Leadgen provides a great opportunity to promote microloan offers from partners from all over the world. In this article, we’ll show you the most common types of offers, analyse the current trends and reveal the best traffic sources for earning on leadgen!
Types of Microloans Available with Leadgen Offers
Payday loans are loans of smaller amounts designed to help people who need money before their next paycheck. They are usually loans of between $100 and $1000 with much higher interest rates. Payday loans are popular all around the world, but especially so in the UK and US.
In terms of payday loans, the UK is the biggest market, closely followed by the US. Current statistics show that about 140 million Americans use small loans each year. Which is more than ⅓ of the population! (US population is estimated at 329.5 million in 2020).
The most popular types of micro-loans:
● microcredits on a card before the salary;
● microloans to buy a car;
● a supplementary income loan (often taken by Uber taxi drivers).
Approximately 73% of Americans have turned to an institution for instant financial assistance at least once in their lives. 69% of this audience use microloans to pay off current credit card debts, pay rent, or to buy necessities and groceries.
Who are these people? Let’s look at the basic criteria for the target audience:
● age 25-69;
● do not have a higher education;
● have an average annual income between 15-25 thousand dollars;
● are living in rented accommodation.
The top US states to run microloan offers in 2022 are Louisiana, Kansas, Alabama and Nevada. California, Idaho and Oregon are also among the top hotspots.
When selecting spot promotion by GEO, restrictions should be considered. For example, microloans are banned in states such as Montana, Vermont, West Virginia, Indiana, Minnesota, Arkansas, New York and Connecticut.
Always check the current restrictions in the selected region before launching!
Car Loans
Another lucrative type of loan offer is car loans. Loans for the quick purchase or rental of used cars and parts are very popular because many Americans make their livings as drivers including taxi and delivery drivers. Plus, lliving in the US without a personal vehicle, especially in the suburbs, is virtually impossible.
There are also more than 16.7 million car accidents occur each year in the US. A huge number of people who crash do not have insurance and are looking for ways to get back on the road as soon as possible.
60% of the audience are looking for ways to get a quick loan online without visiting physical banking institutions. Therefore, you can create well-constructed sales funnel to help to attract huge numbers of customers without a huge investment.
Sources of lead generation traffic
Leadgen provides a wide range of traffic sources for the web. Here it is possible to use context targeting via a search engine using branded queries. Using SEO and Facebook Ads are also great sources, but be sure to read the ad policies as loan offers fall into the Credit special Ads category on FB.
Less popular, but working sources include push, SMS and Email traffic.
Google Ads and Bing Ads are the leaders in terms of traffic in the USA. Google has the highest number of targeted queries, but you can get banned for using long-tail keywords. Bing, on the other hand, allows you to use long-tail keywords at low rates. If you are setting up PPC ads in Google, we advise you not to include the lender’s company name in the ad.
How much money can be made from microloan leadgen offers?
Microloans, car loans and insurance sales are great offers where you can have a real, stable and high income. Depending on the type of offer and advertising, you can get anywhere from $3 to $230 per lead. Plus, all leads are tracked in real-time, with no long hold times.
As a rule, this vertical always has high conversion rates, and many affiliates help profitably monetise residual traffic. Converting Team has a ton of great leadgen offers with high payouts once a week, as well as 24⁄7 support!