It's vital to have a well-defined audience and good content in the digital age, but harnessing payment data and technology can be key for lenders to increase solid leads.
When leveraging advertising and payments technology for sales leads, transparency needs to be top of mind for marketers.
Transparency in this sense means knowing the exact sites where your ads are being displayed, the precise consumers they are reaching, the price being paid for these ads and the impact these factors have on your return on investment (ROI).
Using advertising technology ensures you are acquiring quality leads from digital publishers, instead of spending money in places your target audience may or may not be looking. It also gives you confidence in knowing that your ad is viewable on brand-safe, vertical search websites that have human traffic rather than bots.
In order to achieve this, lenders must pay attention to the value of their potential buyer, the customer lifetime value (CLV). CLV is a prediction of the profit attributed to the entire future relationship with a customer. Once you understand your CLV, you can tailor the messaging to each customer segment.
First-time buyers will need more budget-focused and beginner-stage information, while a senior-buyer will likely be interested in leveraging a lifetime of equity with a reverse mortgage.
Another aspect to look at is payment transactions, how are users able to purchase your goods or services? With the worldwide mobile payment revenue expected to surpass 1 trillion U.S. dollars in 2019, offering a mobile debit payment option is a must.
For example, marketers can allow the user to take a picture of their debit card instead of plugging in their card number, or simply utilize Apple Pay capabilities for a seamless transaction. How easy it is for a user to make the transaction while on the go will play a big role into whether the sale is completed or not.