How we developed a unique targeting approach and improved lead volumes from direct marketing by more than 80%.
Our client has a new twist on a traditional business finance product. Our objective was quite simple: to help acquire new customers that would pass credit checks and become an active borrower.
Identifying businesses to target is quite easy. Identifying businesses that meet credit criteria, are likely to have a propensity to borrow, and for whom contact details for the decision makers can be found is not.
List purchase in the past had meant targeting the businesses that list vendors could supply, not the businesses our client wanted to target. Lists were also notoriously out of date and poor quality.
We took on board our client’s challenges and created an entirely bespoke targeting process to identify qualifying SMEs and then research the email addresses of decision makers.
A full email marketing service was then implemented to contact and nurture those decision makers, including:
Over a period of 12 months, we saw lead volumes from direct marketing increase by almost 80%, but more importantly the quality of those leads, defined as those passing credit checks increased five-fold.
Email open rates were consistently over 20% and click through rates around 9%, creating a constant flow of leads for the sales teams to follow up on. There was a direct and noticeable correlation between the number of campaigns that were sent out and the volume of lending written by the business.