Since the start of the Prosper Referral Program, in the beginning on June, I have been trying to generate referrals. You are paid 50 basis points for a borrower and $25 for a lender (the lender also recieves $25).
I have tested a number of strategies and have a number of other ideas… I am interested in my readers opinions and their thoughts.
Ideas that have worked (although most of my readers are already members):
Ideas that have worked but have an unknown cost effectiveness and I have a limited knowledge of the tricks of the trade:
- Goggle Adwords
Ideas that have worked but have a limited scope:
- Emails to friends/family
Ideas that worked a little and might yet work:
Ideas I havn’t tried yet:
- Craigslist
- Yelp
- Yahoo Answers
- Yahoo Paid Search
- Ask.com Paid Search
- MSN Paid Search
- Any Random Internet Forum
Anybody have any other ideas? Any success stories?
Related Posts -
Prosper Releases Top 10 Referrers In Vegas Contest (RateLadder in top 10) Prosper's new referral program is great. Not only do you earn $$$ for referring people, but if could also win a trip for 2 to Vegas. I have 4 borrowers (3 with listings) and 2 lenders (both with bids) and 10 others without a role yet. I am in the top...... -
Track Prosper Referrals with ProProsper Followup Just a quick followup to the Prosper referral tracking with ProProsper. Here is the email sent to me this morning detailing my active listings... Referral bepmike48   Listing: Guarenteed Money for Simple loan Amt=5000.0000(25.00) CG=A DTI=0.09 Open For Duration Lender Rate=0.0625 Referral bigdog1   Listing: deck and bills...... -
Propser.com At 30 Million Lent (or darn close) YTD (since February) Just how much does Prosper.com make? Since opening doors for business in February, they have facilitated the lending of very close to 30 million dollars. (For this evaluation let's call it 30 million exactly and ignore late fees.) I grabbed a graph from Eric's Credit Community to illustrate the progress of the year....... - Prosper in Japan and Other Asian Countries Prosper and SBI Holdings to Establish Prosper in Japan and Other Asian Countries San Francisco â August 6, 2007 â Prosper (www.prosper.com), Americaâs first people-to-people lending marketplace, and SBI Holdings, Inc., a holding company for SBI Group, the financial innovation leader of Japan, today announced an agreement to form a......
- Rateladder Referral Listing: Debt Consolidation Update: This listing has been withdrawn and relisted as an autofund at 24.25% and is still missing a picture... I think the 1st listing was better, but this one is still worth a bid. Active Listing: Debt Consolidation Original Listing: Debt Consolidation I have bid (only bid if you want......
Related Websites - Join A Web Hosting Affiliate Program To Make Money Online Website owners, have you considered joining a web hosting affiliate program to bring in a new profit stream to your website? If you currently host a website, joining a web hosting affiliate program can make you significant money when used intelligently, plus you can easily recoup the costs of bandwidth......
- BEST ONLINE AFFILIATE JOB - Working From Home - MAKING MONEY ONLINE $500 A Day mkteamwithtravisalexander.com BEST ONLINE AFFILIATE JOB - Working From Home - MAKING MONEY ONLINE $500 A Day How To Make Money Online With youtube Make Money Online Make Fast Sales With Ebay "Make Money Online with Online MLM Free Skype Traffic $1 Martix Earn $1000'S PROVEN!!Make Money Online My Search......
- Update On Prosper I had a previous post about Prosper.com where I was planning on borrowing some money for investing. However I decided against it and now I'm thinking I'll lend some money out instead. If I lend money out at 10% and 10% of the borrowers default, I should still break even.......
-
Increase Traffic to Blog, pt1 This is part one in a three part series dedicated to increasing traffic to your blog in a number of different ways. Now that you have your blog set up and you are beginning to post useful information in its pages, the next step is to start attracting useful readers...... - The Worst SEO Mistakes You Can Make Everyone wants their websites to be search engine optimized, or SEO-friendly. However, there are some common errors that people make when they're doing SEO work on their site, and these errors can actually cost them that highly coveted top ten ranking that everyone wants. Here are some things to avoid......
- Midge Same-Size Friends Friends Family Barbie Contemporary 1973-Now Dolls Dolls Bears
- Friends Family Barbie Vintage Pre-1973 Dolls Dolls Bears
- Tutti, Todd Chris Friends Family Barbie Vintage Pre-1973 Dolls Dolls Bears
- Tommy Same-Size Friends Friends Family Barbie Contemporary 1973-Now Dolls Dolls Bears
- Ken Same-Size Friends Friends Family Barbie Contemporary 1973-Now Dolls Dolls Bears
Categories:
Prosper.com, Referral
Tags:
3 comments ↓
My brother and I created a Prosper blog. While the primary purpose is not referrals and most people are already Prosper members we did include some referral links and had one person sign up so far as a referral. I also got one referral who is a family member in addition to my wife who signed up and loaned out $50. I think in general it is difficult to obtain referrals because it is a difficult process. First, they must sign up, get their identity verified, get their bank account verified, transfer money (which could take up to a week), bid on a loan, win the bid for the loan, have the loan complete the verification process so that it is fully funded. All of this has to be completed within 90 days, and I think there is a lot of attrition at each step in the process. Not trying to discourage anyone, but just trying to be realistic about the process.
I thought about using Google Adwords. I have some experience and have managed thousands of dollars worth of Google Adword campaigns. Ultimately I decided that it not likely to be worth the money spent. Let’s assume that you spend the very minimum for each click – 5 cents. To break even, 1 out of every five hundred that click on your ad have to sign up and complete the process as Matt described above. I think that you are unlikely to get conversion rates that high. In addition, it’s going to be difficult to keep costs to 5 cents an ad in the competative loan ad market. I know that nonattender is running some googleads though and after the first week he was a referral leader – #2 I think. It would be interesting to see what his results have been and how much he has spent in the process.
Have you considered buying lists. There are a numerous companies out there who produce lists for every type of business, consumer lists etc. You have to work out what type of individual or business do I need to target then contact one of these companies to see if they do a list for the area you are looking for. That way yes you have to pay but you are getting targeted people to contact. Hope this helps. Google adwords can be expensive if you don’t convert click through’s to sales.
Leave a Comment