To obtain new installment, auto and real estate loans
This $1B institution wanted to generate new loans on an ongoing basis, targeting highly-qualified customers with pre-screened offers.
A daily credit trigger program was initiated, monitoring the institution’s customer base for new credit applications. When a qualified customer applied for a mortgage or installment loan elsewhere, Marquis automatically sent a letter the next day. For auto loan applications, the mailing was delayed by a month and at that point a refinance offer was sent.
Over a 90-day tracking period, the institution gained 15 new auto and installment loans and 138 new mortgage/home equity loans, with total new loan balances over $6.5 million. The response rate was 10.89%, for an ROI of 1,660% and total margin of $192,918.