*Disclaimer: we do not buy or sell leads. This page is an overview of the payday lead generation industry.
The Payday Loan (also known as cash advance) industry has changed significantly in recent history. While it used to be a loosely regulated gold mine for lead generation companies, additional government oversight in various states have altered industry standards and the areas of operation.
Although the state of payday leads has changed in recent years, it still remains an extremely profitable vertical for many lead generation companies. As much of the payday industry has moved to online transactions, lead companies have been able to grab a portion of the market share and profit. Payday leads are more complex than most leads. With state, income, ABA, age, military status, employment status, time of day, day of week, payment method, account type, and payment frequency all serving as commonly required fields, forms for payday leads are often longer than other lead verticals. However, this long yet consistent list of fields also means that these leads can be sold and delivered to buyers on a more granular level.
Payday leads are generated the same way as any other lead. However, with payday leads there is a unique process of selling the lead to your network of buyers. Instead of agreeing on one set price for all of your leads, buyers set up a tiered pricing structure that specifies exactly how much they will pay for any given lead. This pricing model acts like a waterfall with your lead distribution system first attempting to sell each lead to your buyer at their highest tier. If the buyer rejects the lead at the top tier, your system tries to sell it at the next tier. This process continues all the way down the buyer’s waterfall until the lead is sold.
Unlike other lead verticals in which you can occasionally operate in without a lead distribution system, payday leads require a sophisticated solution that can handle the tiered (waterfall) pricing structure. The payday vertical also requires custom deliveries to the buyer’s lead management system and the buyer must return a click through URL. Your lead distribution system must then convert that URL into a trackable link and return the accept message to the lead seller/form. The lead is then redirected to that trackable URL which bounces through your lead system and on to the buyer’s click through URL.
By bouncing through your lead system, you can track click through rates, which is very important to your buyers. If they do not see a high enough click through rate, they will cut you off as a lead supplier and/or just not pay you for any of those leads. Luckily, boberdoo has been building lead distribution systems since 2001 and has mastered this entire process. With the help of boberdoo, you can start selling payday leads and take advantage of the profits they bring without having to worry about the technical aspects.
At boberdoo, we build lead distribution software for lead generation companies. We also provide several lead industry services such as leadQC, Ping Post and our Premium Dashboards. We DO NOT SELL payday leads. If you are looking to purchase leads, please submit an inquiry and tell us who your current suppliers are and we can make introductions to boberdoo clients in your vertical.