How To Convince A Customer To Take A Loan [Loan Sales Strategies]

How To Convince A Customer To Take A Loan

Numerous loan officers often wonder about the best strategies to convince a customer to take a loan. As you might already know, getting a lead and converting such to a paying customer can be a hurdle. But when you incorporate the right tactics, you wouldn’t have to struggle when getting them to take action. 

The first line of action is going back to the drawing board and ensuring that you’re equipped with the right information. When you understand the products and services that might help your potential customers, it will help you draft an effective strategy that yields results.

In this article, you’re going to learn some of the incredible ways you can utilize to convince your customers to take a loan. Rest assured that it isn’t complicated, but it will bring about a drastic improvement in orders.

Strategies to Convince a Customer to Take a Loan

convince a customer to take a loan

  1. Build Your Network

Before convincing customers to take a loan, there is a need to have a network to offer it to. One way to do this is by reaching out to professionals in different industries and establishing a relationship. The bigger your network, the more massive your referral network will be.

You can use numerous avenues to build your network, and one of them is conference meetings with key figures in your industry. When going to such an event, make sure that your business card is with you. The first impression is significant, and try not to sound too salesy as that could be a turn off to prospective networks.

  1. Create Awareness and Publicity

Another excellent way to sell a loan to a customer is by creating some visibility for your services. By building a website, you make vital information and financial assistance readily available to your customers. From your website homepage, some trust signals like customer reviews or testimonials will prove very useful in convincing a customer to take a loan.

Aside from a fully functional website, another way to create visibility for your financial services is through social media ads. You don’t need to panic, as this is pretty easy to pull off without a need for experience. With social media platforms like Facebook, Twitter, and Instagram, running sponsored ads to your target market is easy and cheap.

When you’re able to reach your ideal customers, convincing them to take action wouldn’t ever be a problem. However, the reason some loan officers have a problem is when they keep targeting the wrong audience. No matter how aggressive your marketing strategies are, it wouldn’t yield any results.

  1. Understand Your Target Market

If you must ever convince anyone to take action, there is a need to know your target. That way, you will know the right things to say and do that will provide results. Without knowing who your customers are, their lifestyle, interest, or background, you wouldn’t create an effective marketing strategy. When you ask the right questions, you will get an idea of your customers’ desires and motivations.

Take note that people take loans for various reasons. Some take loans, perhaps to buy a plane ticket, or maybe to finance their startup or education. Whatever be the case, knowing a great deal about your customer will help you convince them to take a loan.

Most times, your target market may not need a loan. But by knowing their interest, you can entice them to take a loan, and they wouldn’t think twice about it. If the application process for a loan is easy and smooth, they will be attracted to the idea.

  1. Disclose The Benefits of your Loans

If you must convince a potential client to take a loan, talking to them about the loan features will help them make a decision quickly. For instance, telling them how low the monthly interest rate is compared to your competitors might be the edge you need. Also, you can recommend a small monthly repayment until it is paid in full. That way, paying back wouldn’t be a burden.

Whatever offer or claim you make, make sure you use strong emotional words to win them over. Something like: “Our loan will help you enjoy your vacation, and the low monthly payment ensures repaying isn’t a hurdle.”

  1. Avoid Technical Jargons while Pitching

You might think that using technical languages on your clients makes you look professional and reliable. However, the reverse is the case. To sell a loan to a customer, try as much as possible to avoid these technical jargons that your client will have difficulty understanding.

If you must use a technical term, make sure an explanation follows it. By so doing, your customers will feel involved in the conversation, even further their knowledge in the process. Before you start to converse with a client, find out if the customer is familiar with banking terms. Remember, an in-depth understanding of your target market will help you determine the right approach.

One of the major objections when selling loans is a prospect telling you I am not interested. Before you make your sales pitch, always have a rebuttal for the I am not Interested Objection


  1. Embrace Content Marketing

As a loan officer, you probably know that your clients wouldn’t require your services frequently. It could take them a few months or years to be interested in another loan. Before then, how do you nurture such clients during this period? The answer is content marketing. To pull this off, you will need to have a blog section on your website to publish valuable information that your clients will be helpful.

If they are already on your mail list, they will be getting notifications of new posts and offers. The reason for this is to keep you in mind at all times. When they are finally ready to take a loan, you will be their first option. If you can automate this content marketing strategy, you will be surprised at the rate of growth. When you couple this with email marketing, the result will be exponential.

  1. Keep It Short

The human brain has a brief attention span, and there seems to be no improvement in that department. If you must get your potential customers to take action on your offers, you need to keep your promotional text or list of benefits in a short format.

Instead of outlining ten benefits of taking a loan, enumerate them in three points for a better result. You can go ahead to emphasize your top three benefits. If you want to confirm if this work, when was the last time you read a sales material online?

Most people have developed a unique mechanism that causes them to skip such content automatically. But when you keep everything short, they will have no choice but to read when it appears on the screen.

  1. Go Mobile

The chances are that you’re probably reading this article on your mobile phone. Are you taken aback by this insight? The fact is, the majority of your customers are heavy mobile users, and you can convince them to take a loan when you optimize their mobile experience to be smooth. If you’ve installed Google Analytics on your website, you will notice that 60% of your visitors are mobile users compared to desktop or tablet.

Do you know what that means? If you can make your website or app mobile responsive, it will go a long way to convince customers to take a loan. Mobile users are on the rise, and Facebook can give a good indication of such a development.

Facebook is the world’s biggest social media platform, with over a billion users using their mobile devices to interact. When designing your website, make sure that your web developer is using responsive elements. That way, you can tap into the mobile market.

  1. Be Consistent in Your Sales & Marketing 

One of the mistakes loan officers often make is usually to set up their marketing strategies only to forget about it. If you must maintain orders, you need to be consistent both in your online and offline channels. It entails monitoring, maintaining, and managing your website, social media handles, Google My Business, and other media channels you might be using.

In addition to that, there should also be consistency in the number of sales call you make. To get an appointment with a prospect, you should make a good number of calls

Also, branding needs to be consistent across all your channels. Your logo, business information, and contact address need to be consistent. You don’t want to lose a deal just because of a wrong number, which is why you need to ensure that your brand information is the same in all your channels.

  1. Personalized Email to Every Prospect

There are many ways to convince a customer to take a loan, and one of them is personalizing the emails you send to them. Some email software like Mailchimp allows you to segment your email subscribers, helping you to send personalized and valuable emails to your contacts.

A personalized email has a way of getting clients to take action, and it will be a strategy that you should not overlook.


Selling a loan to a customer doesn’t have to be a complicated ordeal. The first step is identifying your target market and their pain point. When done, exposing your offers by running targeted ads becomes the next logical step. With a functional and effective sales funnel, you wouldn’t have a problem convincing customers to take a loan.

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