Marketing Case Study: Payday Loans with T3Leads

In this case study I will release all of the extremely valuable data about my $200 per day Payday Loans lead generation advertising campaign – everything! The campaign was going well until Google stopped me; they told me that I need a financial services license to promote Payday Loans. I was promoting Payday Loans as an affiliate using T3Leads. T3 Leads is a pay per lead affiliate program, they auction the leads I generate to a network of lenders, but Google thinks me as the advertiser should also have a financial services license.

T3Leads is a good network. Their main strength is their payouts which range from $1.50 to $130 per long-form lead, with payouts depending on lead quality factors like home ownership, employment status, and outstanding loans. My average lead price is $22, but this is skewed downwards by bad keywords like ‘Loans’ and skewed upwards by good ones like ‘Check Advance’. I also have a rejection rate of ~67%, so my average earnings per lead is $22 * 33% = $7.26. Their weakness is probably my account manager, who is just average, he lacks thorough knowledge (for example, knowledge of IT) so a lot is left up to me. Overall they’re a good company.

I’ll start with the conclusions I made from the campaign then move onto campaign details and keywords and such.

Conclusions

• Mobile: Mobile visitors convert better than PC visitors, and they are far cheaper to target since there is less competition for mobile advertising. Of mobile devices, Android made up 99% of my mobile traffic when promoting using Google Adwords.

  Device	Visitors	Conversions
  Mobile	1744	98 (5.6%)
  Computer	119	0 (0%)

• Adwords: Google display network sucks for payday loans. Google search partners sucks for payday loans. Google search is the only method that works. I don’t have much data for display network and search partners since I paused then quickly after they proved to be junk.

  Network	Visitors	Conversions
  Google Search	1767	98 (5.5%)
  Search Partners	70	0 (0%)
  Display Network	27	0 (0%)

• Keywords: Broad keywords like ‘Loans’ suck (my earnings per visitor is $0.32), the lead quality is junk so the leads are usually rejected or paid only $1.50. This is likely because the lead has applied with lots of companies already. Keywords containing ‘Payday Loans’ are pretty good (my earnings per visitor is $2.20), these people are better leads. Obscure phrases like ‘Emergency Loans’ and ‘Check Advance’ convert really well with $5.00+ earnings per visitor. I guess they have not searched for payday loans before, so they are good quality leads.
• Weekends: Weekend visitors get rejected far more often, I guess the quality is worse since their psychology is different. They are in a different mindset than people in the week.
• Upselling: Any leads that get rejected should be monetized. By default that traffic disappears into thin air, but if you put in some effort you could monetize those rejected leads with a credit reporting offer or something (Convert2Media or W4 could provide those offers).

So as I mentioned, mobile traffic is far better than computer traffic, so I made a mobile site. You can see it here – Payday Loans Mobile Site, even rip the HTML if you like. It’ll look broken in everything but Android… This mobile site helps mobile traffic to convert a bit better than a normal site would. The site is pretty simple showing a short form on the homepage, then showing an embedded long-form from T3Leads on the second page.

Overall the campaign has the following conversion rates: 59% of visitors into short leads, 25% of visitors into long leads, 34% of long leads paid out, $23.55 average earnings per paid lead.

The most effective ad I found utilizes numbers in the heading and looks like the following. My campaign-wide CPC is $1.35, and would be more like $2.00 if I was targeting computers, but luckily mobile converts better anyway. The trouble is that if I drop the CPC I will move from the first page to the second page and then the lead quality falls (the visitor would have already applied at other sites).
I guess that only leaves keywords. Have I missed anything? Here’s the most recent leads –

Search Phrase	Lead Value
Payday Loans Las Vegas Nevada	$2
Payday Loans Dallas Tx	$1.5
Check Advance Placed	$2
Pay Day Advance	$72
Payroll Loans	$2
24 Hour Loans	$72
Emergency Loan	$2
Payday Loans	$14
One Day Loans	$6
Payday Loans For With 17.50 Fee Per 100	$56
Laons	$80
Personal Loans 1 Hour	$2
Loans With No Credit Check	$2
Emergency Loan	$20
Checkntogo	$2
Check Advance	$55
	$2
Www.paydayloan.com	$2
Low Intrest Loans No Credit Check	$20
Check Advance	$20
Loans With No Credit Check	$2
Numbers To Call For Payday Advance	$24
Loans Same Day	$2
Loans With No Credit Check	$72
Caah Loans	$2
24 Hr Loans	$2
No Credit Loan	$2
Payday Loan	$1.5
Starter Loans Online	$2
Samedayloans	$1.5
Easy Loans	$2
Same Day Loans Online	$2
Check Advance	$140
Payday Advance	$2
No Credit Check Loans	$2
Looking For A Real Payday Loan No Scam In Philadelphia	$1.5
Ez Personal Loans Up To $500 Today No Credit Check	$2
Pay Day One	$32
	$2
	$1.5
Same Day Loans Albuquerque Nm	$55
Online Loans Same Day	$3.5
Paydayloans Now	$2
Loans Online	$2
Direct Deposit Emergency Loans	$2
Payday Loans In Brown Deer Wi	$2
Get A Loan For 2000 Dollars	$32
1000Loan	$35
Baltimore Payday Loans	$80
	$27
	$24
Pau Dau Loan.com	$2
Los Angeles Payday Loans	$1.5
Payday Loans	$56
Instant Advance Loans	$1.5
Online Pay Advances	$72
Quick Money Loan	$72
Direct Deposit Loans	$20
Payday Loans St.louis	$1.5
	$32
Loans No Credit Check	$32
Pay Day Loans	$24
24 Hour Loans	$20
Short Term Loans Naperville Il	$2
Term Loans	$1.5
Same Day Loan	$24
	$2
Preapproved 1hr Personal Loan	$2
Online Preapproved Loans	$80
Apply For Bank Loan Online	$11
Short Term Loan	$2
Online Loan	$2
Pasadena Tx Advance Pay Loans	$55
Lones	$60
Instant Loans	$2
Online Loan Application	$72
Minute Advance Loan	$2
Online Loans	$2
	$1.5
Ace Loans Online	$2
Loans	$31
Payday Loans Without Checking Account	$72
Check N Go Loans	$72
No Credit Check Loans	$72
Www.national-paydayloan.com	$27
1 Hour Loans	$74
Fast Cash Loans	$26
Internet Loans	$32
Get Personalloans No Credit Check	$2
No Fax Payday Loans Direct Lenders	$1.5
Instant Loans No Credit Check	$1.5
PAYDAYLONS.COM	$16
	$1.5
CASH ADVANCES, WHEATLAND, WY	$6
Fast Cash	$1.5
Loans	$2
Loans 1000 No Credit Checks	$20
Same Day Loans	$2
One Hour Loans	$2
Loan	$2
Emergency Loans	$2
Pay Advance	$1.5
Payday Loans With Ssi Benefits	$2
Payday Loans Online	$20
Payday Loans	$55
7 Days A Week Pay Day Loans	$24
No Check Payday Loan	$27
Quick Cash	$20
Personal Loans 5k 15k	$2
Signature Loans, Okc	$72
Emergencyloans	$20
Credit Score Of 300 Loans	$127
Www.paydayloan.com	$11
Gaurenteed 1000 Dollar Loan	$6
Www.cashloans.com	$1.5
Faxless Loans	$113
Payday Lenders Only	$20
Check Advance Stamford Ct	$80
Pay Day Loans	$20
5000 Dollar Loan Fast	$80
Payday Loan Lenders	$1.5
Guaranteed Loans With No Credit Check	$1.5
Check Advance	$39
	$1.6

Following is all of the keywords with either 2 visitors or more, or 1 visitor and some earnings.

Search Phrase	Visitors	Short Form CVR	Long Form CVR	Total Earnings	EPV
Loans	102	0.6176	0.2156	33	0.32
	87	0.6207	0.2873	91.5	1.05
Loans With No Credit Check	41	0.7073	0.219512195121951	76	1.85
Payday Loans	27	0.6667	0.37037037037037	125	4.63
Www.paydayloan.com	16	0.6875	0.3125	13	0.81
Payday Loans Online	14	0.6429	0.214285714285714	20	1.43
Online Loans	13	0.8462	0.384615384615385	2	0.15
No Credit Check Loans	11	0.7273	0.454545454545455	74	6.73
Loan	11	0.5455	0.181818181818182	2	0.18
Same Day Loans	11	0.5455	0.181818181818182	2	0.18
Instant Loans	11	0.8182	0.363636363636364	2	0.18
Check Advance	10	0.5	0.4	215	21.5
Emergency Loans	9	0.6667	0.111111111111111	2	0.22
Short Term Loans	9	0.4444	0	0	0
Ace Loans	8	0.5	0.125	0	0
Pay Day Loans	7	0.8571	0.428571428571429	44	6.29
Paydayloans	6	0.5	0.333333333333333	0	0
Loans Online Instant Approval	6	0.6667	0.5	0	0
1 Hour Loans	6	0.8333	0.333333333333333	74	12.33 (I stop underlining here)
Www.loan Shop.com	6	1	0	0	0
One Hour Loans	5	0.8	0.6	2	0.4
Advance Loans	5	0.8	0.4	0	0
Same Day Loans Online	5	0.8	0.2	2	0.4
Fastcash-advance.com	5	0.6	0.2	0	0
Cash Loans	4	0.5	0.25	0	0
Loan By Phone	4	0.25	0.25	0	0
Pay Advance	4	0.75	0.5	1.5	0.38
Easy Loans	4	1	0.5	2	0.5
Small Loans	4	0.5	0	0	0
Ace Loans Online	4	0.5	0.5	2	0.5
Loans Online	4	0.75	0.25	2	0.5
Lones	4	0.5	0.5	60	15
I Need 1500 Dollars Now	4	0.75	0	0	0
Check Abvance	4	0.5	0	0	0
Paytodaynow.com	4	0.25	0	0	0
24 Hour Loans	4	0.75	0.75	92	23
$1000 Loan	4	0.25	0.25	0	0
Signature Loans	4	0.5	0	0	0
Title Loans	4	0.75	0.25	0	0
Multi Payment Payday Loans	3	0	0	0	0
I Need A Payday Loan From A Direct Lender	3	1	0.333333333333333	0	0
Personal Loans	3	1	0.333333333333333	0	0
Online Loans Same Day	3	1	0.333333333333333	3.5	1.17
Signature Loans No Credit Check	3	0	0	0	0
Easy Pay Loans	3	0.3333	0	0	0
Payday Advance	3	1	1	2	0.67
Instant Loans Now	3	0	0	0	0
Cash Advances	3	0	0	0	0
PAYDAYLONS.COM	3	0.6667	0.333333333333333	16	5.33
Pay Loans Online	3	1	0.333333333333333	0	0
Payloans	3	1	0	0	0
Loans To Get Now	3	1	0	0	0
Www.national-paydayloan.com	3	0.6667	0.333333333333333	27	9
Loans No Credit Check	3	0.6667	0.333333333333333	32	10.67
Emergency Loan	3	1	0.666666666666667	22	7.33
Check Advance Locations	3	0.3333	0	0	0
Www.get My Loan .net	3	0	0	0	0
Pay Loan Up To 1000	3	0.3333	0	0	0
Short Term Loan	3	0.6667	0.333333333333333	2	0.67
100 Day Loans	3	0.3333	0.333333333333333	0	0
Loans In An Hour	3	0.6667	0.333333333333333	0	0
24 Hour Loans Online	3	0.6667	0	0	0
Need A Loan Today	3	0.6667	0	0	0
American Web Loan	3	0.6667	0.333333333333333	0	0
Pepper Cash Payday Loans	3	0.6667	0	0	0
Pay Loans	3	0.3333	0.333333333333333	0	0
Paydayloansonline	3	1	0.666666666666667	0	0
Samedayloans	3	0.6667	0.333333333333333	1.5	0.5
Short Term Loans Online	3	0.3333	0.333333333333333	0	0
Advance Payday Loans	2	1	0.5	0	0
Payday Loans Portland Oregon	2	0	0	0	0
Get A Loan Online	2	0.5	0	0	0
Title Loans Online	2	1	0.5	0	0
Loans For Bad Credit	2	0.5	0	0	0
Pay Day Loan	2	1	0	0	0
Missouri Payday Loan 63074	2	0	0	0	0
Long Term Payday	2	0	0	0	0
Sunbelt Loans Jacksonville Fl	2	0.5	0.5	0	0
Pay Day Loan Stores In Waukesha Wi	2	0	0	0	0
I Need A 300 Dollar Loan	2	1	0	0	0
Pay Day Loan Washington Dc	2	0	0	0	0
Instant Approval Payday Loans	2	0.5	0.5	0	0
Free Loans	2	0.5	0	0	0
Payday Loans With Ssi Benefits	2	0.5	0.5	2	1
Loan Advance	2	0.5	0	0	0
Paydayloan	2	0.5	0	0	0
Payday Loans Fast	2	0	0	0	0
Payloan	2	1	0.5	0	0
Badcreditloans	2	0	0	0	0
Checkadvanceinvallejoca	2	1	0	0	0
Cash Advance Usa	2	0	0	0	0
90dayloans	2	0.5	0	0	0
Overnight Loans	2	0.5	0.5	0	0
Quick Payday Loans	2	0.5	0.5	0	0
Loans By Phone In 1 Hour	2	0	0	0	0
Thousand Dollar Loans	2	0.5	0	0	0
Instant Loans No Credit Check	2	1	1	1.5	0.75
Internet Loans	2	1	0.5	32	16
Fast Cash Loans	2	1	0.5	26	13
Pls Loan Store	2	0	0	0	0
Payday Loans Without Checking Account	2	1	1	72	36
Guaranteed Approval Payday Loans	2	1	0.5	0	0
$500 Loan	2	0	0	0	0
Online Loan Companies	2	1	0	0	0
Loans Over The Phone	2	1	0	0	0
Same Day Loans No Credit Checks	2	0.5	0	0	0
Onlineloans	2	0.5	0	0	0
Online Lenders	2	1	0.5	0	0
Online Loan Application	2	1	1	72	36
Money Loans	2	1	0.5	0	0
Guaranteed Payday Loans	2	0.5	0.5	0	0
Low Interest Payday Loans	2	1	0	0	0
Loan Websites	2	0.5	0.5	0	0
500fastcash	2	0.5	0	0	0
Guaranteed Loan Approval	2	0.5	0	0	0
Payday Loan For People With Government Assisant	2	0	0	0	0
600 Loan No Verify Employment	2	0.5	0.5	0	0
Www.payday-loan-yes.com	2	1	0.5	0	0
Get 1000 Loan	2	1	0.5	0	0
Pay Advances	2	1	0	0	0
E Sign Payday Loans	2	0	0	0	0
Can I Get A Loan For1000 Dollars	2	0.5	0	0	0
Payday Loans Lane County	2	0.5	0	0	0
Free Payday Loans Online	2	1	0.5	0	0
I Need 1000 Dollar Loan	2	0.5	0	0	0
No Credit Check Loan	2	0.5	0	0	0
Payday Loans In Brown Deer Wi	2	0.5	0.5	2	1
Paydayloans Now	2	0.5	0.5	2	1
Western Sky Loans	2	1	0	0	0
Same Day Loans Albuquerque Nm	2	0.5	0.5	55	27.5
Looking For A Real Payday Loan No Scam In Philadel	2	0.5	0.5	1.5	0.75
Paydayloans.com	2	0.5	0.5	0	0
Loans By Phone	2	0.5	0	0	0
Instant Payday Loans	2	0	0	0	0
Starter Loans Online	2	0.5	0.5	2	1
Payday Loan	2	0.5	0.5	1.5	0.75
Payday Loan No Scam	2	0	0	0	0
Pay Loan Store	2	0	0	0	0
How To Get A Loan For Free	2	1	0	0	0
Instant Online Loans	2	0.5	0.5	0	0
Www..hourloans.com	2	1	0.5	0	0
Loan Company Morgan City La	2	1	0	0	0
Nextday Loans	2	1	0	0	0
24 Hour Loans In Brooklyn 11216	2	1	1	0	0
Payday Loans In Eugene Oregon	2	0	0	0	0
How To Make Quick Cash	2	0	0	0	0
Super Sonic Payday	2	0.5	0	0	0
Fleet Loans	2	0	0	0	0
Loans With No Verifications	2	0.5	0	0	0
Loan Today No Credit Check	2	0.5	0	0	0
Payday Loan Yes	2	0	0	0	0
Husky Payday Advance	2	1	0.5	0	0
No Fax Loans	2	0.5	0.5	0	0
My Cash Now Loan	2	0.5	0	0	0
Online Advance	2	0.5	0	0	0
5000 Dollar Loan Fast	1	1	1	80	80
Check Advance Stamford Ct	1	1	1	80	80
Payday Lenders Only	1	1	1	20	20
Faxless Loans	1	1	1	113	113
Www.cashloans.com	1	1	1	1.5	1.5
Gaurenteed 1000 Dollar Loan	1	1	1	6	6
Credit Score Of 300 Loans	1	1	1	127	127
Emergencyloans	1	1	1	20	20
Signature Loans, Okc	1	1	1	72	72
Personal Loans 5k 15k	1	1	1	2	2
No Check Payday Loan	1	1	1	27	27
7 Days A Week Pay Day Loans	1	1	1	24	24
Loans 1000 No Credit Checks	1	1	1	20	20
Fast Cash	1	1	1	1.5	1.5
CASH ADVANCES, WHEATLAND, WY	1	1	1	6	6
No Fax Payday Loans Direct Lenders	1	1	1	1.5	1.5
Get Personalloans No Credit Check	1	1	1	2	2
Check N Go Loans	1	1	1	72	72
Minute Advance Loan	1	1	1	2	2
Pasadena Tx Advance Pay Loans	1	1	1	55	55
Online Loan	1	1	1	2	2
Apply For Bank Loan Online	1	1	1	11	11
Online Preapproved Loans	1	1	1	80	80
Preapproved 1hr Personal Loan	1	1	1	2	2
Same Day Loan	1	1	1	24	24
Term Loans	1	1	1	1.5	1.5
Short Term Loans Naperville Il	1	1	1	2	2
Payday Loans St.louis	1	1	1	1.5	1.5
Direct Deposit Loans	1	1	1	20	20
Quick Money Loan	1	1	1	72	72
Online Pay Advances	1	1	1	72	72
Instant Advance Loans	1	1	1	1.5	1.5
Los Angeles Payday Loans	1	1	1	1.5	1.5
Pau Dau Loan.com	1	1	1	2	2
Baltimore Payday Loans	1	1	1	80	80
1000Loan	1	1	1	35	35
Get A Loan For 2000 Dollars	1	1	1	32	32
Direct Deposit Emergency Loans	1	1	1	2	2
Pay Day One	1	1	1	32	32
Ez Personal Loans Up To $500 Today No Credit Check	1	1	1	2	2
No Credit Loan	1	1	1	2	2
24 Hr Loans	1	1	1	2	2
Caah Loans	1	1	1	2	2
Loans Same Day	1	1	1	2	2
Numbers To Call For Payday Advance	1	1	1	24	24
Low Intrest Loans No Credit Check	1	1	1	20	20
Getting A Loan Online	1	1	1	2	2
Checkntogo	1	1	1	2	2
Personal Loans 1 Hour	1	1	1	2	2
Laons	1	1	1	80	80
Payday Loans For With 17.50 Fee Per 100	1	1	1	56	56
One Day Loans	1	1	1	6	6
Payroll Loans	1	1	1	2	2
Pay Day Advance	1	1	1	72	72
Check Advance Placed	1	1	1	2	2
Payday Loans Dallas Tx	1	1	1	1.5	1.5
Payday Loans Las Vegas Nevada	1	1	1	2	2

Sorry that this page is really ugly, but hopefully you get some useful data out of it. Ask any questions that you have. If you want to make money out of this I’d recommend finding an advertising network that lets you target Android users, and target either financial keywords or financial websites. If you do use my data to make some money, do me a favor and use my link to T3Leads. It’s a good network.