OBJECTIVE:
Generate Auto Loans Through Direct Mail to Members
Chevron Federal Credit Union conducted a successful
Auto Loan campaign utilizing iNTEGRATOR's Campaign Manager. The campaign
consisted of two primary target groups:
Members with a credit score of 690 and
higher.
Members with a credit score between 660
and 689.
The first offer that targeted members with
a credit score of 690 and higher was sent to 15,713 households. The offer
was valid for 90 days on a loan up to 72 months. A maximum of $35,000
could be borrowed at a special rate. There was a special rate
incentive for loans less than 36 months for the term.
The second offer that targeted members
with a credit score between 660 and 689 was sent to 1,206 households.
This offer was also valid for 90 days on a loan up to 72 months. A
maximum of $25,000 could be borrowed at a rate approximately 50 basis
points higher than the first group.
Results of Offer 1:
186 Households Responded to the Offer
1.18% Response Rate from Member Direct
Mail
Average Account Profit is $315
Average Account Balance is $19,575
Return on Investment for Offer 1 is
776.97%
Results of Offer 2:
34 Households Responded to the Offer
2.82% Response Rate from Member Direct
Mail
Average Account Profit is $404
Average Account Balance is $19,422
Return on Investment for Offer 1 is
2391.78%
By
utilizing iNTEGRATOR’s Campaign Manager Chevron Federal Credit Union was
able to track, measure and report the effectiveness of their Auto Loan
campaign.
At RFG we take pride in providing
research-based solutions that are effective and easily implemented. We
are dedicated to exceeding our client’s expectations and ensuring that
they receive value from their relationship with RFG.
Since 1983, Raddon Financial
Group (RFG) has provided primary research and marketing solutions to the
financial services industry. Headquartered in Lombard, IL, RFG
provides research solutions to over 1,000 financial institutions
nationwide.
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