The internet has developed consumer awareness for instant cash through a massive exposure to payday installment loans. Consumers can now apply for an instant cash loan in the convenience and comfort of their own home.
Payday installment loans are flexible and short term loans that enable a borrower to choose ways get hold of the cash they need to meet their urgent needs. Also, these loans are simple to apply for and the requirements are easy to comply with. Basically, payday installment loans are designed to meet immediate cash needs of people rejected by banks and credit unions.
However, due to the negative press by some critics of the industry which has been released about payday installment loans, many consumers are becoming defensive about these loans. Nevertheless, though some borrowers have had bad experiences, many are still patronizing these types of loans because they have had positive and rewarding experiences from payday installment loans.
With the advent of social media, consumer awareness has been revived up to allow consumers with up to date information and offers available from payday installment loans. With the help of social media, many people realize that payday installment loans can be a suitable short term solution for financial problems.
Social media has even encouraged application of payday installment loans. In fact, it has broadened the market of payday installment loans significantly. Consumers can now browse numerous payday loan companies on their favorite social media sites, whether in Facebook or Twitter. These social media sites have increased consumer awareness, on a daily basis, with promotions of online payday installment loan companies.
Here are some of the influences of social media on payday installment loans:
· Social media has become a part of the promotional strategy of online payday installment loan companies to help increase consumers awareness the latest offers available to them. Through social media, payday installment loan companies can easily reach out to their target customers. They can post their latest offers on social networking sites. In fact, in a recent study, among the 2000 internet users interviewed, 85% use Facebook and 49% use Twitter. Also, the study revealed that purchase decisions are strongly influenced by social media; some 71% of users responded to offers. With these facts, social media can be a big help for lenders to get to their target consumers.
· Social media allows customers to communicate with payday installment loan companies when seeking advice or provide improvements based on the level of satisfaction they have had with their loans. Most loan companies now use social media to get feedback from their consumers to help improve their service.
· Social media has also helped prevent fraudulent activities of some lenders. Most reputable payday installment loan companies use social media and disclose their company in social networking sites. However, to ensure the company you are dealing with is secure, visit their company’s website and look for a Secure Sockets Layer (SSL) certificate.
Social media has truly been a great influence in our everyday lives.