Direct Selling Agents (DSAs) are the frontier troops in the Indian lending industry that drive loan disbursals across products such as personal loans, home loans, gold loans, and credit cards. Not any lead is, however, equal, and finding good leads is what makes a struggling DSA a super successful DSA with a good and profitable loan book.

Regardless of whether you are a free-standing DSA or a part of an NBFC or a bank, it is not always the speed that counts when it comes to building a loan book. Still, it is building the loan book of verified, creditworthy borrowers who can be converted into quick and reliable assets.

This is the way in which the best Loan Agency in India can generate good leads, which can lead to good and sustainable amounts of loan disbursals.

• Tap Into Referral Networks From Existing Borrowers 

Referrals come under one of the most affordable and reputation-based methods of acquisition of quality leads. A happy customer is bound to suggest to friends, colleagues, or relatives about these services given to him, all the more when they are incentivized to do so.

To implement this strategy successfully, the DSAs ought to have positive relations even after the loan has been distributed. Follow up to know how repayment went or sell other products such as insurance or top-ups. This could be attached to a simple referral system whereby one can receive a cash reward or discounts on the processing fee after encouraging clients to spread the word.

The reason why it works:

Referrals are also received with high trust, improved eligibility, and increased conversion because they come with a pre-filtered suggestion from the borrower.

• Use Social Media Platforms to Attract Intent Leads 

The modern world needs a good social presence even in such an industry as financial services. DSAs can develop personal branding on Facebook, Instagram, LinkedIn, and YouTube to discuss various loan products, eligibility, interest rate changes, and success stories.

You need not be a digital guru and plain man reels that explain how a 5 lakh personal loan operates or what the requirements are to make a home loan go viral and reach out to the right source.

You can even post low-cost geo-targeting advertisements in your area with Facebook Ads or Google Ads, particularly those in salary jobs or working people in need of funds.

The reason that is behind its working:

The social media leads are of a high intent nature and, therefore, more digitally literate, with high-speed processing and documentation.

• Collaborate With Real Estate Agents, Car Dealers And Builders 

In the case of DSAs that work in home loans, auto loans, or LAPs, it can potentially give good leads by targeting the networks of builders, developers, or car showroom owners. The loan agent targets this customer base and makes the necessary changes with the dealers. 

These are professionals who work with prospects who are midway through the purchase process and are in the market seeking finance. Put in place referral services where they give out leads in exchange. You can apply priority processing, better rates that you have with your lending partners, or even a fixed referral fee.

Even dentures can be established in their offices, or they can arrange co-branded seminars in housing societies or real estate expos.

The reason it is effective:

You do get warm leads whose time is ripe, which are already budgeted to borrow, and hence have higher conversion potential.

• Leverage Fintech Aggregator Platforms 

Quite a number of loan marketplace platforms, namely Andromeda, Paisabazaar Partners, BankSathi, and FinTiger, offer an opportunity to collaborate with DSAs and allow access to real-time verified leads. The landing pages also offer application monitoring, eligibility lookups, and auto verification.

After you are onboarded, you can bid on leads or get assignments in your favorable loan category. Such sites will tend to bring their traffic via personal SEO and advertising and should be a huge opportunity for DSAs that do not have a large marketing budget.

The reason why it is a good idea:

Fintech sites promise services such as instant lead generation, increased intent borrowers, and numerous lenders accessed via a single channel.

In the current competitive market, the performance of a DSA is not only determined by the number of leads given but also by the conversion of such leads into productive loans. Lead mining in variably good, known, and motivated sources makes sure that you have a healthy and strong loan book with minimal defaults and larger commissions.