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How Lenders Can Convert Loan Applicants with Great Content

Your website may be the first impression or interaction that a potential borrower has with your company. The content can make or break this vital, first interaction! It’s absolutely necessary to have content that not only reads well but meets the needs of the potential borrower. Here are a few tips to implement to ensure your content is working for you, not against you:

1. Your content is a resource for the borrower.

Your potential borrower has a problem and is searching for a solution. Your company’s website needs to be a resource for the borrower, as this builds trust and forms a borrower-lender relationship. To be a resource for the borrower, start by making sure your website answers his questions. A great way to make sure you’re answering your borrower’s questions is by having a “Frequently Asked Questions” page on your website or write blogs regularly.

Get together with your team and brainstorm what questions you get asked weekly, if not daily. Those questions should be answered on your website – either on a FAQ page or on your blog page – as only a portion of people will reach out to customer support for answers.

2. Your content is conversational.

Ditch the industry jargon and technical terms (as much as possible) and write conversationally yet professionally. A potential borrower should be able to read your content and feel like he’s having an in-person conversation with you. If your content is stuffy, difficult to read, or has too much industry jargon, your borrower will look elsewhere for answers.

3. Your loan application is clear and concise.

When a potential borrower abandons a loan application, the lender has missed a financial opportunity. It’s vital that lenders minimize these missed opportunities by creating borrower-friendly loan applications. Consider these five reasons why potential borrowers abandon loan applications:

  • It requests too much personal information.
  • It takes too much time.
  • The language was confusing.
  • The loan application was not mobile-friendly or responsive.
  • There was an in-person requirement for certain information.

Do any of the reasons listed above reflect your loan application? Do your best to eliminate these factors, as they will send your potential borrower running to your competition.

Lenders, we have the loan origination and management software you need to maximize efficiency and profit! Learn more about absVision, then give us a call: 800-727-7534