5 Digital Advertising Tips for Loan Marketing

loan marketingWith borrowers leaving banks and flooding the internet to search for loans online, are you ready to ramp up the digital marketing for your loan services?

Digital advertising can help your business expand its reach past your immediate network.

To help you grow your business and get the most mileage out of your online strategy, here are 5 digital advertising tips that will launch your loan marketing efforts!

1. Loan Marketing: Know Your Audience

Digital advertising allows you to target your audience with almost laser precision.

Want to know the problem? The biggest challenge brands face with their initial digital advertising is properly identifying their intended audiences.

To overcome this challenge, work with your team to create customer avatars. A customer persona will give you insight into who your customers are and where you can find them online.

Prepare various sets of audiences that will represent potential customers on different points of the acquisition spectrum.

For example, people that have never heard of your business will be considered cold audiences, whereas those that have done business with you before are qualified warm leads for loan marketing.

2. Facebook Advertising is the King of Paid Social

Regardless of the number of followers or page likes you have on social media, Facebook Ads can help your loan marketing by expanding your customer base.

The targeting options in the Facebook Ads platform are immense.

After building your customer avatars, you can then target your content and ads to them based on their demographics, location, interests, and behaviors.

3. Adwords Helps the People That are Searching for You

Google Adwords and other search engine advertising platforms can work hand-in-hand with your Facebook ads.

Search engine advertising allows you to display ads to people searching for specific keywords. You’re then charged per click.

Use a keyword planner to what your target audience is searching for on Google and craft your blog posts or offer based ads around that.

Do proper research and follow best practices to create great ads that Google will optimize for the best results.

4. Carefully Craft an Offer

No matter what ad platform you decide upon for your loan marketing, you need to have a great offer up front.

Advertising without any enticing offer is like walking into a bar and asking the first person you see to marry you. Those kinds of sales tactics just don’t work, especially on Facebook.

For example, if your main product is bad credit business loans, you could create an ad offering a free credit check or pre-qualification consultation.

Again, just like when you were creating customer avatars, you should create multiple offers that appeal to many subsets of your target audience.

You can run digital ads to informational blog posts, special deals, giveaways, and more.

5. Let Your Website Work For You

The beauty of digital advertising is its ability to track ROI.

Before running any digital ads, make sure to setup the appropriate conversion pixels on your website to track traffic.

Doing so will allow you to analyze how people got to your loan servicing website or blog.

You can also setup powerful retargeting ad campaigns to target people who clicked your ads but didn’t convert to a sale the first time around.

Retargeting (also called remarketing) campaigns can lead to cheaper online conversions over time.

Start Advertising Online!

With these digital advertising tips in mind, you’re well on your way to growing your loan services business online!

Want to learn a bit about how digital advertising can impact SEO? Visit our SEO blog!