Holiday Skip-A-Pay: a Case Study2017-05-22T15:03:50+00:00

Project Description

HOLIDAY SKIP-A-PAY

Objective:

In order to increase profit and increase customer satisfaction, this institution wanted to reach out to creditworthy accountholders.

Analysis:

A MARQUIS strategist was consulted, who then analyzed the customer base in depth. Through research, it was suggested that a holiday promotion would help increase profit, while touching upon retention and new loan acquisition.

Action:

A holiday skip-a-pay direct mail piece was delivered to creditworthy recipients, allowing them to skip a payment on one or more of their existing loans by paying a small $25 fee per skipped loan. Each mailing piece included a Business Reply envelope to allow the recipients to reply quickly, and also included a personalized URL, offering the alternative of submitting their skip-a-pay request online.

Results:

For every $1 spent on the campaign, $16 in profit was returned to the client.

SOLUTIONS USED

MARQUIS Creative | MARQUIS OnTrax