Payday loans lenders can use other alternatives to advertise their cash advance loans even though Google announced that they are going to block them through Adwords. The payday loan industry is worth billions of dollars of annual income. Although there are a lot of scam payday loan shop, there are still many legitimate lenders that offers these short term loans for people who are in need of money urgently.
If you want people to easily notice your storefront, you should open the shop in a location that is nearby to banks. Lots of people go to bank every day so your payday loan shop will surely be noticed. There is a good percentage of people who go to the bank that have some short term financial problems so setting your storefront nearby the bank can attract many potential customers.
Payday loan lenders can distribute fliers in public places that are frequented by a lot of people such as libraries, apartments, and shopping malls. You must make sure that the payday loan application process is smooth and fast since people looking to this option needs money urgently. The simple application process for the payday loan should be emphasized on all the flier that you hand out.
You can use different types of slogans to advertise your business. There are a lot of people with poor credit score or in bankruptcy situation that often look for bank loan alternatives so you should create a slogan targeted to this group of people.
You can offer some incentives as an encouragement for people to bring in customers. For example you can offer a commission for anyone who refer a friend to take out a cash advance loan. You can make it easy for people to refer their friends by handing out referral cards to your existing customers.
A survey conducted by Pew research shows that most people don’t pay their payday loan by the next payday but roll over for at least a few more months. To encourage people to take out a loan, you can offer a discount on the interest to help your customer to afford the loan. The discount that you offer must be sufficient to get people to become interested in signing up for a loan with you.
Even though Google does not allow payday loans advertisements, this doesn’t stop you from launching a website for your payday loan service. The benefit of online payday loan service that customers can quickly get the funds that they need within 24 hours. You can optimize your payday loan site for a number of important payday loan terms in the search engine by getting backlinks. When your payday loan site is ranking on the search engine, you will get a lot of customers from the organic search result.