Starting Out

[Flex-Finance]

Tweet

Hi all

I run a small cash loans business based in Greater London. This has been going well and I have got to the point where I can expand and I also have a fair bit of time on my hands! I have a presence in the community so the web seems the obvious place to go.

I was thinking of offering pay day loans so using an affiliate to get going makes sense and then I can potentially move into offering them myself. I company that have contacted me are the largest in the UK and I thought the commission was reasonable. What kind of traffic could I expect as a start up with a mix of online and offline marketing? I know its a "how long is a piece of string" question but what kind of targets are reasonable for me to work towards in the first 3,6,12 mths etc?

I would eventually look to move into debt management as well but the infrastructure costs are obviously significantly higher.

I have domains, hosting etc sorted and have downloaded and trying to get to grips with Joomla. Is this the best way to go as far as design/build goes?

I have absorbed as much info from here as I can. Are there any other sites that people recommend that do a good job of hand holding newbies like me through the affiliate minefield?

I am just thinking out loud here so any tips, tricks, advice is more than welcome.

All the best

James

[Flex-Finance]

Shameless bump but I do have a question.....

Those with experience in payday loan leads which is the best course:

PaydayUK pay £40 per completed loan
Pounds till Payday pay £8.50 per accepted application

How are they comparable?

[123debtsolutions]

Simple answer, use our iFrame.
The lead has the chance of being accepted by 3 merchants including both those companies.
We pay £8.50 per accepted lead regardless of who accepts it.

Sign up at : Debt Management & IVA Leads in UK

[john-pp]

....... Or our Iframe

We currently have 4 merchants and the payout is £8.50 - £18 depending on who purchases.

We also offer a different tier whereby you can get paid per submitted lead regardless of whether it is instantly purchased or not.

The problem with payday loans is that the market is pretty much beholden to 3-4 main players/lenders, most people that have used a payday service before will already be on most of these lenders' books and obviously they won't pay commission for existing customers.

That's one of the main reasons this area has such high rejection rates.

Payday loan applicants are in abundance, it's quite easy to get high visitor numbers to your payday site but as most affiliates out there will know, it's another thing to monetise those leads.

That's why we have our own payday lending arm in the pipeline which we're hoping to launch quite soon.

If anyone is interested please feel free to PM me.

BTW - as I'm not one to usually hi-jack other people's threads, as compensation I will answer "Flex-Finance's" question:

"which is the best course:
PaydayUK pay £40 per completed loan
Pounds till Payday pay £8.50 per accepted application"

PaydayUK (MEM) are big. As mentioned above most payday customers will already have had dealings with them, ergo... huge rejection rates.

Pounds till Payday - don't expect the 8.50 to be paid willy nilly, not only do PTP have a stricter acceptance criteria, but also a smaller budget so they are a bit more choosy, ergo ... big rejection rates.

[Flex-Finance]

Thanks Guys

The main reason I am attracted to Payday loans is the fact I would like to offer them myself in the future. If I can learn how to drive traffic to a site before I do this then that is ideal. Obviously while I am doing this I dont want to hose through money and not see a return for the traffic I can generate.

[jezaff]

e107.org > joomla ! (imo!)

[MsFinance]

If you want to increase you traffic you should look into search engine optimization. There are a lot of sites that can help you look into techniques for it. Just get your website out there. Oh yea here are some sites that can help you out with it...or you could just google Search Engine Optimization
Search Engine Optimization Tips
or Search Engine Optimization Tips - The Web Developer's Journal
Hope this helps you out! Good luck!

[Flex-Finance]

Well Ive given it a go!

I have created a website using Wordpress. I am finding its limitations but its pretty easy for someone with no previous experience to get something out there. Obviously it is still under construction but I will welcome comments/criticism/abuse :tup

Flex Finance Ltd - UK - Cash Loans - Payday Loans - Personal Loans - Secured Loans

I have registered with 123debtsolutions as they seem to have a pretty transparent pricing structure. A bit confused with the various ways you submit leads and I couldnt get the iframe stuff working properly. I understand this is a Wordpress limitation? I now have a form on there and think I will just CC the form response to them.

The next thing I will do is work on the copy on the front page as it pretty dry at the moment.

Any more suggestions?

[Flex-Finance]

No one's got anything to say?

[amunbhardwaj]

I'm looking for traffic on a payday loan offer.

''https://www.getmetopayday.co.uk . This is for each accepted application. Applications are rejected if they are duplicates, their credit history is too poor, incorrect application details or if there is a possibility of fraud. Generally speaking we have an acceptance rate of between 25-30% compared with a lower 15% on similar offers. Real time stats can be provided and applications are accepted immediately so there is no delay or validation period.''

Amun

amunbhardwaj@googlemail.com

[Mike_M]

Well Ive given it a go!

I have created a website using Wordpress. I am finding its limitations but its pretty easy for someone with no previous experience to get something out there. Obviously it is still under construction but I will welcome comments/criticism/abuse :tup

Flex Finance Ltd - UK - Cash Loans - Payday Loans - Personal Loans - Secured Loans

I have registered with 123debtsolutions as they seem to have a pretty transparent pricing structure. A bit confused with the various ways you submit leads and I couldnt get the iframe stuff working properly. I understand this is a Wordpress limitation? I now have a form on there and think I will just CC the form response to them.

The next thing I will do is work on the copy on the front page as it pretty dry at the moment.

Any more suggestions?

Not bad for a first attempt.

If you're doing PPC try to get your form on your first page, it will convert much better here.

Data Protection Number? Can't find it, and people filling in forms like to see stuff like that.

Under 'coming soon' on the payday loans and secured loans sections, stick a banner, adsense or something, or link back to a completed section of your site. This will help to minimise wastage until you get these pages finished.

Hope this helps,

Mike

[Flex-Finance]

Thanks for the feedback Mike, appreciate it.

I have actually joined the Affiliate Marketing School as I was going to sell the leads through you guys. I will get more active on the forums.

I really just wanted to get something up as the URL is on the 10,000 leaflets going out this week as part of my normal marketing. You never know maybe I can learn how to make more money via affiliate marketing than lending money!

All the best

James

[Flex-Finance]

Thanks for the feedback and the PM's I have received. Even the ones offering to sell me all kinds of wierd and wonderful things!

I have trashed the original website as it was never going to be more than OK.

I think it looks more professional now. Flex Finance Ltd - UK - Cash Loans - Personal Loans - Secured Loans

I dont have a form on the home page, a lot of people say this has a higher conversion than a person having to click through to it.

Would most people agree and is this something I should ad?

I already have leads coming through for the cash loans (which is my core business) but nothing on the personal loans yet.

I am stuck in the middle here. I dont want to compromise my main business but I want to develop the affiliate/lead side of things. Im worried that I will end up doing two things badly rather than one well, if you know what I mean.