According to recent data, U.S. consumer debt collectively rose to $17.05 trillion in 2023. This increase in debt may be attributed to mortgages, school and vehicle loans, and credit cards. As a result, personal loan advertisers have a unique opportunity to connect with consumers seeking financial solutions during this peak period of interest.
Engage High-Intent Consumers Seeking Debt Relief With Effective Messaging & Strategies
Here are five recommendations for personal loan and consumer finance advertisers to effectively reach high-intent consumers:
1. Optimize Messaging Across Marketing Channels
High-intent consumers seeking personal loans are looking for positive and hopeful messages. To connect with them, publishers should deploy optimistic messaging that promotes financial empowerment and portrays borrowers as more than just their credit scores. Emulating successful examples, advertisers can incorporate supportive and encouraging content throughout their websites, blogs, and social media pages.
2. Implement Targeted Digital Advertising Strategies
Personal loan advertisers must focus on multichannel digital advertising strategies that place their messages in front of the right consumers at the right times. In particular, consumers with a high amount of unsecured debt across credit cards, personal loans, and medical debt tend to be the audience with the highest demand for debt relief options. With the right targeting in place and by aligning their messaging with seasonal interests and diversifying media channels, publishers can optimize their reach during peak personal loan interest periods.
3. Leverage Clear And Effective Calls To Action (CTAs)
Personal loan advertising strategies should incorporate simple and direct CTAs encouraging consumers to take the next step in the research and application process. Advertisers should ensure that CTAs are easily identifiable across mobile and desktop experiences, improving conversion rates and user satisfaction. A strong and effective CTA can help streamline the borrowing process.
4. Provide A Frictionless Inquiry Process
To convert high-intent consumers, advertisers should offer a frictionless path for submitting personal loan inquiries online. By simplifying lead forms and minimizing the number of questions, personal loan brands can increase early conversion rates and foster trust and comfort with potential borrowers.
5. Explore Partnerships For Alternative Offer Selling
Collaborating with brands in related industries can help scale customer acquisition efforts and generate high-intent leads. By identifying opportunities where personal loans can complement other financial products, advertisers can expand their lead volume and customer base. With a partner like Digital Media Solutions (DMS), consumer finance and personal loan brands can launch inbound call campaigns that offer precise targeting, reaching high-intent consumers who are ready to convert.
At DMS, our operationalized compliance delivers peace of mind. DMS employs a diversified, multichannel digital media strategy, dominated by internal, owned-and-operated traffic. Because we understand the highly regulated environment of the consumer finance industry and the importance of how brands are represented, we invested heavily in proprietary and third-party monitoring tools. Our industry-leading processes are supported by in-house legal and compliance teams.
With the financial changes many Americans have experienced in recent years, consumers seeking solutions to debt-related issues are eager for timely assistance. During peak interest seasons, personal loan advertisers must prioritize digital advertising strategies that connect with the right audience at the moment they are ready to take action.
Looking For New Ways To Maximize Your Customer Acquisition Efforts?
Digital Media Solutions is ready to help you find new digital performance advertising solutions to scale success. DMS creates people-based advertising campaigns, leveraging our first-party data asset, proprietary technology, and expansive media reach to define and engage highly targeted audiences, attracting the consumers with the greatest likelihood to convert. Contact DMS to learn how we can connect you with consumers that need your personal finance solutions right now.
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At Digital Media Solutions (DMS), we recognize the value each publisher brings to our network and the advertisers we support. With our extensive experience in the pay-per-call industry, we offer customized pay-per-call solutions to cater to your specific needs. Our range of offerings includes consumer-generated calls, warm transfers, click-to-call from search, and SMS-generated calls.
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Brian Fitzmaurice
Brian Fitzmaurice is the Director of Business Development at Digital Media Solutions (DMS), where he has played a pivotal role since 2016. Brian’s journey in the industry began in 2008 when he joined a mortgage marketing firm specializing in consumer finance. With a focus on mortgage, debt, and credit repair, he quickly became an expert in the field. At DMS, Brian is in the Performance Leads & Calls Division, and his forward-thinking approach and industry insights position him as a recognized thought leader.