Between businesses starting, students entering college, people becoming homeowners, and just life overall, there will always be consumers who need help from lenders for various loan needs. With the rise of the digital age, more and more consumers are heading to the internet to find and apply for loans. To compete in the industry and find a way to drive applicants toward your loans, online lenders need to shift their focus to operational practices that will reach more loan applicants.

Enhance their user experience

One of the biggest reasons that loan applications don’t convert and people aren’t driven to applications is because of poor user experience. The fact of the matter is that people want things to be as convenient and simple as possible. If your online site doesn’t check those three boxes, it’s likely that people will bounce and head towards one of your competitors. To enhance the user experience, try doing things such as using large buttons, making clear calls to action, and above all, optimizing for mobile. According to Statista, almost 53% of all web traffic comes from mobile devices. If you want to reach a larger audience, you need to meet them where they are. A poor mobile experience is the easiest way to lose a potential consumer!

Utilize technology

While the ARM industry has always been on the cutting edge of the latest technologies, not many businesses in the industry are leveraging the technology’s capabilities and opportunities to its fullest extent. Or, conversely, they aren’t utilizing the right ones. Enter DirectDrop Voicemail

Our DirectDrop Voicemail solution bypasses the barriers of calling consumers by dropping a voicemail into their mobile voice mailbox without ever calling the phone, delivering thousands of friendly voicemails on your behalf in minutes. 

This means you can…

  • Reach more contacts in less time
  • Generate 4x the inbound calls from customers seeking a resolution
  • Enable collection agents to spend time answering quality inbound calls from customers
  • Empower customers to take action when their schedule allows it
  • Increase collections and reduce delinquency
  • Generate repeat business (a friendlier way to remarket)
  • Easily follow up on applications

With this type of reach, convenience, and user experience, lenders will be able to broaden their customer base and increase their number of online loan applications. Want to learn more about how DirectDrop Voicemail can help you reach more loan applicants? Reach out to us here

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