Website traffic

Currently, the P2P lending leader is Lending Club and it’s not very close. Website traffic is just dominated by Lending club with 2.8 million visits per month which exceed the next 4 websites combined (SoFi, Prosper, Upstart, and Funding Circle).

With website traffic comes business obviously, as Lending Club has $29B in total loans since inception. Brand awareness is huge and has allowed Lending Club to primarily drive engagement directly (68%) while limiting efforts in paid search, social media, etc. The demand for student loans can be seen in the non-branded keyword search driving traffic. Some of the highest keywords driving traffic include student loan consolidation, refinance student loans, student loan refinances, and student loan calculator.

The amount of people who are continuing to search for these services is incredibly high compared to the number of loans being issues. Let’s break down Lending Club. They have 2.8M views per month and during the study, they issued $6B. That is roughly $180 dollars per visitor. When the average loans size is expected to be in the thousands the conversion rate is quite low. Meaning demand is there but the supply is not delivering. Alchemy is looking to improve the supply to meet the demand.

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