Keeping abreast of the latest technology tools and how to use them efficiently can help you grow—and retain—your client base.

Marketing tools are always changing. For a private lender without a dedicated marketing team, keeping up with the latest developments can be tricky. Using them to create trusted long-term relationships can be even more challenging.

Reaching Your Audience

Let’s start with some of the basic tools that allow you to market to a broad audience. Keep in mind that most of these are free or cost a minimal amount of money. But you’ll likely need to invest a bit of time familiarizing yourself with them and setting them up if you aren’t already using them.

• Don’t overlook online directories. Every search—ranging from “best burger joint” to “private lender”—starts or ends online. There is a plethora of search engines available these days—Google, Bing, DuckDuckGo, Siri, Alexa and more. People will use all of them, depending on their preferences, to look for you. Get your company listed in every directory possible.
• Become a member of an association in your state—and at the federal level as well. Being a part of these associations will catapult your status as a lender and help you with search engine optimization (SEO). Your name and your firm’s name will likely be listed on the association’s website. In addition, the association may issue online press releases, etc., containing your name.
• Write blogs with content people are searching for. For example, what is of interest to professionals in your industry? A different way of lending? Better rates? Better ways to fund a deal? The different deals you are willing to fund?
• Pay attention to reviews—they are today’s business currency. We live in a world where your reputation is at the fingertips of people who leave online reviews, star rankings, and comments. When people search for you, they generally will come across reviews of your business and read at least some of them.

Google is one platform where people can leave reviews. Those reviews not only help build (or harm!) your reputation, but they also help with SEO. Make sure your Google profile is accurate and up to date. Note that early last year, Google renamed Google My Business to Google Business Profile, so head to the latter to manage your profile.

You really have no control over who says what about your business; anyone can leave a review, good or bad. Make sure you provide great customer service to improve your odds of getting great reviews.

• Create a social media presence that represents your company, culture, and overall business. Don’t constantly post promotional material. Include employee activities in the community, highlight employee accomplishments, engage with those who post on your feeds, provide a behind-the-scenes look that might be interesting to your customers, etc.
• Optimize your website for mobile and provide a positive user experience. Make it easy for visitors to learn who you are and what you can do for them in the first three seconds.
• Maintain a clean list of client email addresses and use it to send emails that speak to clients’ needs. A clean list means people you are in contact with and have permission to send to. Don’t purchase lists. If you send emails around the world, emails from purchased lists violate the European Union’s General Data Protection Regulation (GDPR). California already has a similar law. Be sure to know your state’s email laws, but generally it’s wise not to purchase lists.
  Successful emails consist of an enticing subject and a message with no grammar, syntax, or spelling errors. The message must also contain information the recipient deems important along with a clear call to action and your logo (for branding). Be sure to personalize the email. Don’t address your recipients generically if you don’t have their first name. Instead, familiarize yourself with the steps for including personalization for email addresses for which you don’t have a first name. (This is another reason it’s important to keep clean lists!)
  Email is the marketing cockroach. It will never die. Keep your readers engaged and interested in your communications. Always check open and click-through rates to find out what content your readers enjoy by reviewing where they spend the most time. Email metrics provide a wealth of information that can help make your business more successful.

• Consider online paid ads. If you want to try paid ads, Google and Bing will be happy to take your money. The idea is people are going to search for “Private lender in (whatever state you are in).” Make it easy for them to find you.

Software Facilitates Individual Interactions

Be transparent with investors and borrowers. It’s the one thing you must do above all. How can you achieve that one borrower and one investor at time? Software offers a variety of ways to transparently market your lending entity so investors and borrowers feel they are receiving an individual experience. Here are a few:

• Convenience and accessibility. Investors enjoy keeping track of their funds round-the-clock. Supply them with a gateway that always makes portfolio analysis available. Also, when tax season comes along, upload tax forms to their portal so they can readily access them. Do you have fresh investment opportunities available? Upload to the portal all relevant images and details about the properties so investors can quickly make an offer or contact you about the investment.
  Likewise, you can use software to establish transparency with your borrower base. Borrowers need an easy way to apply for your loans. Create a link to the application on your website. Give borrowers a secure portal to upload documents, communicate with you, and check on the status of their application. Don’t overlook convenience and simplicity—make it possible for borrowers to text or chat with you. Borrowers appreciate being able to make recurring or one-time phone payments too—make that possible. And, like investors, during tax time, borrowers want to be able to download and print their tax forms at their convenience.
• Cybersecurity transparency. Providing additional levels of security is no longer just a smart idea; it’s a required one given the prevalence of cybercrime. Borrowers and lenders will be giving you sensitive information such as their Social Security numbers. Make sure you provide an encrypted platform and let them know the platforms they are using to upload their information is monitored by the highest security available. It’s also a good idea to add a service for email encryption so you can send secure emails to your customers.
• Reports. How can reports help you market your business? You can distinguish yourself from the competition and improve the reputation of your business by presenting stunning reports that accurately depict investor earnings, for example.
• Additional software functionality. Software remembers to pay your investors, invoice your clients, upload tax forms to their portals, tie loans to different indices, establish sophisticated amortization plans, break down construction budgets and expenses, electronically transfer cash, collect, track escrow payments, and so forth.

The software platform you use has the potential to make a lasting, trust-fostering impression that will create repeat clients for years to come. With that said, it can be difficult to sort through the various platforms and their features to decide which one is right for you and your clients. To start, make a list of all the absolute nonnegotiable features and functions you need. Every company will tell you they are the best. Your task is to prove that for yourself. Talk to representatives and ask pointed questions, read reviews, talk with other lenders you have a good relationship with, ask to be walked through a demo, etc. Have fun and enjoy the search.