How to Convert Web Traffic Into More Loans
Several factors can contribute to increased web traffic. Engagement from ad campaigns and other lead sources is beneficial. But, of course, conversion (and then retention) is the end goal.
To strategize how to sell more loans, you might compare web traffic conversions to an in-person retail experience: some customers know beforehand what they’re looking for; others see advertisements and want to look around. Some customers talk to salespeople, learn about a current deal, and are convinced with a demonstration. Any number of scenarios can influence customers to convert.
In the online member journey, this same understanding of prospective members will help you meet their needs and sell your services. Consider the following strategies to focus on members and convert web traffic into more loans for your finserv brand:
Add web chat to your website
Just like an in-person shopping experience, it can be helpful to have an expert show you around, inform you of special deals, and help you find what you’re looking for. Consider automating bots to answer FAQs, serve as a website directory, or connect members with a local representative. Chat options can help prospects build trust with your finserv brand and build on positive interactions that demonstrate your thoughtful member service.
Rethink your website design
94% of first impressions are design-related. 75% of customers report judging a company’s credibility based on website design. If your website has a high bounce rate from incoming leads, it’s time to evaluate your visual strategy and layout—and not just the desktop version.
Half of all web traffic worldwide is on mobile devices. On desktop and mobile experiences it’s important to make it clear that the process of applying for and receiving loans is attainable with your financial brand. Close as many informational gaps as possible with simple design tactics and clear calls to action. A great user interface that’s navigable, quick, and without clutter can boost your website’s conversion rate by up to 400%.
Embed positive reviews and client testimonials on your website
Bumps in the road to conversion can also revolve around perceived risk or lack of information. To decrease the uncertainty factor around loans, consider adding positive testimonials and reviews from past members or clients. This feature can help keep prospects on your page (rather than competitors) and resolve concerns they may have about the process.
The majority of consumers look for financial service recommendations online anyway—84% trust online reviews as much as personal recommendations. Especially with something as important as a loan, social proof can go a long way to remove obstacles from conversion.
Optimize your Google Business Profile
90% of loan and mortgage consumers run a Google search before converting. Optimizing your listing on Google Business Profile will direct more qualified leads to your contact information and website.
Begin by searching for your financial brand on Google, claiming or adding your listing, updating information (phone call, hours, services, address, etc.), and consider adding a textable line through Apple Business Chat or Google Messages. The earlier in the research process your financial brand can appear to prospects, the better. Elevate the likelihood of conversion with an increased search ranking through Google.
Nurture leads with custom content
Concerning top-of-the-funnel traffic, Forbes advises “warming up leads and building trust” over several steps. “Continuously delivering value,” Forbes reports, “will turn a higher percentage into customers.” On your website, this can take form in opportunities for risk-free consultations, blog posts, eBooks, email lists, video content, and relevant webinars.
All this, to build relationships with prospective members and demonstrate why you’re worth doing business with. These types of interactions build trust and cultivate the opportunity for a sales pitch at a comfortable point in the member journey.
Ready to help more members? Download The Definitive Guide to Converting Leads today.
