Comments on: Prosper Running a $1,000 Cash Giveaway /special-offers-2/prosper-running-a-1000-cash-giveaway/ Your guide to peer to peer lending Wed, 18 Jan 2012 04:11:12 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Roy S /special-offers-2/prosper-running-a-1000-cash-giveaway/comment-page-1/#comment-3794 Roy S Tue, 17 Jan 2012 01:06:46 +0000 /&p=3900#comment-3794 @Peter, I was wondering about that "pay off your debt" phrase. This makes a lot more sense now. I'm sure they're looking for people to refer other potential borrowers, and they're trying to get referrals from borrowers who have personal experience with getting a loan from Prosper. Seems like a cheap way for them to start generating loan volume, but I'm still seeing a lot of loans go unfunded. I think Prosper needs to start targeting investors more than borrowers. Perhaps a campaign to get more people to deposit money as well as diversify their holdings would be in order. Maybe a commercial, too? They should probably reward any current or new investor that transfers in $1,000 or more and funds a minimum of 40 Notes would receive a bonus of some amount or something. Maybe have the offer presented more than a day or two before it begins (unlike their cash back offers) and have it last a month (with commercials during that month, too). They could even have steps to the offer that increase with the dollar amount and Note diversification needed to achieve each bonus. Not only will this encourage people to invest more than $100 or $250, but it will also get people to invest their $1,000 in more than just 5 or 10 Notes. This should lead people to having a greater likelihood of having positive returns and thus a positive experience. And if Prosper chooses to implement my idea, and it works out favorably for them...a bonus for me, while not required or expected, would be greatly appreciated! :-) @Peter, I was wondering about that “pay off your debt” phrase. This makes a lot more sense now. I’m sure they’re looking for people to refer other potential borrowers, and they’re trying to get referrals from borrowers who have personal experience with getting a loan from Prosper. Seems like a cheap way for them to start generating loan volume, but I’m still seeing a lot of loans go unfunded. I think Prosper needs to start targeting investors more than borrowers.

Perhaps a campaign to get more people to deposit money as well as diversify their holdings would be in order. Maybe a commercial, too? They should probably reward any current or new investor that transfers in $1,000 or more and funds a minimum of 40 Notes would receive a bonus of some amount or something. Maybe have the offer presented more than a day or two before it begins (unlike their cash back offers) and have it last a month (with commercials during that month, too). They could even have steps to the offer that increase with the dollar amount and Note diversification needed to achieve each bonus. Not only will this encourage people to invest more than $100 or $250, but it will also get people to invest their $1,000 in more than just 5 or 10 Notes. This should lead people to having a greater likelihood of having positive returns and thus a positive experience.

And if Prosper chooses to implement my idea, and it works out favorably for them…a bonus for me, while not required or expected, would be greatly appreciated! :-)

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By: Peter Renton /special-offers-2/prosper-running-a-1000-cash-giveaway/comment-page-1/#comment-3791 Peter Renton Mon, 16 Jan 2012 18:22:07 +0000 /&p=3900#comment-3791 @Roy, I have an idea of what it might be then. I recently paid off my Prosper loan. so it might be targeted at people who have had a Prosper loan and have paid it off. Because the hook is really "pay off your debt", so it is likely not targeted at investors at all. @Roy, I have an idea of what it might be then. I recently paid off my Prosper loan. so it might be targeted at people who have had a Prosper loan and have paid it off. Because the hook is really “pay off your debt”, so it is likely not targeted at investors at all.

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By: Roy S /special-offers-2/prosper-running-a-1000-cash-giveaway/comment-page-1/#comment-3790 Roy S Mon, 16 Jan 2012 16:07:20 +0000 /&p=3900#comment-3790 @Peter, Well, they're aren't targeting me. I even checked my spam folder (I don't even read all of my emails so looking into my spam folder was a big step for me), but I did not see an email sent to me regarding this promotion. The only things I did find were a few emails that should not have gone into my spam folder! But it's not like I would have read them anyway... @Peter, Well, they’re aren’t targeting me. I even checked my spam folder (I don’t even read all of my emails so looking into my spam folder was a big step for me), but I did not see an email sent to me regarding this promotion. The only things I did find were a few emails that should not have gone into my spam folder! But it’s not like I would have read them anyway…

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By: Peter Renton /special-offers-2/prosper-running-a-1000-cash-giveaway/comment-page-1/#comment-3789 Peter Renton Mon, 16 Jan 2012 11:04:47 +0000 /&p=3900#comment-3789 @Roy, That is an interesting point. I didn't actually hear about this from Prosper's marketing people - it just came in an email to my personal address. This is the address I have registered with my investor account. So, I am not sure who they are targeting exactly. Maybe Glenn can chime in and inform us. @Roy, That is an interesting point. I didn’t actually hear about this from Prosper’s marketing people – it just came in an email to my personal address. This is the address I have registered with my investor account. So, I am not sure who they are targeting exactly. Maybe Glenn can chime in and inform us.

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By: Roy S /special-offers-2/prosper-running-a-1000-cash-giveaway/comment-page-1/#comment-3787 Roy S Mon, 16 Jan 2012 02:57:58 +0000 /&p=3900#comment-3787 re: "I am not a big fan of promotions like this because you get a bunch of free loaders who never have any intention of becoming a borrower or investor." It doesn't appear that they are making a big deal of this contest. I did not hear about it until I read your blog, but it has been going on for a few days. If they run it more under the table and only publicize it on select forums like this one, it might be a more targeted form of advertising that may be successful in weeding out the free loaders. I'm not saying this is their intention, but it does make sense--market to those who are more willing to check out their site as well as potentially steal market share from LC by drawing in current LC investors. re: “I am not a big fan of promotions like this because you get a bunch of free loaders who never have any intention of becoming a borrower or investor.”

It doesn’t appear that they are making a big deal of this contest. I did not hear about it until I read your blog, but it has been going on for a few days. If they run it more under the table and only publicize it on select forums like this one, it might be a more targeted form of advertising that may be successful in weeding out the free loaders. I’m not saying this is their intention, but it does make sense–market to those who are more willing to check out their site as well as potentially steal market share from LC by drawing in current LC investors.

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By: Peter Renton /special-offers-2/prosper-running-a-1000-cash-giveaway/comment-page-1/#comment-3783 Peter Renton Sun, 15 Jan 2012 22:04:17 +0000 /&p=3900#comment-3783 @Gharkness, Thanks! I have reworded my second sentence to make it more clear. I appreciate you letting me know. @Gharkness, Thanks! I have reworded my second sentence to make it more clear. I appreciate you letting me know.

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By: gharkness /special-offers-2/prosper-running-a-1000-cash-giveaway/comment-page-1/#comment-3781 gharkness Sun, 15 Jan 2012 20:53:27 +0000 /&p=3900#comment-3781 Oops...it's the second sentence that's confusing, not the first one :-) Sorry! Oops…it’s the second sentence that’s confusing, not the first one :-)

Sorry!

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By: gharkness /special-offers-2/prosper-running-a-1000-cash-giveaway/comment-page-1/#comment-3780 gharkness Sun, 15 Jan 2012 20:52:41 +0000 /&p=3900#comment-3780 Mr. Renton! Oh my! I think you may need to edit your first paragraph. What it says is that anyone who registers their name and email address WILL get $1,000. But I think what you meant to say was that they will have a CHANCE to win $1,000. Is that not so? Granted, the actual sweepstakes becomes clear after reading a couple more sentences, but I think the first sentence is a bit confusing! Thanks :-) Mr. Renton! Oh my! I think you may need to edit your first paragraph. What it says is that anyone who registers their name and email address WILL get $1,000. But I think what you meant to say was that they will have a CHANCE to win $1,000. Is that not so?

Granted, the actual sweepstakes becomes clear after reading a couple more sentences, but I think the first sentence is a bit confusing!

Thanks :-)

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