3 Ways Messenger Benefits Lenders

How Messenger Benefits Lenders:

1. It shows your current borrowers you care
2. It allows for more natural communication between you and your borrowers
3. It drives brand awareness

The other day I had a question about one of my Google accounts. After spending ten minutes tracking down where I could talk with their customer service, I ended up having to download an app that I’ll never use again. And then I was informed no one was available to take my call.

Fortunately, they had a chat option, and I was able to talk to a nice man named Winston. Within minutes, all my questions were answered.

Now, imagine if there was a chat option that was on a platform, billions of people already use. And not only would you be able to use this to communicate with current borrowers, but also drive brand awareness, enable transactions, and potentially gain new borrowers.

Good news—there is a place where all that can happen: Facebook Messenger. Facebook Messenger is a simple, free chat-bot alternative to software like Intercom or Zendesk chat. It allows you to engage with your customers in real-time. You can implement it on your institution’s website or Facebook page relatively easily.

Now let’s talk about a few reasons why you should be using Messenger.

It Shows Your Current Borrowers You Care

When you add Messenger to your website and have the option available on Facebook, you’re allowing borrowers to communicate on their terms. We’re all busy, and our minds are going a thousand miles an hour.

Imagine you’re communicating with a friend over Messenger when something in the conversation triggers the thought that you may have forgotten to make your loan payment that month. How amazing would it be if you could have that question answered in the same app you’re chatting with your friend in? Open another message with your finance company and ask, “Uh, did I make my payment this month?” Wait a few seconds. They answer back, “You sure have! Thanks so much!” You continue talking to your friend with a little more peace of mind baked into your psyche.

Can you envision the ripple effect from an exchange like that? Your institution seems approachable and helpful, like a good friend you can turn to when your car breaks down on the freeway. Since Messenger is used socially, it can feel more casual. This can lead people to be more inclined to ask questions and talk with you than they would be if they had to call or email.

Another advantage? It’s private. Loan and payment information is sensitive, so customers likely won’t be asking you questions via your Facebook page. Adding a “Send Message” button to your page allows for seamless, convenient, and private conversation between you and your borrower.

Fun Fact: In the US, 69% of people who were surveyed said being able to message a business helped them feel more confident about the brand.

It Makes Your Life Easier

Another fantastic benefit of using Messenger is the ability to integrate with AI software to create a bot. Using a bot allows you to have a two-prong approach with your customer service. Instead of borrowers being put on hold, or just not receiving a response, your bot will be their first point of contact. And then they can be funneled to your customer service team.

This will help you manage all the messages you receive. Depending on the bot, you use, if it’s a frequently asked question (FAQ), it could respond with an answer or with a link to a resource that answers FAQs. If it’s a question that requires a customer service representatives’ response, it can send it to the first available person. That way, it cuts down on waiting time and helps your customer service team get more done.

It Drives Brand Awareness

In the past, we’ve talked abouthow beneficial Facebook ads can be for lenders. Facebook has over one billion daily active users, and they give the ability to pinpoint your audience. So, your message can be spread far and wide targeting the people you want to see it.

You can take your ads to the next level with a “Click to Messenger” feature attached to them. That way, people can immediately ask questions before they get distracted by the next thing or annoyed that they can’t find a place to communicate with you conveniently.

The best thing about Messenger is it makes communicating a lot easier and more efficient for both parties. When that happens, people are more likely to engage with you and use your services.

Your goal should be to eliminate any difficulties with communication. If communication is accessible, people’s trust will increase. And trust is a lending institution’s number one friend.