Payday Loan Industry Milestone Reached: PDL Marketing Delivers its 15-millionth Lead

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Now generating four-million full loan applications annually for its payday loan clients, Internet marketing firm PDL Marketing LLC pushes its lead-total over the 15-million mark. For PDLM clients, it adds up to one billion dollars in revenue, according to just-released industry-wide study.

Internet marketing giant, PDL Marketing, LLC (PDLM) announced today it had capped an industry milestone by delivering the 15-millionth online application to its customers in the payday loan industry. The achievement was marked by a celebration at the company’s Palm Beach Gardens, Florida offices.

Company founder Thomas Becks put it in perspective, “I’m proud of the hard work my staff has put in over the years to make us the number-one lead generation firm in the industry. But in the end, we’re happy to be the behind-the-scenes marketing resource for the industry. The real winners are our clients, who have raked in the profits over the years by relying on the Internet leads we provide them.”

When he does the math for perspective clients, Becks tells a pretty impressive tale. PDLM outdistances competitors by offering an industry-lowest cost of $18 per fully completed loan application.

And based on studies cosponsored by his clientele, Becks can document steady profits for clients. Based on industry averages, one out of every three fully loaded applications converts into a payday loan borrower, putting the total cost for PDLM’s customers at $54 per loan sold. With each payday loan in the country netting $74 in fees on average, including roll-overs, customers are netting a profit on the first loan sold.

But it doesn’t stop there. According to the Consumer Credit Union the average payday loan customer keeps on returning, for an average of eleven loans per year. Becks adds it up, “With a $54 investment my client makes to bring in one new borrower is yielding him an eight-hundred and fourteen dollar return, on average, per year. That’s better than a one-thousand present return for my clients.”    

And with nearly four million leads delivered in the last year, that adds up to one billion dollars in gross fees for PDLM’s clients.

“CIO, Richard Hansen explains the company’s success in attracting customers for their lead generation services, “ we have been able to slash their marketing cost by over 90% through our proprietary online methods, and at the same time we’ve dramatically increased their coffers. We have taken several clients from $100,000 a month in new loans to over $2 million in just six months.”

PDLM offers a number of service agreements, with most clients opting to receive a guaranteed number of filterable payday loan leads each week for a set fee of $18 per lead. PDL Marketing also offers free client setup to companies that qualify and provide the highest quality at the best price.

PDLM is nationwide, with servers in three states, and ownership of three of the top ten Internet lead-generation sites in the country. Through its proprietary search and directory-listing techniques PDLM is better-positioned to comb the Internet for fresh payday loan leads each and every week.

And, as new search standards are introduced into the market, PDL programmers constantly adjust the firm’s lead optimization modeling techniques. The results speak for themselves. The firm has managed to keep their lead generation trends moving upward, despite the increasingly complex Internet marketing landscape.

Building off the success of its Internet-based lead program, PDLM has recently announced the decision to add to its portfolio of services designed for the payday loan industry.

The company’s newest offering, PDLTrax™, is an Internet-based solution for both storefront merchants and call centers to quickly migrate applicants to loan clients, easily and accurately through an automated underwriting process. Existing in-store personnel can use PDLTrax™ to manage loan uptake and processing fully online, with minimal training. PDLTrax™ seamless integrates all the industry specific software required to quantify the decision to fund the applicant, process applications, run Teletrack© reports and provide payday loan managers with on-demand, real-time reporting across the entire spectrum of loan activity. Many of PDLM’s current lead clients are previewing a beta version of the new PDLTrax™ product, which is due out in the Fall of 2005.

Serving the Payday loan industry since 1997, PDLM has offices in Cleveland, Wilmington and Palm Beach Gardens to manage the company’s existing payday loan lead and financial management software businesses.

At one time the payday loan business was derided because the fees on a percentage basis appear to be extremely high. But because the loan amounts are so low, the actual dollar cost to the borrower is actually quite low, often less than what banks charge for a bounced check. Borrowers aren’t complaining. Just before Christmas last year, more than 10 million people took out a payday loan. Consumers praise the ease of qualifying and the speed of acquiring cash they cannot get from “traditional” lenders.

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