A Guide for Lending Professionals
If you’re a lending professional aiming to optimize loan growth through existing opt-in contacts, this guide is tailored for you. Let’s explore how strategic text marketing to your subscriber base can reshape your lending landscape.
1. The Foundation: Consent and Compliance
Before embarking on your text marketing journey, let’s lay the groundwork. Consent is the cornerstone. Prioritize reaching out only to individuals who have explicitly opted in to receive your messages. This not only aligns with legal requirements and protects you from fees, but also demonstrates your commitment to ethical engagement.
“Welcome to Company ABC Mobile Alerts! You’ll now get acct msgs from us. Questions? Call 800-123-5678. Msg&Data rates may apply. To opt out reply STOP”
2. Personalization: The Path to Connection
Personalization is the key to capturing your consumers’ attention. Address subscribers by their names, acknowledge their past interactions with your brand, and present loan options that resonate with their financial goals. This tailored approach enhances engagement and bridges the gap between sender and receiver.
“Name, special offer – settle your account for less than you owe. Call 888-296-1002! Collection Terms: bit.ly/2YjlkTt. For info reply HELP. To opt out reply STOP”
3. Strategic Relevance: Deliver What They Want to Know
Text marketing’s value lies in its timeliness. Consider its applicability across crucial scenarios:
- Reengaging Abandoned Applications: Engage potential borrowers who started a loan application but didn’t follow through. Extend a helpful hand to guide them back, emphasizing the benefits of completing the process.
- Subscriber to Customer Conversion: Within your existing database, there’s a goldmine of leads who initiated intent. Reach out with helpful information on unlocking the advantages of your loan offerings, or updates on rates, and benefits.
- Empowering Upsells and Cross-Sells: For customers who’ve accepted offers, text marketing becomes a strategic tool for offering supplementary and targeted loan options. Determine which borrowers are the best fit for your new loan products, then present these alternatives as opportunities to enhance their loan experiences.
“Make no payments on new loans until Feb 2024. Apply now! https://brandedurl/apply to start an application. For info reply HELP. To opt out reply STOP”
4. Short Code Utilization: Creating Brand Trust
Creating a dedicated short code for your business is a proven way to foster brand awareness and most importantly, trust. A short code is a shortened phone number that is vetted and verified. This verification is crucial to consumers that are weary of an industry plagued by spam and phishing. Because a short code is unique to your business, consumers can rest easy knowing you are who you say you are. Trust in your brand is paramount in consumers’ willingness to engage with you.
Building Bridges with Text Marketing
Text marketing is your bridge to an engaged audience and enhanced loan growth. Through strategic consent-driven outreach, personalized interactions, and timely engagement, you can foster meaningful connections that drive conversions.
In a world of smartphones and digital saturation, text messages stand out as a beacon of effective communication. So, embrace text marketing and witness its impact to your bottom line. Your journey to optimized loan acquisition starts here.