The Financial Brand Insights - Fall 2021

” It may be a sprint to get to the borrower first, but once you make first contact, you must shift into marathon mode.

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Keep Campaigns Active Throughout the Customer’s Decision-Making Process It may be a sprint to get to the borrower first, but once you make first contact, you must shift into marathon mode. It’s crucial that your campaign last long enough to provide a steady stream of brand impressions throughout the customer’s decision-making journey. Depending on the loan product, and your company’s typical experiences with borrower timeframes, a 30-, 60- or 90-day campaign may be optimal. n

Reach Out via Email Immediately

Remember, this is a race. Competition for customers is fierce—lenders generated 4.7 billion prescreen offers in 2020 alone, according to Mintel Reports—and email is an effective way to get in front of your customers quickly. You can even send your firm offer of credit via email as soon as a day after the credit trigger occurs. Including email as part of your omni-channel trigger campaign lets the customer know that you are aware of their need for a loan and that you are serious about continuing to be their lender of choice. The email also puts the customer in a mindset that might make them more responsive to the direct mail that arrives within a week of the trigger, as well as more likely to notice your digital impressions (figure 2).

To read all eight best practices, download your complimentary copy of The Need for Speed: Optimize Trigger Programs, Get to Market First, and Fund More Loans today.

Figure 2

-30 Days Pre-Trigger Period

Trigger Event Date Day 1 Day 0

Day 3

Day 5 Days 6-90 End point

Customer applies for loan

Analyze the file for signals customers are in the market for a loan

Customer decision process

Social/display components extend offer

On-demand video streaming channel. OVER 100+ HOW-TO SESSIONS & EDUCATIONAL PRESENTATIONS

Social/display campaigns continue, so you stay top of mind with the consumer

Social/display audience targeted

Customer chooses lender

Email audience targeted Mail audience targeted

Email audience targeted (optional)

First-class mail arrives

Proactive Targeting: Probable right person

Reactive Targeting: Right person, right message, right place, right time





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