4 Social media marketing tips for loan lending business

The modern world uses a different way to get social. It doesn’t involve in face-to-face meetings due to the constraint of time in busy life. Social media has become the platform of interaction. People cry, laugh, console, smile, show anger and do everything on it in the name of expression.  

Due to their intense connection with the social media, the businesses and services have also come on this common junction. Here they can meet their existing and prospective client and can know their personal choices. This helps them tailor their products and services and get more business.  

No need to mention, the loan lending businesses are not a bit less aggressive in their approach on social media. The pop-up advertisements of personal loan, home loan, business loan, student loan etc. with happy images touch the human emotions perfectly.

With time, some social media strategies have come into practice for the lending businesses. Few that are mentioned below are popular enough to get into notice.

  • Know the social media platform that suits the lending business

This may sound very basic but you cannot start without this. Obviously, you should know which social media platform is most successful and practical for the lending companies. For instance – when it comes to loans, Instagram is not a promising platform. Facebook and twitter provide more possibilities. You need to master the social media. Get familiar with every tool it has and learn to use it to maximum.  

  • Go for a reputation audit

Just in case you don’t know – reputation audit is a service that is provided by the public relations firms. The audit helps the client know its customers and their views about the client in a better way. Also, it helps to know how to deal with the negative comments. If you get it done for your loan business, you can know what people think about your financial products.

Example : - SocialMention is a reputation management tool that picks up the data according to the social media searches. It gives stats about your lending business through the scores on sentiment, strength and reach.

You can use it on your own without any support from any PR firm.
  • Enter your brand name – for instance if it is AOneFinance, write the complete name with no spelling mistake.
  • Select from Microblogs, images, bookmarks, questions or videos or ALL.
  • Now press search

The result shows your mentions of the last day and also summarises the sentiments of those mentions in positive, negative and neutral. You can also get the list of your top hashtags, keywords, sources and users.   This helps you make and implement social media strategies in a better way.

  • Use videos

Look around on the social media, it is full of videos. According to a research on Facebook users, there are 65% higher chances of remembering an advertisement if it has a video or photo. However, videos are more engaging in emotional approach. In fact, not only for promotional purpose, you should use it to describe your application procedures. When it comes to loans, people are mostly afraid of formalities and treat them like rocket science. Customers prefer to pick familiar things and if you are in a good knowledge of the prospective customers, it is easy to win hearts.

  • Choose the right time to post on social media

All social media campaigns and posts should go according to the right time. For instance –3 PM to 8:00 PM is considered the most promising duration to launch an ad campaign. Normal daily posts too are good to go during this time. It leads to most clicks and improves chances of getting more visitors on your website. This helps to expand the reach of your business and enhances the chances of getting more and more customers.

However, forget not that.....

Different Social Media Platforms Have Different Responses On The Time Factor.

  • Facebook – Posts at 3 PM brings most clicks. While posting between 1 to 2 PM helps to get the most shares. This is usually the lunchtime in companies.
  • Twitter - 5 -6 PM is the suitable time as at this time people start attaining a little relief after the exhausting long day.

Conclusion is.....

Social media is not for entertainment only. It has in fact many possibilities for businesses to reach to their right type of customers. Include the above ways in your social medial strategy and earn a better status in your loan lending business. Fingers crossed.