The competition factor is enormously high in the financing industry in general and the consumer loan landscape in particular. Generating viable loan leads can prove to be tricky at best. Nonetheless, it is still crucial for financing lending institutions to generate leads, lest they are okay with not having clients – spoiler, they’re not.. To prevent this, loan providers need to find efficient methods where they can produce top quality leads. Paid ads, otherwise called PPC or Pay-Per-Click, as well as SEO (Search Engine Optimization) are a couple of the approaches that can work if done properly. Yet the million dollar question is, which of the two techniques is a lot more efficient? Or are they both equally viable?
This article has actually taken an extensive look at both methods to assist finance lenders in choosing which technique to make use of.
PPC is an advertising and marketing method usually associated with paid search engine marketing platforms such as Adwords or Bing Ads. Its a method where you’re spending for each and every ad click that sends a visitor to your website. Nowadays, the vast majority of social media platforms have also instituted some form of PPC advertising and marketing models.
Benefits of Pay-Per-Click
- It is quick: When up against Search Engine Optimization, which can take months to bear fruit, Pay Per Click is much quicker. As soon as you create an account and launch a campaign with an advertising platform like Google Adwords, your lead generation project begins immediately.
- PPC works for granular targeting: PPC permits you to sift through data for better outcomes, and you can also decide on what types of clicks you’ll be generating with audience targeting options. As a lender, you need to have a preferred audience that you provide financing to, which is why it is very important to work with an advertising and marketing approach that enables you to filter and test various demographics.
- It enables quick screening: As currently mentioned, PPC is fairly rapid, which makes it possible to run an A/B test on two or more campaigns or ad sets. You can figure out which campaign has the better lead gen results and which will not work.
Organic SEO Advantages
SEO, or Search Engine Optimization, encompasses as series of specific steps taken to enhance how a site ranks on online search engines like Google. Unlike Pay-Per-Click, you’re not paying Google directly for better SEO ranking results. You have to improve or optimize several elements on your web site for you to rank much better. Consequently, for your financing business to produce quality leads, you need to understand what search engines make use of to rate comparable websites and fulfill those requirements.
Benefits of SEO
- It has lasting results: If you manage to place well on search engine results pages, you will certainly have the ability to bring in top quality web traffic to your site for a very long time. You can even pause your PPC advertising, but rest assured that you will continue getting targeted traffic and leads via SEO. This is not what happens with PPC considering that when you turn off your paid campaign, you stop receiving the web traffic you were obtaining.
- SEO is less costly: As a lending institution, you can learn how to do your SEO in-house and get the web traffic you need. Although it might require time to get to where you want to be, you will certainly not incur the costs associated with PPC. SEO is traditionally much cheaper than PPC advertising in the long run and usually provides better quality leads.
PPC vs SEO, Is There A Clear Winner?
Both methods can provide successful outcomes. It all boils down to just how fast do you need to see the results and also what your long-term strategies are as a business.