Competition can be fierce in any business, especially if you’re running a lending business. Many people are always in need of a loan, and oftentimes they’ll go to the nearest bank for this kind of transaction. To steer them toward your company, you can either offer them features like credit card processing for lending companies, or you can ramp up your marketing efforts by following the suggestions below:
Use content marketing
A lot of lending companies suffer from not being able to maintain a relationship with their customers. Most people don’t like going back to their lenders for another transaction aside from repaying what they owe. But it will help your business if you can keep the clients you already have and find new ones as well. To do that effectively, you can turn to content marketing to help you build a relationship with your customers, both old and new.
With content marketing, you can update your existing customers about your new products without trying to sound that you’re selling them something. One of content marketing’s rules is that you should write content that will inform your customers, not sell something. It’s easier to build a relationship with your customers when you don’t sound like you’re trying to make a profit.
Revisit direct mail marketing
Another way to ramp up your marketing efforts is to try direct mail marketing. People easily get turned off when they sense that someone is trying to sell them something. This often happens when email marketing is involved. Email marketing can be effective if done properly. But it can sometimes feel impersonal to the recipient. Instead of using email marketing, try direct mail marketing, which feels more personal.
Reports have shown that customers who receive mail instead of emails appreciate it more because they feel that the people who are trying to sell them something have gone out of their way to make them feel important. The personal touch of direct mail marketing is effective in attracting customers to buy another product or complete another transaction with you. Use this to your advantage and start building a stronger relationship with your customers.
This strategy will seem like a total change in direction compared to the previous one. If in the direct marketing strategy you’re trying for the personal touch, the pay-per-click (PPC) strategy feels a little impersonal. You’re just waiting for someone to click on your ad to know more about your business. But it is an effective marketing tool because your ads will show up one every search that is related to your business. If someone types in “best mortgage rates” or “low-interest loans,” your ad will pop up in every search result. Once someone clicks on your ad, you’re halfway through to getting a new client.
It’s easy and hassle-free. You don’t have to consistently monitor it because everything is automated. Using pay-per-click will let you focus on your other marketing efforts, giving you more opportunities to reach your target customers.
Running a lending business can be tough. But with the help of some of the marketing strategies mentioned above, things will eventually become easier for you. That means that you’ll have more energy, creativity, and drive to help your business expand and be better.