Online marketing has become standard operating procedure.. Almost every business, large or small, has a website and uses social media for marketing. Business loan brokers, however, face a few challenges when marketing online that traditional businesses do not have to worry about. So what can commercial brokers do to stand out amongst the competition and to build trust online?
Empower Borrowers
Use the internet to provide your clients with valuable information. Not only will they appreciate the education that they are receiving, but they will also trust you more because of it. Business loan brokers can use the power of blogging and email campaigns to market online effectively. Blogs are a great way to reach a wide audience, get useful information out to the masses, and to build trusting relationships with borrowers. Blogs and emails should contain helpful hints, articles, ideas or relevant news. Business loan brokers have endless options for content and marketing in this way should be a priority for the business.
Be Transparent
In the business of loan brokering, transparency is the catalyst to a successful transaction. Provide your clients with everything they need to be well-informed and to make great decisions. When it comes to fees and procedures, fine print just doesn’t cut it. Online marketing provides a great opportunity to put it all out there. Provide your borrowers, lenders and potential clients with a breakdown of fees and policies right from the start. No surprises means happy clients and repeat business.
The Power of Branding
Branding includes everything from logos to infographics, images to social profiles. It is probably one of the most fun things you will do as you start your business. Choose graphics that are bright, simple and memorable. Make sure that you follow a pattern and put your brand on everything. Business loan brokers can use branding to create top of mind awareness for clients, but it works only through consistency and repetition.
Offer Something They Can’t Refuse
Provide your current and potential borrowers with incentives that they can’t refuse. This is the perfect way to get people interested in doing business with you. Lower interest rates for first-time borrowers, a gift with loan approvals, or a raffle are all excellent ways to bring clients to your doorstep.
Find Your Niche
Not every business loan broker offers every type of loan. Make sure to find your niche and market it everywhere you can. If your lenders prefer to provide funding in the $1M – $2M range, then your marketing should be directed exclusively towards clients in need of that funding amount. Or, if you are planning to provide equipment loans or accounts receivable loans exclusively, then you will want to market to a different group of borrowers. Your niche may change over time and your marketing should change along with it.
The internet is a powerful marketing tool, capable of reaching a huge audience with little effort. Whether you choose to do your marketing yourself, or hire an SEO company to get your campaign rolling, you will want to consider these tips and tricks. Marketing online is the perfect way for business loan brokers to get their name out to the masses. Always be honest and strive for transparency. Build trust before every transaction.