A Guide to Email Marketing For the Payday Lending Industry

Quickcheck Canada
August 26, 2016

Since Google has banned payday loan companies from advertising using the pay-per-click method, businesses in the lending industry have had to come up with new ways to spread the word about their companies. Some people rely on using search engine optimization techniques to get their businesses listed at the top of Google search ranks, but this can be expensive. Also, just because Google banned pay-per-click advertisements it doesn't mean that people can't still search specifically for payday loan companies.

Instead of relying on this method of advertising, many payday loan businesses are making use of email marketing techniques to get the clientele they need. There are many ways to get new customers via email, and it's also a great way to connect with previous customers and encourage them to return to your business the next time they need a loan.

Using Email Marketing Appropriately

Everybody knows just how annoying it can be to get spam mail, especially on a daily basis. However, this doesn't need to be the case for those who are looking to advertise their payday loan company. In order to send someone regular emails about a business, the intended receiver will need to sign up for this service and provide permission for a payday lender to do so. Obtaining permission can be a hassle in its own right, but it can be done. Content marketing, including blog posts, social media and downloadables like eBooks, whitepapers and check lists, can be highly effective.

Once permission is obtained, a lender needs to figure out what type of information they are going to provide in their emails and how often they are going to send them. With something like payday loans, it would probably be best to only send a message once or twice per week. People are likely going to see the email from the lender, and they will know it's in their inbox if they happen to need some extra cash right away. Sending someone daily messages could annoy them and cause them to block any future emails from coming through. It's also best to consider what type of information would be the most informative to a reader – rather than just sending advertising, if you create messaging that is topical and interesting to customers your email is much more likely to be opened and read.

If a payday lender wants to use email marketing to their advantage, they can make use of an automated service that will send out messages for them on a regular basis, or after a customer completes a certain action either in store or online. This way, they won't have to worry about anything except coming up with the content and scheduling it to be sent out. There are plenty of new leads that come from sending out emails, which is why many payday lenders choose to use this method of advertising most commonly. It's both effective and affordable.

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