The idea that some fast cash advance lenders advertise their service using celebrities continues to be a concern for those who oppose the short-term loan industry. There are not many direct lenders who pay celebrities for their brand as it is an expensive marketing approach to spread their company’s name. Let’s face it, not all short-term lenders could ever afford such an advertising maneuver.
Why would cash advance lenders invest in large marketing schemes?
Like in any type of business, money must be invested in order to see a return. Very few companies have small start-up margins. When it comes to the direct cash advance lender, the industry is packed with negative stories and a bad reputation. There are some companies that do have the money to put a celebrity’s face to their brand. I’m sure there are many reasons for doing so. For starters, faces are a visual connection to a company. The potential customer may not remember the name of the company but will remember the name of the celebrity. The connection will bring in a new application for a short-term loan. There is also the idea that if a celebrity is backing the company then the business must be trustworthy. The connection to a trustworthy face may be what a borrower needs to quickly send in the application expecting safe results.
Is this practice fair to the smaller companies who cannot afford a publicity stunt? The answer depends on whether or not you believe on the survival of the fittest. Those with money can and do, it can’t be explained more simply. It is up to the borrower to let the company know whether or not the celebrity was a good investment. It may depend on who the person is. There have been personalities branded on cash online lenders that bring attention to the business but not one of a trusted source. How can you successfully advertise an industry with a bad reputation?
It may just take hard work and dedication to best practices to get the message across. It would be false to proclaim that all lenders have good intentions. You may just have to go by word of mouth or longevity practicing safe loan procedures to win the race. Those who push the limits and offer more money in faster transaction times may just be targeting desperate people. Those who use a celebrity face to market their brand may be targeting a different target. Only the actual business will be able to state their reasons correctly, but it can be safe to say it all has to do with increasing business.
What would it take to win you over from one company to the next? Would you believe that the celebrity truly feels the direct lender offers the great loan or would you think that the celebrity smiles in the photo because they just made a nice package just for a company to have access to their name and photo? Whichever your reason, it is important that you use a company with friendly service and best cash advance practices.