Case Studies: Financial Services - Alternative Lending Solutions

For over 50 years, this national Client has been a pioneer in the alternative lending space, helping Canadians unlock the value in their homes and improve their life circumstances, regardless of their age, income, or credit history. This Client turned to Datawyze to deliver a focused strategy on their brand purpose to be more inclusive, as well as build their digital maturity, driving application intent and ultimately growing their revenue.

Challenge

This national Client services consumers in many of the major markets across Canada, helping them unlock and use the money they have stored in their homes for things like debt consolidation, home renovations, and business capital, to name a few. Each year, this Client manages more than $500 million in annual lending, between the customers and businesses they work with on a daily basis, with a focus on home equity. They provide Canadian homeowners with an alternative to the traditional banking system, promising speed and efficiency through their streamlined approval process. They turned to Datawyze to help them navigate the challenging market conditions created by COVID-19 and build their digital maturity, with the goal being to outperform their previous digital marketing agency by improving total leads and their percentage of homeowner and qualified leads, ultimately growing their revenue.

Solution

Datawyze took the time to analyze this Client's previous digital marketing channels, campaigns, and results, evaluating the targeting parameters and methods used to measure success. We then developed a new strategy and execution plan with the goal of growing the business by improving visibility & acquiring new customers, driving application intent, and generating more leads that meet the business' qualification criteria. We delivered against this goal by overhauling existing channels and campaigns, introducing new ones like digital audio and connected TV, and daily, hands-on-keyboard supervision & optimization. We implemented tools and systems for continued analysis and optimization, allowing for flexibility while continuing to scale.

Results

Through consolidation of full-funnel digital marketing and media with Datawyze, coupled with our performance-focused strategy and execution plan, we were able to consistently generate over 3,000 total monthly leads for this Client, 2,000+ of which were homeowners, and 1,300+ of which met the business' qualification criteria. We set multiple records for daily, weekly, and monthly lead volumes across all categories, outperforming their previous service provider(s). We introduced a new attribution model and were able to significantly reduce their cost per acquisition (CPA) across all categories, helping make their marketing program more predictable and enabling them to accurately forecast outcomes. Digital now accounts for more than 70% of their marketing budget and lead generation efforts.

Client Testimonial

"These past two years have been an amazing journey working with the team at Datawyze. I have worked with many media partners and agencies during the course of my career across the globe, but have to say you folks are the best to work with – both professionally and personally. You bring together a great understanding and cohesive team, from whom I've learned a lot. Today, our digital adoption is at a place that we could never have dreamed of two years ago – all thanks to you!"

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