Synergent Blog

The credit union experienced a 27% loan increase year-over-year during the campaign period!

Members were encouraged to “hit the road” and start their adventure with Lisbon Community FCU by taking advantage of an auto loan offer featuring a 4.5% APR, regardless of credit score, on a 60-month note with 90 days payment free. Synergent collaborated closely with Lisbon Community FCU to develop the campaign strategy and execute a targeted approach that narrowed the audience to existing members who did not currently have an auto loan with the credit union.

The limited-time offer urged members to visit the credit union’s branch or website, or to call for more details about obtaining their loan. They also were offered a $25 referral bonus. Coordinated postcards and emails were sent to 6,974 members. During the eight-week campaign period, 97 auto loans were opened totaling $2,908,269 in auto loan balances. From that, 71 loans could be tied directly back to the campaign’s targeted list totaling $1,937,461 in new auto loans. Overall, this represented a 27% increase in total auto loan balances opened over the same period in the prior year.

With the campaign paying for itself in less than one month, the combined strategy and execution by Lisbon Community FCU and Synergent demonstrated the power of targeted marketing—reaching the right audience, with the right offer, at the right time—and delivered remarkable results for the credit union.

Expanding on this collaborative effort, the credit union launched a :30 commercial on the Spectrum Network, which ran across television, streaming TV, behavioral display, behavioral online video, and search. The credit union also shared :30 and :15 video ads on its social media channels. To further amplify the campaign, the message was featured across the credit union’s owned channels, including website pop-ups, digital signage, member receipts, in-house signage (teller, door, and drive-up), as well as postcard-sized campaign materials placed in each member service representative’s and loan officer’s office.

“From a lending perspective, this campaign was a clear success,” said Shiloh Hagerman, Vice President of Member Engagement at Lisbon Community FCU. “The combination of an attractive auto loan offer and a highly targeted audience allowed us to reach members who were ready to act. The results not only exceeded expectations but also reinforced the value of data-driven marketing in driving sustainable loan growth.”

Campaign Services Included:

• Comprehensive Creative Concept and Design
• Copywriting and Message Development
• Targeted Data Extract and Data Mining
• Full-Color Postcards
• Email Template Development
• List Preparation and Mailing Services
• Tracking, Monitoring, and Reporting

The Offer

• Member-exclusive offer to open a new auto loan with Lisbon Community FCU
• Limited time offer
• $25 referral bonus
• 4.5% APR, regardless of credit score
• 90 days payment free

Target Audience

• 6,974 members with no auto loan with Lisbon Community FCU

Response

• Email #1: 37.6% open rate, 2.3% click rate
• Email #2: 35.6% open rate, 1.6% click rate

Results

• 97 new loans opened over the campaign period, totaling $2,908,269
• 71 new loans could be tied back to the targeted mailing and email lists, totaling $1,937,461
• 27% increase in total loan balances opened in the same period, year-over-year
• 1.02% conversion rate based on the 6,974 unique members on the targeted mailing
  list

Return on Investment

• Average interest rate: 5.36%
• Average term: 61 months
• Total estimated first-year interest earned: $95,559
• Estimated interest earned over the life of the loans: $280,215
• Total campaign cost: $8,263
• Return of $33.91 on every marketing dollar invested during the campaign period
• Marketing campaign paid for itself in less than one month

Learn More

Let’s discuss your credit union’s next marketing campaign. Contact us today to schedule an initial marketing consultation.