The 3 Top Reasons Kiwis get a Personal Loan

The 3 Top Reasons Kiwi’s get a Personal Loan - FIRST NZ’s New Industry Report & Survey on Personal Loans

FIRST NZ just released a new industry report showing how visible and how much online reach New Zealand’s personal loan providers have within Google’s Search Engine. Additionally, a consumer survey was carried out, discovering that Kiwis number one reason for considering a personal loan is to finance a car, closely followed by debt consolidation.

By utilising their bespoke metric called RBR (Rankings Based Reach) FIRST revealed that not banks but a non-bank lender named “Finance Now” leads the RBR for the analysed search terms – followed by Westpac, ANZ and Kiwibank.

The personal loans market is highly competitive and lots of players are looking to gain a larger proportion of market share online. Although the competition is high, more than half of all analysed companies are not “really” doing a great job and making best use of what is presumably their most cost effective marketing channel: “Search”.

A recent survey showed that usage of smartphones and tablets will continue to increase over the next few years, personal loan providers should have a plan in place to cater for the increase in mobile visitors.

FIRST found that Kiwis, apart from considering a loan for financing a car, also apply for loans for debt consolidation, and nearly one out of 8 respondents revealed covering the costs of travelling was a major consideration for them getting a personal loan. In contrast, the minority of people mentioned they applied for a loan when making “larger” investments in electronic goods such as personal computers.

To get the full industry report and survey data, please download the full report below.

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By conducting this industry report FIRST used its metric called RBR (Ranking Based Reach) to estimate how well each company is ranking in search engines, which provides a simple way to compare a website’s search engine rankings with its competitors.

Download the full industry report here.

FIRST is New Zealand’s leading multi-disciplinary digital agency that focuses on delivering campaigns and creative that targets, captures, engages, convinces and converts consumers. Visit the FIRST website to get more information on their digital marketing services.

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