Warning - Loan Line

[Michael_Anthony]

Tweet

We've had a thread develop on our member's forum over the last couple of days which needs bringing to everyone's attention.

The Merchant is Loan-Line. The networks are Awin (merchant no longer with them) and IPT Smart Quotes.

The value of leads unpaid and rejected for various spurious and unsubstantiated reasons is well in excess of £100,000.

Their average rejection rate across our members, whose leads convert perfectly well for our own merchants, and who between them generate around 15,000 Secured Loan Leads per month, is 67%. Yes, 67%.

I thought it was worth sharing this for anyone working with this merchant, or thinking of doing so in the future.

[RobOxeva]

Having spent a speel at IPT and still knowing most of the key staff - I would treat IPT and it's products like a busines STD.

[magenta]

the people most at risk due to this practice are the affiliate networks themselves; as new, more transparent advertising models emerge, more and more affiliates will walk away.

[wahideas]

Yes, completely agreed. The more options that the affiliate has in terms of merchants/programs to promote, the worse for "shady" programs. If only they knew that if they were upfront, transparent and honest in the beginning that they could build a trustworthy and thriving business with dozens of super affiliates. But greed can often get in the way of that. Of course, I put some of the blame on the affiliate networks themselves who try and negotiate large and unrealistic commission rates whereby the merchant will discover in three month's time that the rate they are paying per lead is unsustainable and that they are losing money left, right and centre. Who takes the fall? The affiliate of course, by way of horrendous rejection rates. Pretty poor business model.

That's why, as an affiliate who has been in this business for nearly three years, I am seeing more benefit to striking back end deals because in this case you get paid fair market value for the leads you generate. The broker works hard for you because any completions mean money not only for you as an affiliate, but for them as well...

[cyates]

i sent leads through to loanline ages ago with smart quotes and teh rejection rate was appauling and reasons are PATHETIC

if the customer isnt willing to go ahead immediately they reject it .. how the HELL is that a pay per lead .. even if teh customer wants to go ahead in a few weeks its stil a lead

the staff are helpful in my experience and i have asked some stupid questions ...

but 1 thing that does annoy me...

Commission generated in July will not hit your bank account until Begining of SEPT !
The commission leaves their account on the 28th of the following month

ridiculous !

[co-co nut]

Exactly WAHIDEAS!! We are an experienced Secured Loan broker who have transparent reporting mechanisms & efficiency of process. We have strong relationships built on backend commission terms because of what we can offer! Too many of the so called "big boys" pay little or no attention to the value of leads as it's just a numbers game to them. There are challenging times ahead in our marketplace, & strong relationships, whether PPL or Commission split terms, will be key to ensure all parties benefit moving forward.

[beejeebers]

I wonder if they're going to relaunch under a new "brand" like lots of merchants seem to do lately.