In this article, you are going to learn how to market a money lending business.
We have shown you how to start such a business, but truth be told, without clients, it will be hard to grow.
And the only way to get customers is through marketing.
Question is, how do you market effectively?
Here are some ideas to consider.
How To Market A Money Lending Business: Social media marketing
There is no doubt social media is a powerful marketing channel.
As we speak, Facebook boasts over 2 billion monthly users, not to mention sites like Twitter, and LinkedIn.
To leverage them, make sure you have accounts there.
Create a Facebook and Twitter account using your business name.
And then start sharing content.
Remember to keep it informal. Avoid overselling yourself. Instead, focus on building a relationship with your audience. We found asking questions one of the best ways to achieve this.
To get more impact, use ads.
With Facebook ads, you can reach over 50K people with just $10 on ads spend.
How To Market A Money Lending Business: Content Marketing
With a loan business, you need a website. There is no shortcut to this because most of your target clients are already doing research online.
This means that if your business doesn’t have a website, there is a high chance you won’t be able to reach them.
Also, you can venture into blogging.
This is the process of publishing articles related to what you are selling. For your case, the articles will be about loans.
Here are some topics you can cover;
- How to improve your credit score.
- Tips for managing debt.
- How to create a budget.
- The connection between poor financial health and personal health.
- Great ideas to save money.
- Tips on refinancing an auto loan.
Your articles will attract potential clients, thus boosting your business’ visibility.
How To Market A Money Lending Business: Mobile App
Mobile penetration is growing every day, meaning more people are using mobile devices than desktops.
As such, having a mobile application will make it easier for your clients to access your services.
How To Market A Money Lending Business: PPC Ads
Pay Per Click (PPC) ad is a type of advertising where you pay Google to show your website on search results.
If you are a loan business in the Philippines, you can pay Google, Bing, or Yahoo to show your website whenever someone searches for ‘Loans in the Philippines.’
With such an ad, your website will come on top, thus increasing the chances of the user clicking, and you acquiring that new lead.
How To Market A Money Lending Business: Collaborate with brands
Within the industry you are serving loans, there are other brands, right?
Why not join hands together and gain clients?
If you have a personal loans business targeting college students, go and work with other brands targeting the same audience.
How To Market A Money Lending Business: Affiliate program
Have other people do the hard work of getting you clients, and only pay them when they refer successful leads.
This means that you pay nothing unless the referred clients buy from you.
How To Market A Money Lending Business: Local SEO
Local SEO helps you be found locally through search engines.
If you have a lending business serving only residents of Nairobi in Kenya, by implementing local SEO, you are putting your business in front of search engine users from your local area.
Here are some of the things you can do to achieve that;
- Submit your business to Google My Business listing
- Join all local listings
- Use ccTLD domains. .co.ke for Kenya, .co.in for India, and such.
- Target local keywords. For example, loans in Kenya, loans in Canada, etc.
How To Market A Money Lending Business: Review sites
Reviews help users decide whether to do business with you.
In fact, 93% of customers read online reviews before buying a product. And nearly all consumers (97%) now use online media when researching products or services in their local area.
Incorporating reviews into your business helps clients make decisions fast.
Marketing a business is not as hard you might have thought.
Use these strategies to push your message to more people and make more money.