Many agencies think they have a strong network in the lending industry. While this is partly true, most networks are limited to collections managers or contacts who have moved from one bank to another. This means agencies miss out on many other potential opportunities.
The Bigger Picture
In the last 10 years, lending in India has grown a lot. There are now more lenders, including banks, NBFCs (Non-Banking Financial Companies), fintechs, and others. The number of loan products has also increased, creating more demand for good collection agencies.
But without a central forum or community, many agencies struggle to get noticed by lenders. This makes it hard to connect with new opportunities.
How to Make Your Agency More Visible
If you want to grow your agency, you need to take steps to improve your visibility. Here are some simple ways to do this:
- Reach Out to Lenders Directly: Don’t wait for an introduction. Many lenders are looking for reliable collection agencies and will appreciate your outreach.
- Use Professional Networking Sites:Platforms like LinkedIn can help you find and connect with key people in the lending industry. Share updates and engage to get noticed.
- Join Industry Events:Attend forums, conferences, and seminars by banks and NBFCs. These are great places to meet people and showcase your expertise.
- Create a Strong Profile:Build a professional image for your agency by:
- Creating brochures that highlight your services.
- Maintaining an active LinkedIn page with client feedback and updates.
- Building a website to showcase your services and achievements.
It’s Time to Evolve
The lending industry is growing fast, and staying the same won’t help your agency succeed. Use these steps to increase your visibility and take advantage of the many opportunities in this field.
About YuCollect:YuCollect is Unified Collections Infrastructure that helps you Connect with multiple Lenders across the Country and helps you Conduct your business in the most Compliant manner.
