If someone is looking for a loan, chances are that they are no longer going into a bank to pick up a glossy brochure; and companies are not able to rely solely on billboards or TV to make their pitches. Instead, people today demand freedom in their business and home lives and want to complete their research and transactions online. This behavior includes many researched purchases, including getting a loan. They may just research online before going to a bank branch; however, online loan marketing reaches your target audience during the decision-making process and where they spend much of their time.
Effective digital loan marketing targets the physical location of the user, or it monitors specific behavior to retarget ads across a range of sites based on the bank's selected criteria.
Social Media Advertising: Facebook, Twitter, and Instagram each have advertising platforms that banks can use for loan marketing. This puts the promotional messages in front of target markets while they browse their social feeds. Social media advertising frees up marketing teams to concentrate on ad details that target: specific ages, locations, particular interests and other demographic information.
Search Engine Optimization (SEO): Banks need targeted SEO to ensure they stand above the competition. Banks need a targeted SEO program that targets the keywords their target markets use and that keeps them on the first 1 or 2 pages of search engine results. In order to track keyword rankings and results, detailed monthly reporting should accompany any SEO program.
Media Streaming Services: Pandora and Spotify are heard by millions of users. You can leverage their local advertising programs to specifically target customers with loan marketing. Additionally, these media streaming services provide usage and engagement analytics to track the success of your campaigns.
Google Pay-Per-Click (PPC): Google estimates a mere 2 percent of shoppers actually purchase on the first visit. Google PPC allows your ad to be shown for targeted keywords users use to search for loan products you can provide them, thus keeping your bank top of mind and also generating clicks to your bank website.
LinkedIn Advertising: Looking to reach businesses and professionals with your bank’s loan marketing? LinkedIn is the answer. LinkedIn advertising provides a unique opportunity to advertise B2B banking services available through the platform's paid advertising.
Loan marketing is more cutthroat in today’s ultra-competitive markets. Using digital marketing strategies allows banks to create campaigns that are increasingly results driven and also trackable. They are looking for continuous improvement in how they can reach users where they spend time. For more information about digital marketing and proving the ROI on your bank marketing, download our eBook now.