Lenders can capitalize on benefits to the customer in marketing materials.
Marketing is an important consideration for lenders, particularly in times of economic hardship. By implementing a continuous marketing plan, you will ensure that your business is building recognition and increasing its customer base year-round. Because competition between lenders is high, effective marketing can be the difference between securing and losing both new and current customers.
Focus on Benefits
To capture the attention and interest of potential customers, ensure that your marketing materials focus directly on benefits to the customer. Research your competitors' offers, and include items that set you apart. Your materials should allow customers to see immediately why they should go with your company instead of another lender; by stating benefits up front, you gain customers' attention and encourage them to read on for more information.
Offer Added Value
To expand your reach and establish yourself as an expert on lending, mortgage and financing options, use a blog or newspaper column to disseminate advice. In each post or column, focus on a related topic that will give value to potential customers. One article might explain the reality of interest rates, while another might focus on understanding different types of loans and financing. Link to posts from your company's website and broadcast them to followers on Facebook, Twitter and other social networking sites, and be sure to link back to your site.
Work Weekends
If your business uses cold calling as a marketing strategy, shift a portion of calls to the weekend. Then, when customers are less likely to be busy with work and family stress, you will have a more willing audience. The same goes for email marketing and other marketing activities: by sending messages on a Saturday or Sunday, you are more likely to reach potential customers in a relaxed and receptive state. For maximum customer convenience, you might consider extending office hours to Saturday to help customers who cannot come in during the work week.
Referrals
Referrals are one of the most powerful marketing tools, and are also the most difficult to harness. When it comes to the often painful process of choosing a lender, a personal recommendation can be the tipping point that causes a new customer to choose your organization. To ensure that your customers recognize the value you bring, be open with them about the deals you are able to secure, interest rates you negotiate, and money they save. Instruct your staff to make every customer interaction pleasant and informative, and pay attention to your physical office space. When all elements of service work together to create a positive product, customers are more likely to give referrals.
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