Case Study: Auto Recapture2017-01-19T10:55:59+00:00

Project Description

Objective:
To gain new auto loans from current customers

Analysis:
This small (3-branch) institution wanted to leverage their relationship with current customers to obtain auto loan balances held at other institutions.

Action:
Using rough credit scores instead of FICO, the institution’s Marquis consultant identified approximately 2,100 qualified customers.

The Marquis Creative team designed a self-mailer, and the institution made a compelling offer including a cash bonus of $100 for loans of $5,000 or more, financing up to 150% of a vehicle’s value, and no payment for 90 days. The mailer also included a chart that demonstrated potential savings over a 60-month term.

Results:
The one-time mailing generated 53 new auto loans, as well as 25 secured and unsecured loans. With more than $1 million in new loan balances, the campaign had a 4.06% response rate and an ROI of 380%.