As a financial company, you've probably tested virtually every element of traditional direct mail credit marketing campaigns – from the offer, to the target audience, to the direct mail piece. It is all formulaic and often predictable. Alternatively, it's is not so clear how to extend credit marketing into the vast digital world.
Credit marketers know they need to reach consumers where they spend their time: reading emails, engaging on social media, surfing online, and watching video. But cutting through that noise -- while complying with extensive credit marketing regulatory requirements -- can be a challenge.
So how can credit marketers speak to customers in the right channels, present the right offers, and make it easier for consumers to gain access to new credit?
Reach, Engage and Convert Consumers through Digital Channels
Everyday, there are new opportunities to leverage digital channels for credit marketing. For example, credit marketers can deliver firm offers of credit via email. Think about how many times a day the average person checks email. Delivering credit offers right to your target audiences’ inboxes can be a cost-effective way to market.
How about social media and display advertising? Are you able to reach your desired target audiences through these channels? Many companies are transforming their offline lists to an online format. That way, they can deliver messages to their Prescreen audience across multiple channels. Now consumers can click on a digital ad and receive a firm credit offer after identification confirmation. Online real-time prequalification technology can also help consumers quickly know if they are likely to meet credit offer requirements.
In conclusion, incorporating these and other digital solutions into your credit marketing strategies is a journey. New processes must be learned, compliance must be checked, and new ways to test channels and offers will need to be developed. But to keep up with today’s digital world, it’s imperative. Working with a qualified third-party can help you navigate the digital path and create synergy across your credit marketing efforts. Learn more about Equifax Marketing Solutions