Payday Loan Question

by Hazen616

Posted: 10 years ago 6 replies

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Which is better... To push Short-Form or Long-Form offers for Payday Loan? Very hard trying to decide.

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#loan #payday #question

SuperKC 10 years ago

Short will always convert better.. long sometimes pays more money. But before you waste your time.. payday loans (outside of very localized dealings) is a market that is hard to reach and no longer profitable. You have to consider market saturation and what not.. go for the low hanging fruit out there rather then trying to rebuild Rome to make a dollar.
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nameless7 10 years ago

Short-form offers are definitely more profitable. Long-form offers look too complicated and nobody want to fill long-form
By the way payday loans market is still very remunerable
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badboy_Nick 10 years ago

Originally Posted by Hazen616

Which is better... To push Short-Form or Long-Form offers for Payday Loan? Very hard trying to decide.

Short forms convert much better but the lead quality can subsequently suffer. Also, payday loans have a very high duplicate/scrub rate due to the nature of the market (i.e. sub-prime, high risk, etc).

It is also extremely competitive so you might want to look at other loan type products such as secured/unsecured ... or even into insurance like life, income, health, etc. These tend to have a much lower scrub rate and the forms are about average sized but fit nicely on one page (i.e first page submits), so conversion rates are still pretty good.

Nick
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CyberSail 10 years ago

Short forms are less intimidating.
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ChrisBa 10 years ago

Short forms are normally easier, but often pay less, your best bet is to split test between them to find out what converts best for your specific campaigns
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InstantSuccessClub 10 years ago

Always short form keep things simple plus top tip test different landing pages om a url rotator and track your conversions
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