Results Matter #17
Consumer Finance Case Study

Consumer Finance Organization Boosts Holiday Loans By 43% And Lowers Acquisition Costs To $31 Per Loan



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The Challenge

A 250-location consumer finance organization needed a new audience and channel strategy to drive an increase in booked loans during the holiday lending season. It also sought a more efficient approach that would simultaneously reduce acquisitions costs per loan.

Results

We helped the consumer finance organization:

$3M
In booked loans over a 60-day period
43%
Lift in booked loans with the addition of email to direct mail
$31
Acquisition cost per booked loan
2M
Direct mail and email communications sent

The Solution

We developed a credit prescreen model to isolate credit-worthy targets likely to engaged with a consumer finance company. We then created brand-aligned direct mail, email and landing pages that streamlined the application process, and tracked and reported results for continued campaign optimization.

What did we do

We started by understanding and defining the key desired business outcomes:

  • Increase new booked loans over the holiday period
  • Reduce acquisition cost per booked loan
  • Successfully distribute millions of direct mail and email offers

How we do it

We effectively reached high-propensity, high-value prospects using these five essential steps:

  • Developed a credit prescreen model by state that isolated credit-worthy prospects likely to engage with consumer finance companies.
  • Combined that with an email model targeting prospects who would apply online for $500+ loans.
  • Developed creative consistent with the client’s brand.
  • Sent prospects direct mail, email or both directing them to landing pages that streamlined the application process.
  • Tracked and reported results to gain insights that optimized results over the course of the campaign.

Services provided

Strategy

  • Audience
  • Channel
  • Messaging

Data & Analytics

  • Enrichment
  • Modeling
  • Analytics
  • Measurement & Reporting

Creative

  • Print
  • Web
  • Editorial

Omnichannel

  • Direct Mail
  • Email