Marketing for Loan Brokers: 6 Online Marketing Tips To Get Started

Online marketing for loan brokers and lenders is a way to reach people and businesses that are looking for loans online. Whether that is through a search engine like Google or browsing third party websites and platforms, that is all possible with a targeted strategy.

 

There are many platforms and tools that are available to you as a loan broker. These include pay per click (PPC), social media, directory platforms and many others. And you should pick the most relevant for you based on your goals.

 

Follow these six online marketing tips if you’re looking to get started to promote your loan broker business. And if you need any help setting up campaigns, feel free to reach me below with the contact form.

 

 

1. Invest in Google Ads

 

A good marketing strategy for loan brokers is to invest in Google Ads advertising. This pay per click (PPC) advertising platform helps you to target people that are searching for loan brokers in your locations, so you can reach them with your ads.

 

 

As a loan broker there are multiple campaign types that you can launch for your business. These include Search, Display, Remarketing and others, but the best is Search because you target people who are searching for your services.

 

2. Review your landing pages

 

Part of effective marketing for loan brokers includes checking that landing pages and websites are fully optimised for visitors. This includes checking that the pages load quickly and don’t keep your visitors waiting for the content to appear, especially on mobile devices.

 

So, you should check your pages with a tool like PageSpeed Insights that’s provided by Google.

 

Also, check your Google Analytics to see how engaged your visitors are. The Acquisition and Behaviour reports in there will provide you with a lot of data and metrics. And the bounce rate metric is one of the best to monitor. It shows the percentage of people who reach your pages and leave without viewing other pages. And you should work to reduce this below 50%.

 

 

3. Conduct competitor research online

 

Doing competitor marketing research for loan brokers has many benefits including helping to set the right advertising budgets. It also helps with finding keywords to bid on for your PPC campaigns and keywords to help you rank organically in the search results.

 

A good platform that helps you with this is SE Ranking which has a suite of tools to help your marketing efforts. One of these is the Competitor research tool and it helps you see what other loan brokers are bidding on and how much they spend on average each month.

 

 

4. Target people who are searching

 

As mentioned above, setting up a Google Ads account and promoting your loan broker business through a Search campaign is the best way to reach your audience. There are other campaign types as mentioned above, but Search is the best marketing campaign type for loan brokers in Google Ads.

 

To get started with this, you’ll need to find keywords to bid on. So, some keyword research at the beginning is necessary and the Keyword Planner tool in your Google Ads account will help. You can access the tool from the Tools & Settings section in your account.

 

 

And when you’ve found your keywords you can start creating your campaign and adding your ad groups, where you’ll add your keywords and ads.

 

5. Track your enquiries or leads

 

An effective way to track your enquiries and leads is to setup goal tracking in Google Analytics. This tracks all your website traffic sources whether it’s referrals, direct visitors, PPC traffic and so on. And you can import these goals into Google Ads for conversion tracking.

 

 

In your Analytics account, visit the Admin page and go to the Goals link. Click that and you’ll see an option to setup your first goal. And follow the instructions there and use one of the templates to create it.

 

6. Hire a PPC consultant

 

To run effective Google Ads campaigns you should consider working working with a PPC consultant with a lot of experience with this platform. They’ll help you to setup a campaign to promote your services. And as a loan broker you’ll get expertise on how to achieve this for a lower cost per click.

 

But, check that they’ve worked with other loan brokers in the past and have experience setting up and managing PPC marketing campaigns.

 

Ask to see any reviews and case studies that they may have related to this. And check if they are a Google Partner or not, which gives you a good idea how much experience they have with Google Ads.

 

Case Study

 

The Funding Store is a loan broker that helps businesses of all types to access commercial loans. They operate in a competitive sector and average cost per click (CPC) rates are high. I setup new Search campaigns for them in Google Ads and despite the competitiveness we were able to achieve top spots about 50% of the time. Read the full case study.

 

Get in Touch

 

I offer digital marketing services to loan brokers and I’ll be happy to discuss your requirements. Please contact me below to discuss your marketing plans and to find out how I can help.