To use leveraged credit data and automated analytics to generate new loan accounts.
This $1.1 billion financial institution wanted to leverage the power of today’s responsive “big data” and communications capabilities to increase their loan portfolio in a competitive consumer loan market. They wanted to identify individuals who were already in the market for a particular type of loan and immediately present them with an offer to meet their needs.
Using information provided by the three credit bureaus, MARQUIS developed a credit trigger program to identify people in the area who were actively seeking specific loan products. Within 24 hours, each prospective customer was sent a customized letter with a competitive offer from the institution.
This credit program ran for six months, offering automobile loans, personal loans, credit cards, and mortgages. The institution gained $12 million in new direct balances. With a response rate of 6.1%, this credit trigger campaign earned $3 for every $1 spent. Matching the right product – to each client’s need – in a timely fashion was the key to success.
MARQUIS MCIF | MARQUIS OnTrax | MARQUIS Creative