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.


  • 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 PhraseLead 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 $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
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
Pau Dau $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
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
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
Ace Loans Online $2
Loans $31
Payday Loans Without Checking Account $72
Check N Go Loans $72
No Credit Check Loans $72 $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
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 $11
Gaurenteed 1000 Dollar Loan $6 $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
Following is all of the keywords with either 2 visitors or more, or 1 visitor and some earnings.
Search PhraseVisitorsShort Form CVRLong Form CVRTotal EarningsEPV
Loans With No Credit Check410.70730.219512195121951761.85
Payday Loans270.66670.370370370370371254.63
Payday Loans Online140.64290.214285714285714201.43
Online Loans130.84620.38461538461538520.15
No Credit Check Loans110.72730.454545454545455746.73
Same Day Loans110.54550.18181818181818220.18
Instant Loans110.81820.36363636363636420.18
Check Advance100.50.421521.5
Emergency Loans90.66670.11111111111111120.22
Short Term Loans90.4444000
Ace Loans80.50.12500
Pay Day Loans 70.85710.428571428571429446.29
Loans Online Instant Approval60.66670.500
1 Hour Loans60.83330.3333333333333337412.33 (I stop underlining here) Shop.com61000
One Hour Loans50.80.620.4
Advance Loans50.80.400
Same Day Loans Online50.80.220.4
Cash Loans40.50.2500
Loan By Phone40.250.2500
Pay Advance40.750.51.50.38
Easy Loans410.520.5
Small Loans40.5000
Ace Loans Online40.50.520.5
Loans Online40.750.2520.5
I Need 1500 Dollars Now40.75000
Check Abvance40.5000
24 Hour Loans40.750.759223
$1000 Loan40.250.2500
Signature Loans40.5000
Title Loans40.750.2500
Multi Payment Payday Loans30000
I Need A Payday Loan From A Direct Lender310.33333333333333300
Personal Loans310.33333333333333300
Online Loans Same Day310.3333333333333333.51.17
Signature Loans No Credit Check30000
Easy Pay Loans30.3333000
Payday Advance31120.67
Instant Loans Now30000
Cash Advances30000
Pay Loans Online310.33333333333333300
Loans To Get Now31000
Loans No Credit Check30.66670.3333333333333333210.67
Emergency Loan310.666666666666667227.33
Check Advance Locations30.3333000
Www.get My Loan .net30000
Pay Loan Up To 100030.3333000
Short Term Loan30.66670.33333333333333320.67
100 Day Loans30.33330.33333333333333300
Loans In An Hour30.66670.33333333333333300
24 Hour Loans Online30.6667000
Need A Loan Today30.6667000
American Web Loan30.66670.33333333333333300
Pepper Cash Payday Loans30.6667000
Pay Loans30.33330.33333333333333300
Short Term Loans Online30.33330.33333333333333300
Advance Payday Loans210.500
Payday Loans Portland Oregon20000
Get A Loan Online20.5000
Title Loans Online210.500
Loans For Bad Credit20.5000
Pay Day Loan21000
Missouri Payday Loan 6307420000
Long Term Payday20000
Sunbelt Loans Jacksonville Fl20.50.500
Pay Day Loan Stores In Waukesha Wi20000
I Need A 300 Dollar Loan21000
Pay Day Loan Washington Dc20000
Instant Approval Payday Loans20.50.500
Free Loans20.5000
Payday Loans With Ssi Benefits20.50.521
Loan Advance20.5000
Payday Loans Fast20000
Cash Advance Usa20000
Overnight Loans20.50.500
Quick Payday Loans20.50.500
Loans By Phone In 1 Hour20000
Thousand Dollar Loans20.5000
Instant Loans No Credit Check2111.50.75
Internet Loans210.53216
Fast Cash Loans210.52613
Pls Loan Store20000
Payday Loans Without Checking Account2117236
Guaranteed Approval Payday Loans210.500
$500 Loan20000
Online Loan Companies21000
Loans Over The Phone21000
Same Day Loans No Credit Checks20.5000
Online Lenders210.500
Online Loan Application2117236
Money Loans210.500
Guaranteed Payday Loans20.50.500
Low Interest Payday Loans21000
Loan Websites20.50.500
Guaranteed Loan Approval20.5000
Payday Loan For People With Government Assisant20000
600 Loan No Verify Employment20.50.500
Get 1000 Loan210.500
Pay Advances21000
E Sign Payday Loans20000
Can I Get A Loan For1000 Dollars20.5000
Payday Loans Lane County20.5000
Free Payday Loans Online210.500
I Need 1000 Dollar Loan20.5000
No Credit Check Loan20.5000
Payday Loans In Brown Deer Wi20.50.521
Paydayloans Now20.50.521
Western Sky Loans21000
Same Day Loans Albuquerque Nm20.50.55527.5
Looking For A Real Payday Loan No Scam In Philadel20.
Loans By Phone20.5000
Instant Payday Loans20000
Starter Loans Online20.50.521
Payday Loan20.
Payday Loan No Scam20000
Pay Loan Store20000
How To Get A Loan For Free21000
Instant Online Loans20.50.500
Loan Company Morgan City La21000
Nextday Loans21000
24 Hour Loans In Brooklyn 1121621100
Payday Loans In Eugene Oregon20000
How To Make Quick Cash20000
Super Sonic Payday20.5000
Fleet Loans20000
Loans With No Verifications20.5000
Loan Today No Credit Check20.5000
Payday Loan Yes20000
Husky Payday Advance 210.500
No Fax Loans20.50.500
My Cash Now Loan20.5000
Online Advance20.5000
5000 Dollar Loan Fast1118080
Check Advance Stamford Ct1118080
Payday Lenders Only1112020
Faxless Loans111113113
Gaurenteed 1000 Dollar Loan11166
Credit Score Of 300 Loans111127127
Signature Loans, Okc1117272
Personal Loans 5k 15k11122
No Check Payday Loan1112727
7 Days A Week Pay Day Loans1112424
Loans 1000 No Credit Checks1112020
Fast Cash1111.51.5
No Fax Payday Loans Direct Lenders1111.51.5
Get Personalloans No Credit Check11122
Check N Go Loans1117272
Minute Advance Loan11122
Pasadena Tx Advance Pay Loans1115555
Online Loan11122
Apply For Bank Loan Online1111111
Online Preapproved Loans1118080
Preapproved 1hr Personal Loan11122
Same Day Loan1112424
Term Loans1111.51.5
Short Term Loans Naperville Il11122
Payday Loans St.louis1111.51.5
Direct Deposit Loans1112020
Quick Money Loan1117272
Online Pay Advances1117272
Instant Advance Loans1111.51.5
Los Angeles Payday Loans1111.51.5
Pau Dau Loan.com11122
Baltimore Payday Loans1118080
Get A Loan For 2000 Dollars1113232
Direct Deposit Emergency Loans11122
Pay Day One1113232
Ez Personal Loans Up To $500 Today No Credit Check11122
No Credit Loan11122
24 Hr Loans11122
Caah Loans 11122
Loans Same Day11122
Numbers To Call For Payday Advance1112424
Low Intrest Loans No Credit Check1112020
Getting A Loan Online11122
Personal Loans 1 Hour11122
Payday Loans For With 17.50 Fee Per 1001115656
One Day Loans11166
Payroll Loans11122
Pay Day Advance1117272
Check Advance Placed11122
Payday Loans Dallas Tx1111.51.5
Payday Loans Las Vegas Nevada11122
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.

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