I received an email from their Senior Marketing Manager today to announce the news – See the Email Below. As a strong believer in affiliate programs, when times are bad, and I see companies dumping their affiliate programs, that’s a bad move, really bad move. How will a company get any more sales if they are cutting off their source for getting leads.
I guess E-Loan.com should have bought Loans.com back in the day, this could have compensated for all the affiliate payouts that they have made over the last few years.
Copy of Email:
Dear Affiliate Partner,
In order to stay ahead of the current mortgage cycle and enable E-LOAN to maintain its leadership position in the industry, E-LOAN will begin scaling back some operations/programs to reduce its cost structure and unfortunately removing our affiliate program is one of them.
E-LOAN was founded with a clear vision to transform the loan industry by creating a fast, easy, affordable and transparent experience for consumers. Throughout the nine years since our inception, we have continually delivered on that vision and our promise to the borrower. In fact, E-LOAN was just named the top mortgage website by Keynote WebExcellence for the third year running. The resizing of E-LOAN’s work force and reduction in cost structure will not change our vision, and is being undertaken to make us even more effective at delivering on that promise. We are more committed now than ever before. We believe that today’s market climate has proven us right: an open and honest experience that serves the needs and best interests of the consumer is the business model that will win in the long run.
This situation is unfortunate, but E-LOAN will retain all of its pieces of business, and is on track to expand its product offerings over the next year. On December 7, 2007 Commission Junction will set your account with E-LOAN to expire on December 14, 2007. Your account will just expire - you are not required to do anything.
We at E-LOAN, Inc., have enjoyed the opportunity to work with you in this capacity and wish you the very best in future endeavors. If you have any questions regarding this matter, please do not hesitate to contact me.
Sincerely,
A’Lisa Tomatis
Sr. Marketing Manager
E-Loan, Inc.
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