matter please post a reply or PM me, it would be great to hear what everyone thinks.

Many Thanks

Ross Orchard
Broker Relations Manager

[magenta]

Our validation criteria is simple.
Applicants must be over 18, in some form of employment and working over 15 Hours per week.

Once the lead comes through from our application form to our call centre, we contact the customer to confirm their details and as long as the customer is contactable within 14 days the lead is considered valid regardless of whether or not their application is eventually approved or declined.

seems like a very easy criteria to meet , but then, why is your approval rate so low (25%)?

[yesnige]

Our approval rate thus far is 100%,

The 25% you refer to is the conversion rate on our online application form.

[tuna-fish]

Hi Ross/Nige,

I have been thinking and I take on board what you say about why you charge an up-front fee. I just have a few more questions.

As I generate over 8,000 tenant/unsecured applications per month, I need to know if this campaign would be for me.

1) You state you are up-front about charging a fee. Would you consider putting that fact on your web-site?

2) You state you complete 25% of all applications, so are all the other 75% of the applicants fees returned, or do they have to wait 6 months? (this is what caused the problems for me last time)

3) Can you expand on the full service you offer? If the client can not get a loan what other service, do you offer?

4) If I was to offer you my applications, would you consider not charging a broker fee, to any of the clients from my forms?

5) Can you expand on verified lead? One sentence says you pay for each application, then another uses the same terms as Shakespeare Finance (verified).

Simple maths tells me that as you refund 90% of the fee, and you only keep £5, does that mean you charge £50 to each applicant?

If I sent you 8,000 applications per month, you could make £400,000 in fees, and I would only get £56,000 @ £7. I can’t seem to get the logic of returning £270,000 of fees because you can’t help the client. Wouldn’t it be better only to charge the people you can get a loan for?

Sorry for all the questions but I want to be sure that this would be for me.

Tuna-fish

[russell cpanuk]

I have been looking forward to the reply from Yes Loans from the Tunafish post. Simple Questions but so hard to reply/justify.

[rossyesloans]

Hi Tuna-fish

My apologies for the delay. That’s fine, I understand how difficult it is to choose the right merchant and how it is important to understand the way that a company operates. Please find below my responses to the above:

1. We understand that charging a fee upfront is often off putting to many consumers, so in a way it is not displayed on the website to prevent deterring a client from the off set. We like to speak with potential clients directly and explain why we charge the fee. This is to ensure (as I hope it has in this case) that the client has a full understanding of why the fee is charged and gives the client the opportunity to make there own decision on whether to apply or not.

2. The “over 25%” conversion rate stated in my original post (please see above) has no reference to the number of fees being paid. It is in reference to the click through rate. We have found that approximately 25% of consumers that click on one of our banners will complete an application form. Therefore this means that on average1 in 4 people that click on your banner will earn you at least £5.00.

3. Although we are not a debt solutions company we will ask the client if they wish to speak with a company that may be able to help them depending on there situation i.e. Debt Management etc. We also keep all applications open for 6 months, so if we get a new lender on board or the client’s circumstances change we can re-assess the application.

4. No, it would be unfair to have one policy for a certain group of clients and one policy for another. We would not work like that.

5. A verified lead is a non fraudulent lead that can be contacted within 7 days of the application being submitted and fits in with our basic criteria (aged 18+, UK citizen, Employed and working more than 15 hours per week). Just to confirm that when a consumer clicks on one of our banners, goes through to our online application form and submits a verified lead you will receive between £5 and £7 for that application. It’s as simple as that.

The up front fee is £49.50.

If you sent me 8,000 applicants per month and 100% of them said “yes I would like to apply for a loan” and “yes I am happy to pay an up front fee” then I would be ecstatic and you would be the greatest affiliate this forum has ever seen. However the reality of it is that you will have a proportion of people who will not go ahead with the application and a proportion that will not pay a fee. In reference to only charging a fee to successful applicants I will have to remind you of my MOT analogy, as I am sure you are very aware nothing is free in these days and the best way to get a good service is to pay for one.

I hope I have been able to answer your questions.


P.S

Out of interest the affiliate program I have described concentrates on banner advertising. I have not heard of an affiliate that can generate any where near the for-mentioned 8,000 tenant / unsecured applications each month by using this medium. How are these applications generated?

I only ask because if banner advertising is not an option for you then there may be some alternative routes we could look at if you can deliver those volumes. If so please PM to discuss.

P.P.S (Russell)

It’s nice to see your taking interest in our program Russell. Unfortunately Nigel and I have other commitments within the group that we are heavily involved in as well as this one, hence my delayed response. This unfortunately prevents us from watching these threads 24-7. I will however endeavour to reply with more haste next time in case you are awaiting my response.

Many thanks

Ross Orchard
Broker Relations Manager