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OVERVIEW
Interest rates were on the rise and consumers needed more loans. This situation, coupled with a serious local housing shortage, meant Holy Rosary Credit Union (HRCU) needed to accelerate origination traffic for consumer loans.
PROJECT GOALS
The Ask
Develop, plan, and execute a strategy to increase loan origination traffic and overall brand awareness.
The Answer
A research-backed integrated marketing campaign that takes advantage of the untapped market for loan generation even with a rising rate environment.
PROCESS
We began by researching the market for various related products and assessing the demand and competition in HRCU’s target area. As a best practice, we add Urchin Tracking Module (UTM) parameters to every advertising effort to traffic the success. This tool makes it easy to add campaign parameters to URLs in order to measure custom campaigns in Google Analytics. To help illustrate full attribution through its application process, HRCU also implemented a tool called AlphaRank.AI, which allows them to see the UTM parameters to track loans and applications from different marketing efforts.
RESULTS
AlphaRank.AI allowed HRCU to determine that 33 completed loan applications came directly from Pannos campaigns in the month of June alone. Additionally, according to HRCU, 82% of all completed applications from the Google campaigns were fully funded. As a result, these Google campaigns continued into the month of July due to the strong likelihood of continued success.
Over a combined three-month period, non-mortgage applications driven by Google Ads totaled 4,790 unique application visitors, 158 completed applications, and a 20% average funded rate. The campaign saw a combined lifetime net ROI of $76,668.00 (after agency/media insertion costs) and a lifetime net ROI of 1,433.05%.
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