Cash advance/payday loans

Status
Not open for further replies.
K

ke111

New member
May 8, 2008
109
1
0
Someone recently told me that this niche has no money because the type of people who would be looking for these loans are not going to be on the internet.

Has anyone found this to be true?

Also, is this niche too competitive to get into?

If you are promoting this niche, who have you found to be your target market?
 


It is not true as this is one of the bigger areas in affiliate marketing. Think over 10 million but under 50 million in direct affiliate commissions a month. Sub prime consumer is on the internet but behavior is a bit different. It does have a ton of competition these days. (Just an FYI, our parent company is one of the largest backend providers of services to this industry so I have a ton of info on this vertical).

Also, is this niche too competitive to get into?

Depends on how you get your traffic. No where close to education market, but similar in that there is ton of business but they days of getting an ad up and making money are over.

If you are promoting this niche, who have you found to be your target market?

Take a look at the demo's of some of the bigger websites in quantcast or compete. Just briefly, tends toward female, 25-35.
 
ke111 said:
Someone recently told me that this niche has no money because the type of people who would be looking for these loans are not going to be on the internet.
Click to expand...

That someone has no idea.

Also, is this niche too competitive to get into?
Click to expand...

It is competitive, since you need to ask it's probably to competitive for you.

If you are promoting this niche, who have you found to be your target market?
Click to expand...

People that need the money *shrug* - who else?

- Working moms
- People in between jobs

You name it...

Choose a different niche is my advice to you.
 
Crashem:

Very interesting info. Thanks for that. I would never have guessed females, but that makes sense as this group would probably have young children, are probably divorced/are single parents and they have continous cash flow issues, especially if getting child support is difficult to come by.

It sounds very competitive though. I'm surprised college students are not the highest users - given that they are on the internet and they don't have a lot of cash, but would need loans for books and other living expenses.
 
Single biggest reason for cash advance (as quoted from the industry) is for car repairs.

As for college students, remember that these loans are for people with jobs so college students make bad customers. They have nothing to pay it with.

If you answer how to you planning on getting traffic, I'll let you know if it would be tough to get into it.

ke111 said:
Crashem:

Very interesting info. Thanks for that. I would never have guessed females, but that makes sense as this group would probably have young children, are probably divorced/are single parents and they have continous cash flow issues, especially if getting child support is difficult to come by.

It sounds very competitive though. I'm surprised college students are not the highest users - given that they are on the internet and they don't have a lot of cash, but would need loans for books and other living expenses.
Click to expand...
 
I plan on using ppc to get traffic. Now how tough will it be.

Many college students today have jobs.
 
The important thing with payday loans or any other competitive niche is to effectively describe your target demographic. The kinds of people who get payday loans share a common trait: they're really fucking stupid.

So just think of the dumbest, most ignorant, borderline literate people there are: pregnant teens, white trash trailer park dwellers, Southern rednecks, evangelical Christians,etc.

Market payday loans to them and you'll do fine. Unless they're in community college, students are probably too smart to get a payday loan.

In summary, the more averse your audience is to reading the better they'll convert for payday loans.
 
ke111 said:
I plan on using ppc to get traffic. Now how tough will it be.

Many college students today have jobs.
Click to expand...


PPC traffic is going to be competitive. It seems that the affiliates who have learned a bit about how the industry's backend works seem to do a bit better since there are a lot of ways to skin this cat, but just putting a direct link or simple doorway page will cause you to lose a bunch here. If you are still interested, feel free to PM with any specific questions.

eg Review Site, Intermediate Doorway page.
 
ke111 said:
Someone recently told me that this niche has no money because the type of people who would be looking for these loans are not going to be on the internet.

Has anyone found this to be true?

Also, is this niche too competitive to get into?

If you are promoting this niche, who have you found to be your target market?
Click to expand...

thats totally untrue. payday is a big market. Emailers kill it with payday loan offers
 
PRandContent said:
My guess is this is still a profitable niche to get into. Judging by the many article pack orders that I get on this niche, I'd say yes.
Click to expand...


The sub-prime vertical, specifically Payday Loan/Cash Advance Offers can be extremely lucrative if you have the right skill sets, especially in PPC. Like any product or service you want to promote, you need to do your research & test, test, test!! What method works for one person may not work for you, so you need to find the right fit for your individual campaign.

I have seen publishers start out making a couple hundred dollars a month, growing that to a couple thousand dollars and ultimately growing that into the 6 figure realm. It will not happen overnight, but making those kind of numbers is a reality.

If anyone has any questions regarding payday in general or about the program, feel free to hit me up.

-=Chipmunk=-
 
Here is one of my untried ideas for this niche.

I just need another 20 hours a day or I would have tried it already.

Find a way to get info from the power or cable company of their customers who are getting their service cut off. This should not be too hard but if you run into problems getting the info simply contact one of the workers who go out to the house and cut the service. They get a print out of addresses each day on where they are to go and "work" Simply ask him to save those for you:) Give him a few bones for it and you are set.

Now you have a very targeted list of potential leads for a number of offers.


Jschmidli
 
This is one niche where a noob can easily lose $$$$ in a day (sometimes even before he wakes up). However, that said, you won't know until you try it. Set a small budget (not sure if that will get you enough clicks since the top 10 results min cpc is bet $5-$15 I think) and go try it.
 
Someone recently told me that this niche has no money because the type of people who would be looking for these loans are not going to be on the internet.
Click to expand...

As mentioned above, this notion is beyond stupid. I promote online payday/advance offers offline and get tremendous response rates out of classifieds and bulletins. So my traffic not only is online, they actually are motivated to get online for the purpose of checking out payday/advance offers.


Frank
 
offline?

fm1234 said:
As mentioned above, this notion is beyond stupid. I promote online payday/advance offers offline and get tremendous response rates out of classifieds and bulletins. So my traffic not only is online, they actually are motivated to get online for the purpose of checking out payday/advance offers.


Frank
Click to expand...

Offline? meaning what? you are paying to put classified ad's in newspapers?

My gut tells me that there are a lot more educated, smart people who quietly need payday loans in this bad economy, but who'll be too embarrassed to walk into a physical store. These are the people who will go on-line because it's private.
 
A word of wisdom when it comes to payday. Payout Means NOTHING. All advertisers are NOT created equal. See there's a lot that happens on the backside you have no idea about. As I always say EPC speaks the only true voice.

If you're looking at this niche make sure you ask someone that's been running traffic in it. Because even with the perefect storm of you getting the right keywords, cheap traffic, etc you could still crash and burn hard. Know your offer before you start.
 
smaxor said:
A word of wisdom when it comes to payday. Payout Means NOTHING. All advertisers are NOT created equal. See there's a lot that happens on the backside you have no idea about. As I always say EPC speaks the only true voice.

If you're looking at this niche make sure you ask someone that's been running traffic in it. Because even with the perefect storm of you getting the right keywords, cheap traffic, etc you could still crash and burn hard. Know your offer before you start.
Click to expand...

I second the comments on paying attention to eCPC and not payout on any offer. The only thing I would add is make sure you are calculating eCPC off your click count. There are some networks that scrub clicks (either to raise their eCPCs or/and use it to scrub conversions).
 
Status
Not open for further replies.
Top Bottom