Payday - PPC

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bigbyte

bigbyte

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Oct 22, 2006
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Colorado
Having some problems with doing Payday offers via PPC. Overall my CTR from ad to landing page is 3-5%. People who fill out the form and apply is about 82%. However, the percentage of applications being declined is very high. Main reason is that the people who apply are already on the black list of the Payday lenders. And No, this is not due to scrubbing.

So, I guess my keywords and ads are attracting the wrong customers. Have been using keywords related to faxless cash loans, instant cash advance - stuff like that. Also trying to weed out people that will not meet requirements by injecting other offers, but now luck. I am mainly using YSM for the traffic.

Any suggestions on how to turn this around? What kind of ads would do a good pre-sell or filter out the "bad apples". Is YSM traffic for Payday bad and I am better of with Big G or MSN?
 


Payday loans via PPC is a very very competative market - you need to realize that you're competing with the direct advertisers that have internal marketers. Most the PayDay loan stuff I've had success with is through media buying.

Either way - very very competative, especially when you figure the effective CPA for the advertisers is probably 5x what they're paying you. Not trying to get you down - I've just had little success on search with it.
 
payday on ppc... lol. forget it. those $60 lead payouts might be enticing, but there's no way you're gonna break even with $6+ CPCs. even if you get on a tiered revshare payout, only about 5% of those leads are going to be on the 1st tier. also, to even come close to breaking even, you need to remain in the top few spots, because if your applicant has applied to several other lenders before they apply on your site, chances are you're not going to sell the lead on any tier.
 
Just fyi with G you'll be paying about $7 for the first page near the bottom. As people said it's a really tough market. I hope you at least have some better payouts going than the offers on CPA networks.
 
I learning my way though the Payday game, but I am no way paying even $1.5 for my clicks.

I guess I must have the right long tails.

My challenge is just getting enough of them.
 
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