Illinois Lending Corporation

Illinois Lending Corporation

CASE STUDY

Situation Analysis:

Illinois Lending, a 20-year-old financial institution specializing in quick installment loans, was challenged with competing with similar financial companies offering “payday” loans that were often expensive and predatory.

Illinois Lending sought the help of Global 360 Marketing to distinguish itself from the costly alternatives and attract borrowers who needed emergency funds but were leery of doing business with the more controversial companies.

Goals:

  • Gain trust of consumers with negative opinions of “quickie loan” companies
  • Brand Illinois Lending as a “friendly” alternative to the payday loan companies
  • Increase customer base by 15 percent over previous year

Program Execution:

  • Global 360 Marketing initially conducted an online focus group to generate a list of concerns shared by potential borrowers as well as “burned borrowers” regarding smaller loan companies. Grievances ranged from sky-high pricing, to harassment, to ruining consumers’ credit as a penalty for missing a minimal amount of payments.
  • Employing this information, Global 360 created and executed an integrated, content driven advertising campaign highlighting the client’s unique service offerings. The television and radio campaign featured a softer, more empathetic approach to meeting customers’ needs.
  • Global 360 engaged in personality endorsement for radio and social media marketing
  • Global 360 managed content and delivery of all advertising.
  • Global 360 strategically placed the spots on relevant broadcast outlets to reach Illinois Lending’s most desired consumer demographic.

Results:

  • Illinois Lending increased its consumer portfolio by 30 percent within 90 days of personality endorsement campaign implementation and has maintained market share for the last three years
  • Company has established brand recognition and is known in the marketplace simply as “The better way to borrow.”
  • The company is on target to show an additional 10 percent increase in market share in 2018

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