CARMEL, Ind.-Allied Solutions has introduced an interactive marketing program that's boosting CU auto loan portfolios and cross sales, and providing measurable results.
Called iSolutions, the program includes an auto recapture component (called v-Recapture), a campaign to attract new loans from car buyers who are in the market again (called TradeUp), and an onboarding program (called Member Assist) that seeks to deepen relationships with members who join the credit union for just the car loan.
PURL Is A Gem
The key to the program is a streaming video marketing message that is delivered via a personalized URL (PURL) in an e-mail, and contains a message customized to the targeted audience. The PURL not only delivers the video message, but allows the individual to click on links to receive more information and to begin the loan process.
"We have tested this with a handful of credit unions so far, and several have completed the program. They have seen very good success and iSolutions has let them track their results all the way along," said Pete Hilger, Allied president. Hilger said a number of credit unions compared the results of iSolutions head-to-head with the CU's traditional direct marketing, spending the same budgeted dollars on each effort. "Consistently, iSolutions produced more loans, usually three-to-one."
Hilger said the cost for iSolutions generally ranges from $5,000 to $10,000 per component. iSolutions offers a subscription-based model that allows clients to utilize proven templates, or custom videos can be created that boost brand and performance.
'Step Out of Bomb Shelter'
Allied feels that iSolutions is being offered at a time when credit unions are starting to "step out of the bomb shelters" they were in during the recession and are now looking at more strategies to increase their business. But Hilger understands that credit unions today really want to validate ROI.
iSolutions comes with an online dashboard that allows the CU to see results down to the individual member level. Credit unions can see who has opened the e-mail, who has clicked on the video, how much of the video was watched, who requested more information and who applied for a loan.
Hilger noted that the Member Assist component will do more than just deepen relationships and cross sell CU products and additional fee income services, such as GAP and mechanical breakdown coverage, it will bring in more car loans. "That is one very nice surprise we have found," he said. "As iSolutions connects with people after they come to the credit union for a car loan, many are saying they have a second car loan somewhere else and are bringing that over, too."
iSolutions was created in partnership with Member Assist, LLC, Chicago, and Mudd Advertising, Cedar Falls, Iowa.
For info: www.alliedisolutions.net