Payday advice

[chuckb]

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Hi

I am new to affiliate marketing and have just created a payday loan website which I have started using to generate leads for payday lenders. At the minute I generate leads for MEM who pay me commission per successful application.

I have the following questions which probably seem pretty dumb to the more experienced here.

I am going to start a PPC campaign at £1.50 per click. Do you think that is too much?

Also, is there any way I can send leads to other lenders with a view to increasing my success rate?

Is payment per lead better than payment per sale?

I suppose it all depends on what they pay you.

Cheers

Chuck

[Ketan_T]

Hi Chuck,

I manage the Provident Personal Credit affiliate programme, which could fit in well with other programmes you're promoting at the moment.

To give you some background information, Provident offer loans between £50 and £500; often to people who have difficulty obtaining credit through mainstream lenders.

I think Provident can provide an alternative to the other pay day offerings you'll be promoting. Essentially, Provident loans are similar in value to a pay day loan, however they're paid over a longer period of time, give customers that added flexbility. With the current economic climate, we're seeing high levels of demand for such a product.

By driving traffic to the site, you'll be paid on two metrics: per lead and per conversion. We look to reward partners based on the volume delivered to the programme, so we have a tiered structure in place: -

1 - 99

£4

100 - 199

£5

200 - 599

£6

600 - 1,499

£8

1,500+

£10

In addition to volumes, we rate quality very highly. So, we'll pay an additional £15 for each lead that converts into an issued loan.

I would be interested in seeing your site to get a better idea of how Provident can fit in with your other promotions.

Thanks,

Ketan @ LBi

[123debtsolutions]

Hi Chuck

Payday is a volume business and at £1.50 per click is a good amount.. You won't survive with just MEM.. Honestly you will go skint in a week. (They don't accept/convert enough)

You need a ping tree. This is the ability to offer the lead to multiple buyers if the 1st buyer rejects...
Our ping tree has 4 buyers in it and MEM are 1st in the queue.

I prefer pay per lead and not pay per sale. Short answer is I know what im going to get for each days worth of PPC.. I don't have to wait to see if they convert etc.

* My comment about MEM not accepting/converting enough is no reflection on them, they are the best in the business but they dominate in online lead generation, this is the main problem of why they accept so low, cos 80% of the time someone beat you to it, lol.

More info on our payday fees is at : 123 DS Fee Structure and on PPC lead generation across the ping tree you should see 20%-40% acceptance ratios.

[tuna-fish]

Sorry to post on this thread but thought it best rather than start a new one.

I'm considering entering the payday loans market at the moment, after reading Lee's post I'd be interested to know which payday lenders accept leads through the ping tree model?

Thanks

[Ninad]

Hi Lee,

Do you offer pay per lead than pay per sale? Is 20%-40% acceptance ratio realistic?

[craigyl08]

Hi Chuck

Payday is a volume business and at £1.50 per click is a good amount.. You won't survive with just MEM.. Honestly you will go skint in a week. (They don't accept/convert enough)

You need a ping tree. This is the ability to offer the lead to multiple buyers if the 1st buyer rejects...
Our ping tree has 4 buyers in it and MEM are 1st in the queue.

I prefer pay per lead and not pay per sale. Short answer is I know what im going to get for each days worth of PPC.. I don't have to wait to see if they convert etc.

* My comment about MEM not accepting/converting enough is no reflection on them, they are the best in the business but they dominate in online lead generation, this is the main problem of why they accept so low, cos 80% of the time someone beat you to it, lol.

More info on our payday fees is at : 123 DS Fee Structure and on PPC lead generation across the ping tree you should see 20%-40% acceptance ratios.

123 (or anyone else in payday loans),

What payday loan software are you using?

there seems to be a lot of rubbish stuff out there...

Thanks in advance,
Craig

[123debtsolutions]

Hi Ninad

Sorry about the delay..
We only work pay per lead... And 20%-40% is good... Most ppc introducers will be doing well if they achieve 15-25%... If you think outside the box or you ahve other means of lead generating than PPC or SEO then yes you can achieve in excess of 20%+...

When you say software, im a bit confused by this... The form we use is a single form that can be placed into any web page using an iFrame. The power behind it is written by us in house. Most ping trees are designed by the network to work with the selected merchants.

Tuna-Fish, to my knowledge any payday merchant that can accept leads via XML will integrate within a ping tree. There are only about 6 merchants worth dealing with and MEM are the dominators...

Lee