The personal loan industry is booming, with more and more people taking out loans to cover expenses. LendingClub reports that personal loan originations are up 20% from 2017 to 2018. After the pandemic, loan originations are starting to pick up again as people are getting back on their jobs, and businesses are opening up like the rest of the US economy.
In other words, personal loans are becoming more popular, especially among FinTech firms. This is likely because traditional lenders are pulling back on issuing credit cards and auto loans. If you want to keep up with the demand of potential customers, you need to step up your marketing game. Here are some personal loan marketing ideas that you should consider this year.
1. Manage Your Online Reviews
When people search for personal loans, they’ll find your company and read reviews. Most people only read the reviews that are written at the top of the page. They don’t want to scroll down to the bottom of the page and read the reviews that are there.
That’s why you need to pay attention to your online reviews. If you have a handful of negative reviews at the top of the page, that’s a red flag and could cost you a lot of business.
Use a review management tool to monitor your reviews. You’ll be able to see when someone writes a negative review, and you can quickly respond to it. You can also monitor your positive reviews and thank customers for writing them.
2. Optimize Your Website for Mobile
In this day and age, there’s really no reason to create a website that’s not optimized for mobile. It’s no different than not creating a website at all. Building a mobile-friendly website is a must, especially for a personal loan provider. Over 60% of all internet traffic is now on mobile devices, so if your website doesn’t work well on mobile, you’re missing out on a lot of potential customers.
Make sure your website is responsive and that it loads quickly on mobile devices. You should also make sure that your content is easy to read on a small screen and that your forms and buttons are easy to use on a touch screen.
3. Embrace Content Marketing
Content marketing is one of the most effective ways to attract and retain customers online. By creating valuable content that solves your customers’ problems, you can attract new customers and keep them coming back for more. So if you want to get more leads and potential borrowers, invest in creating quality content for your website and social media.
4. Use Social Media
Social media is another great way to attract leads and engage with new and existing customers. By using social media platforms like Facebook, Twitter, and LinkedIn, you can connect with potential borrowers and build relationships with them. You can also use social media to share your company’s latest news and announcements and to promote your products and services.
5. Automate Your Marketing
Automation can help you save time and money while making your marketing more effective. It can help you manage your leads, automate your email marketing, and track your results. Automation can also help you stay organized and keep your marketing on track. By using automation, you can focus on your core business and leave the marketing to the experts.
The personal loan market is growing, and if you want your financial services business to be successful, you need to put these personal loan marketing ideas into action. Partner with a digital marketing expert so they can help you get started and guide you to success.
There’s no better way to supplement your marketing campaign than using video. Lavender Digital is an Atlanta-based digital marketing agency specializing in video messaging. If you want to supercharge your business and usher in exponential growth, our team is here to help. Contact us today to learn more about our services.