Want a free tool that TELLS YOU EVERYTHING about what your customer is looking for in a loan?
When a payday loan customer needs a fast cash loan, where do they start?
Unless they live around the corner from you, they whip out their phone.
Then what? Got a clue? You THINK maybe they type in “payday loan?”
So… because you THINK they search for “payday loan,” all of your marketing spend should be devoted to “payday loan?” Your signage, your direct mail, your coupons, your sign spinners, your billboards, your car graphic wrap…
A FREE tool to enable your Team to FOCUS on the mindset of loan customers?
I’ve written about this tool before BUT it’s obvious from the questions I GET EVERY DAY FROM MY CONSULTING CLIENTS that this simple, free tool is still overlooked!
Let me extol the virtues of the Google Trend Tool again.
First, consider this. I’ve been in Europe the past MANY months.
I picked up my mail; FINALLY!
Swear to god, there was over 12 pounds of B.S. loan offers from the likes of Prosper, Lending Club, Capital One, my neighborhood tribe lender, Bank of America, Discover, American Express…
I was “PREAPPROVED for over $250,000,000! Here’s just a sample:
This Google Trends Chart reveals that during the past year, in the United States, the search loan term “PERSONAL LOAN” was the PREFERRED search term by small dollar loan customers. It wasn’t even close!
- Payday loan?
- Installment loan?
- Title loan?
- Signature loan?
- Personal loan?
“Personal loan” WINS HUGELY (Well used President Trump favorite word.)
Now, you should know that as an owner of a payday loan store, a car title loan location, any kind of non-collateralized lender – including Internet based lenders – YOU can narrow this Google Trends too down to your state or province level! This is a really cool tool. Some one on your staff should be using it to determine where and how to spend your marketing and advertising dollars. If your time as an owner/operator was freed up with this keyword search word phrase, maybe you could concentrate on securing a backup bank account, credit card and debit card processor? Check this out: Processing & bank accounts.
Again, THIS TOOL IS FREE! I love free. Don’t you?
You can easily detect that Google searches for “personal loan” FAR outweighed searches for “payday loan!”
In fact, searches for “title loan” very nearly approached searches for “payday loan.”
Searches for “installment loan” led the bottom of the pack AND yet, that is the very term all the “big boys” like Avant, Enova… highlight in their quarterly financial reports!
You can even filter down by city.
Here’s an example of the top metro/cities for “Payday Loan:”
And, you can filter the Google Trend Tool by Region:
And, by “Related Search Terms” for car title loan lending for example:
You want to know where your next marketing campaign should be focused? You want to know where and how to spend your money? You want to know who your new loan customers could be and what THEY ARE THINKING? Use this tool! Google Trends.
And while you’re at it, get a copy of one of our latest small dollar loan manuals here: PaydayLoanIndustryBlog.com/reports
What do you think about this Google Trend Tool? Can it help you? Let us know what you think in the comments below.