What Happened To Payday Loan Industry For Affiliates

16 replies
3+ years in this niche and never seen the payouts worse, EPL in 2015 were above $3 and now are way below $1

I've tried: T3leads, LeadsMarket, ZeroParrallel, Leadsgate and they are all pretty unimpressive these days.

I'm still generating over 1000 leads a month if anyone has suggestions for a better platform to monetize I'd appreciate the tip.

thanks
#affiliate #affiliates #happened #industry #loan #payday
  • Profile picture of the author nicheblogger75
    A lot of states have banned payday loans. I know they are illegal in the state I live in now. That could be why the industry has started to pay less. I guess if they are not allowed in a lot of states anymore that would be a lot less potential customers which would result in lower payouts.
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    • Profile picture of the author loannet
      For sure the regulatory changes will impact the market, there is a need for consumers to have access to short term loans, what the right mix for this is I am not certain, but I am able to quickly pivot to more reputable lending platforms with an established traffic base, just trying to figure out what avenues make the most sense and allow for a solid ROI from an online marketers perspective.
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    • Profile picture of the author loannet
      I posted for some ideas on other platforms, I am not promoting a specific program.
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  • Profile picture of the author Richard Rago
    Hey loannet,

    Not sure if this is the info you're looking for, but I just checked PeerFly and they have more than a few 'Payday Loan' CPA offers with commissions from $16-$60, depending on conversion point.

    Cheers.
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    • Profile picture of the author loannet
      Thanks, essentially I think all of cpa sites like peerfly are actually further down the transaction stream and send their traffic to the lead aggregators who then filter leads through a ping tree to find buyers

      All of the companies I mentioned promote monetization up to $220 per lead, ive done over 20k leads in 3 years, never once have I seen a lead sell for over 150, the real issue is the EPL has dropped so low, which is crazy because to advertise on Google adwords for these terms is $5-10 per click which no one would do if there was not $ somewhere in the pipeline.

      I am just unclear if the market is really that bad, if the companies I am working with have gotten overly greedy and are really paying what the market indicates or if pushing my traffic closer to the end user via a different platform would improve my monetization.
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  • Profile picture of the author Steve B
    Originally Posted by loannet View Post

    What Happened To Payday Loan Industry For Affiliates

    People are learning how outrageously expensive payday loans really are. Many consumer watchdog agencies, credit and banking agencies, governments and the FTC are warning the public about the industry.

    I would suggest you find a different marketplace.

    Steve
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    • Profile picture of the author nicheblogger75
      Originally Posted by Steve B View Post

      People are learning how outrageously expensive payday loans really are. Many consumer watchdog agencies, credit and banking agencies, governments and the FTC are warning the public about the industry.

      I would suggest you find a different marketplace.

      Steve
      I agree. Payday loans are the biggest ripoff going. Arizona made them illegal several years ago. There were tons of check cashing stores that had to shut down because the majority of their business was these predatory loans.

      I wouldn't even feel comfortable promoting something like that. Another loan they are trying to stop here in Arizona are those ridiculous automobile "title" loans. Another huge ripoff.

      I know sometimes people get in a bad way financially but to put up the title of your car for a measly $500 is absolutely ridiculous. Think about this for a second. These places that give title loans are actually hoping that you can't make the payments so they can come and repossess your vehicle. Imagine losing your car to these people for a lousy $500?

      I don't know what people are thinking sometimes. If they have to go and put their car up for $500, what makes them think that they are going to be able to come up with the money to make the payments? Not to mention that the loan company makes it damn near impossible to pay the loan off.

      Some of these companies charge 300% interest on these loans. That means if you borrow $500 you end up having to pay back $1500. That is outrageous. I wonder what the percentage is of people who default on these loans. I bet it's greater than 50%.

      I understand in the end that people are responsible for their own actions, and nobody is forcing them to take out a predatory loan, but I feel if they were outlawed then people would not even be able to get themselves into the position of losing their car over a lousy few hundred dollars.

      Not to mention the fact that when these people start to come after you to collect they are absolutely vicious. They think nothing of calling you 10+ times a day, calling on holidays, calling your employer, your family members, threatening to have the police come to your house and arrest you, etc.

      Again, I know nobody is forcing these people to go and get these loans, but I still think they shouldn't be legal, or at least they should have some sort of regulations as to how much interest they can collect.
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    • Profile picture of the author loannet
      Many industries in the affiliate space have similar horror stories, just not as much scrutiny (supplements, mlm, getting rich by working online, etc).



      Originally Posted by Steve B View Post

      People are learning how outrageously expensive payday loans really are. Many consumer watchdog agencies, credit and banking agencies, governments and the FTC are warning the public about the industry.

      I would suggest you find a different marketplace.

      Steve
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  • Profile picture of the author Brent Stangel
    I'm still generating over 1000 leads a month
    +

    Google adwords for these terms is $5-10 per click
    =_________

    Do I have to spell it out?
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    • Profile picture of the author loannet
      Perhaps as the marketplace seems quite out of proportion. Either the lead companies are screwing their affiliates or the market or their is another avenue that I have yet to discover.
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  • Profile picture of the author DIABL0
    I have never been big in PDL, but I'm curious about a couple things.

    The companies that you mentioned, can you host and post and do they provide their filters/pricing?

    What if you started developing your own buyers and set up your own ping tree, which can also include the companies you mentioned, so you can monetize them best?
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    • Profile picture of the author loannet
      Im sure you can host and post, but this involves more technical know how than I have. I have previously used Java forms they provided.

      Originally Posted by DIABL0 View Post

      I have never been big in PDL, but I'm curious about a couple things.

      The companies that you mentioned, can you host and post and do they provide their filters/pricing?

      What if you started developing your own buyers and set up your own ping tree, which can also include the companies you mentioned, so you can monetize them best?
      Signature

      Online marketing in various niches

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      • Profile picture of the author DIABL0
        Originally Posted by loannet View Post

        Im sure you can host and post, but this involves more technical know how than I have. I have previously used Java forms they provided.
        You need to be able to adjust to market changes in ways that will being your ROI back up. Host and post is just that you host the form, but rather than posting directly to the company, you could podt to your own pingtree and then post the lead to the company that will return the highest revenue for it. Which should also include your own buyers that you develop.
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        How to Build LARGE EMAIL LISTS on a Budget and MONETIZE Like a PRO
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  • Yup they use to make 3000% now they only make 1000%
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    soon people... Relax...
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  • Profile picture of the author DeePower
    Payday loans aren't actually loans, they are advances. Because they aren't loans there is no cap on the interest rate, because it isn't an interest rate but an application fee. That fee runs up to 15% of the amount of the advance. For example you agree to let the company take $500 out of your checking account in two weeks. The company gives you $425 today. If you can't pay back the $500 in two weeks, the company charges you another 15% and you now have to pay them $575. It escalates quickly.

    Dee
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  • Profile picture of the author nRehman
    You're right lead rates have come down to $0.80 ... there is a difference between sale and lead, if you want to earn more like $50 plus then try to work with the payday loan companies that pay on sales. Although it depends on your quality of traffic; say if you generate 100 excellent leads out of your 1000 that convert into sales then you can make more than $5000 in relation to $800-$1000 lead revenue.


    Originally Posted by loannet View Post

    3+ years in this niche and never seen the payouts worse, EPL in 2015 were above $3 and now are way below $1

    I've tried: T3leads, LeadsMarket, ZeroParrallel, Leadsgate and they are all pretty unimpressive these days.

    I'm still generating over 1000 leads a month if anyone has suggestions for a better platform to monetize I'd appreciate the tip.

    thanks
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