There are several methods (advertising, SEO, email marketing, etc.) to boost traffic to your loan web or mobile app, but paid advertisements are usually the quickest way to attract customers.
By selecting the right keywords, accurately targeting your audience, and utilizing effective remarketing strategies, even new and small loan businesses can gain visibility with potential borrowers through ads.
While Google might still be leading the pack (for now), the landscape has always included some fantastic alternatives to Google Ads in getting your products in front of eyeballs.
Before creating a Google Ads account for your loan business and getting involved in keyword research, budget setting, and ad copywriting, consider exploring other advertising options.
There are other platforms that might be easier to navigate, offer combined tools, and are more budget-friendly. There are plenty to choose from!
In this article, we’ll list some of the best alternatives to Google Ads, explain what they offer, and show you how to use them to boost your lending business. So, let’s start from the beginning.
What is Google advertising?
Google advertising refers to digital promotions appearing on various Google platforms, such as search results pages, Google Shopping, Google Maps, and other affiliated sites and tools like the Google Display Network (including YouTube, Gmail, Blogger, and numerous partner websites).
The ads on Google vary in appearance and format, depending on the location where they appear. They include:
Google handles more than 3.5 billion searches daily, making it clear that your potential customers are likely searching for the loans you offer on this platform. Besides, it’s no secret that big or small, established or new businesses are actively advertising on Google.
However, the fierce competition for clicks has driven up the cost of advertising on Google, with some clicks costing as much as $100 or more, especially in industries like ours — finance. Other reasons to consider alternatives to Google advertising include:
Google Ads can be tricky for beginners. It’s known for being challenging, and it’ll likely take time and money to figure it out. Tasks like setting up your account, doing keyword research, and managing your budget can be complicated.
Plus, Google Ads need regular attention. As a busy entrepreneur, you want something easy to set up and quick to manage. But with Google Ads, you can’t just set them up and forget about them. You need to keep an eye on them and make adjustments regularly to get the best results.
Another thing to consider is that your ads only show up on Google and its partner websites. While Google’s network is vast, your potential customers might also spend time on other platforms like Facebook or Instagram.
Whether you’re looking for a more budget-friendly option, a platform with different targeting capabilities, or simply a fresh approach, there’s an alternative for you.
Facebook ads
Facebook Advertising offers a wide range of ad types and uses a highly advanced algorithm. With over 2.8 billion users, it’s one of the most popular advertising platforms.
Lenders who target individuals who use social media often
Established or new lenders
Lenders who want to build trust and authority
Transsion ads
Transsion Holdings, the maker of Infinix, Itel, and Tecno devices, offers the Eagllwin DSP, a mobile programmatic platform that leverages its vast user base and extensive app inventory. With over 110 million monthly active users, Eagllwin provides advertisers with extensive reach, precise targeting, and comprehensive marketing services, including ad management, SMS marketing, and data analytics.
Multi-channel promotion: Promote your loan app through multiple channels in different scenarios, ensuring maximum visibility even in weak network environments.
Leveraging big data:Transsion’s extensive data collection can be used to improve and optimize your advertising strategy. By analyzing borrowers’ behaviour, preferences, and demographics, you can target your ads more precisely, making them more effective and improving your ROI.
Best use cases
Lenders who want to target a large African audience
Lenders launching a new mobile loan app
Lenders who wish to engage Users in Weak Network Areas
The platform boasts over 3 million registered users and has generated more than 7.4 million topics so far. It’s estimated that about 3% of Nigerian internet users are registered on Nairaland, in contrast to Facebook’s 11 million Nigerian users, which accounts for about 20% of the local internet population. So, there’s no doubt that digital marketers should at least consider advertising on it.
A quick guide to running ads on Nairaland: Advertising on Nairaland varies in cost depending on the section you choose, but there is a minimum deposit requirement of N20,000. Even if a section costs N5,000 per week, you’ll need to deposit N20,000 initially. From this deposit, you can run ads in the desired section for the weekly rate of N5,000. When creating your ad, you’ll need to design your banner, ensuring it meets the following specifications:
Borderless
318 pixels wide
106 pixels tall
Less than 30KB in size
PNG or JPG format
Once your banner is ready, submit it for approval. After receiving approval, you can proceed with the payment to get your ad running.
Features of Nairaland ads
Nairaland brings passionate and highly motivated communities together. As a forum-like social media platform, its users constantly voice their opinions, which makes for good feedback.
A large percentage of Nairaland’s audience is between 18 and 34 years old, which makes it a hot spot for potential borrowers.
There’s more than one market to display your goods
When considering advertising platforms for your lending business, Google Ads might come to mind first, but it’s not the only choice. While Google Ads has established itself as a leader in the industry, there are other viable options that may better suit your specific needs and preferences. Each platform offers unique advantages and features, from Facebook Ads to Nairaland Ads and beyond. Before deciding, it’s beneficial to explore all the available options to find the best solution for your business goals and requirements. After all, there’s more than one market to showcase your offerings. Contact us at growth@lendsqr.com, and we’ll gladly assist you in your decision-making process.
If you’re a non-profit or development finance institution (DFI), it should be easier to run a lending program if you're already doing the hard part of reaching people most others won’t.
So what is Lendsqr, and how does it work? What makes Lendsqr the go-to platform for lending? Explore its key features and how they can help you build a thriving loan business.
The end-to-end loan management software that’s rewriting the rules for lenders globally by offering enterprise-grade features without the enterprise-grade costs.
