Social media is a great place where you can get numerous sources of information, particularly relevant data about loans. In the past years, the number of active lenders in social media has doubled. This is a good sign for borrowers because they’d have the opportunity to get their money easily. What if you don’t need a loan as of the moment? Well, lenders can still entice you because of their effective strategies.
These are the ways lenders attract borrowers on social media:
Viral Marketing
Do you want to know the most effective marketing mediums of lenders? The answer: viral marketing. Many people believe that the age of viral videos is over. This is not the case. Borrowers are often stimulated by videos, especially if the characters involved convey strong emotions. If the video points out to family, then you’d believe that the lender is family-oriented and can be trusted. This way, the seed of marketing has been planted. Don’t worry too much if you feel swayed by the lender’s viral videos. Remember, you’re still in control if you’re going to apply for the loan or not.
Witty Graphics with CTAs
Have you ever seen the witty images posted by banks and lending companies in their pages? If the graphics have made you smile at least once, then the advertising has worked. Graphics posted by lenders are usually accompanied by CTA (call to action) points. A properly placed CTA will lead to conversion and future brand retention. This is the reason why many companies are employing the services of skilled graphics designers. A single captivating image has the potential to generate conversions better than a whole bunch of generic images. Don’t avoid these images if you see them in your newsfeed. Rather, understand how these images affect you emotionally and psychologically.
Exciting and Meaty Content
The days of short and crude content are long gone now. People want interesting and ‘meaty’ content that bears solution to their problems. Lenders use different kinds of content, such as those featuring tips regarding finance. They also share the right steps on applying for loans, and other parameters that borrowers should know about. If you don’t need any loan as of the moment, the lender can still leave its impression through the informational value of the content. This is the ‘hook,’ and there’s a big chance that you’ll remember the lender if ever you need a loan.
There’s nothing wrong with advertising, especially if it’s meant to reach the right groups of people within a specified time. It draws the line when the advertisers don’t deliver the promises they’ve made. Many lenders are guilty with this, so you need to be selective in picking the right option. Check out the unbiased reviews, learn the terms, and determine the interest and fees that you can  take.
Categories: Credit

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