8 loan marketing best practices to help you beat the competition

Loan marketing is a never-ending race. Market conditions may change, but your mission—to deliver enough qualified borrowers to sustain the business—never does. And the lender that reaches a borrower first with the best offer has the best chance of winning that business.

Given the industry’s complex dynamics, and customers’ ever-evolving media behavior patterns, it’s common for loan marketers to find themselves competing on increments of day or even hours. The difference between a customer and a missed prospect often boils down to time to market.

That’s where credit trigger lead programs come in. These always-on programs are the epitome of getting the right message to the right person at the right time, monitoring massive multi-sourced databases to identify in-the-market signals.

For years, the data scientists and marketing strategists at Deluxe have analyzed the results of trigger marketing programs, identifying eight best practices. By following these guidelines—which apply to any lender marketing any loan product—loan marketers can expect to:

• Reach qualified borrowers more efficiently and effectively
• Reduce the cost per funded loan
• Increase revenue
• Strengthen your brand
• Give competitors a run for their money

Read about all eight best practices (and see the data behind them) in our new white paper, The Need for Speed: Optimize Trigger Programs, Get to Market First and Fund More Loans.