Loans in India are on the way up, and that should have lenders like you seeing dollar signs. Loan values have increased by 12.7% in May 2019 versus the same month last year. People are borrowing money (and lots of it!), so how can you grab your share of applicants?
Expert tips to get lending leads in India
It’s time to strike while the iron’s hot – here are four expert tips to help you find the best lending leads in India:
Follow the real estate agent’s playbook
What do real estate professionals and lenders have in common? The buyer!
Real estate agents work with buyers all the time, and most of these buyers need money to purchase a home, rental property, or land. If you can get in good with real estate agents, they’ll help you keep a steady supply of customers that need a loan.
Advertise on India’s most popular real estate websites like MagicBricks, 99Acres, CommonFloor, Makaan, and Housing. Use these same websites to find real estate agents and try to connect with them. Or even better, try to build relationships with real estate companies and brokerages so that all their agents get on board with your lending services.
Since you share the same customer base as real estate agents, watch how they’re marketing themselves and follow suit!
Basically, this same practice can be applied for any market within your own market. For example, people buying cars need loans, too, so make connections with local car dealers, advertise on auto websites, and promote your services at auto shows or events. Any business offering financing for large purchases that fit your lending model is fair game.
Grow your professional network
The best advertising for lenders is simply to get your name out and stay top of mind in your community. When you market yourself, you’re planting the seeds so that when someone needs a loan, they immediately know who to call.
This also means venturing outside of your typical referral base and making connections with local businesses. Don’t limit yourself just to similar markets like real estate agents. Your biggest asset as a lender is your credibility, and your reputation will grow as other professionals get to know you and your services.
Maximize your online presence
Referrals are an excellent resource for finding a lender, but many people will also take to the internet to find and compare lenders before reaching out. Your online presence is a powerful 24/7 marketing tool that will work on your behalf even when you’re out of the office.
For example, someone looking for a home loan might do an online search and find you in a listing with several other lenders. Having a professional website, strong social media presence, and good online reviews can help set you apart from other lenders and give you a better chance of earning their business, or at least the opportunity to connect with the lead and show why you’re the better choice.
As a lender, you want to put yourself in places where your clients are most likely to look for you. A solid online presence consists of many moving parts:
- Social media profiles, like a Facebook page
- High-quality website
- Google My Business page
- Paid advertising
- A blog or other channel for content marketing
- Listings on online loan marketplaces like RupeePower, LoanCircle, or BankBazaar
The biggest challenge for lenders is that the digital marketing side of the business can easily be a full-time job. If you’re not sure where to start or how to maximize your online presence, it can be worthwhile to hire a professional marketing agency that can create content and ads on your behalf, help you determine where you promote yourself and maintain your online reputation.
Don’t neglect face-to-face connections
So much of today’s business happens online that many lenders forget about personal, face-to-face interactions. It’s this personalized aspect that will set you apart greater than any other tactic, so take every opportunity you can to put a real face with your name and company.
Joining community events and groups, talking to local business owners, or even investing in road signs with your picture on them can help you create an air of familiarity when people go to connect with you.
How LeadSquared Can Help You Earn More Lending Leads
Are you ready to increase your leads and start making the money you deserve? Put LeadSquared to the test to help you manage and nurture leads and close more deals! Try us free for 15 days, no credit card required, and enjoy a better way to love your leads!
