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New Customer Acquistion for Banks and Credit Unions


financial services

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New Customer Acquistion for Banks and Credit Unions


financial services

Banks + Credit Unions

You need to differentiate yourself by more than just price. Sending the right offer to the right customer will make all the difference in your acquisition and retention rates. SourceLink is the nation's premier provider for checking acquisition programs and offers targeted cross-sell programs designed to best position the products and services your customers and members are looking for. If you are looking to increase your bank or credit union's market share, that's what we do best.

SourceLink also handles millions of statements (traditional and electronic) for banks annually. As an outsourcing partner, SourceLink can’t be beat.

Our acquisition programs are the best in the business. Just take a look at the examples below:

Interested in learning how our checking acquisition solution, GAIN, works? Watch this video!

 

Client Case Study: Central Bancompany

Mission: Central Bancompany needed to effectively acquire new consumer and small business customers and build market share.

Method: Identify market opportunities near locations and identify offers unique in their footprint.
 

Did it work?

 
 
Our Bank has continued to be a Forbes’ Best in Class performer because of the strategies SourceLink has put in place.
— John Hofmeister, Senior Vice President, Marketing, Central Bancompany

Program case study: Checking acquisition for 30 bank customers

Mission: Over 30 banks of varying sizes were tracked for growth in market share, account openings from direct marketing efforts, net household revenue lift and percentage of additional products added per account.

Method: The goals were to attract mass affluent households likely to carry high balances, and for others, to achieve more growth in new checking account households.

Did it work?

 
 

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Consumer Finance Lead Generation and Retention


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Consumer Finance Lead Generation and Retention


consumer finance

For consumer finance lenders, a multichannel approach will yield the highest response rate. Watch our video on how to add digital to your direct marketing!

Consumer Lenders

Looking for a partner who has experience, understands your industry and will deliver the success you need?  Well, you have come to the right place. 

For over 25 years, we’ve helped consumer lenders acquire and retain customers at the branch level and through online lending platforms. You want higher close ratios and increased retention rates with reduced acquisition costs, and whether you are interested in live check mailings, "invitation to apply" or pre-approved offer campaigns, we are uniquely situated to service your needs.

From data analytics to direct digital strategies, we are a soup-to-nuts partner for consumer finance lenders. We also offer an intangible – know-how. We've been at this for years, and know the state laws, set-up processes and MICR specs that go with any consumer lending campaign. Take a look at some of our satisfied customers below:


Client Case Study: Sun Loan Company

Mission: Increasing the number of new customers while maintaining low acquisition costs.

Method: SourceLink identified pure prospects and utilized a sophisticated model for those most likely to borrow.

Did it work? 

 
 

For over 20 years, SourceLink has been a trusted partner for our company. SourceLink has partnered with Tower to achieve low acquisition costs and high close rates through the use of live checks, pre-approved offers and ‘Invitation to Apply’ campaigns. They are absolutely an integral part of our business.
— Francis C. Lee, President and CEO, Tower Loan

Program case study: Multiple lenders utilizing live checks

Mission: New customer acquisition using loans in the form of a live check in the mail.

Method: A sample of SourceLink's small to mid-sized consumer finance lenders used SourceLink's data to target over 740,000 households in one year.

Did it work?

 
 

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Healthcare and Medicare Marketing and Lead Generation


healthcare

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Healthcare and Medicare Marketing and Lead Generation


healthcare

Medicare Marketers

Through the end of 2015, over 55 million Americans were enrolled in Medicare plans. It pays to better understand what makes your members tick. While consumer-driven healthcare continues to evolve, a vastly different competitive landscape for insurers has taken shape. SourceLink specializes in acquiring new members and then retaining them from year to year. You only have 68 days of AEP, how can you make the most of every one? Watch the video below:

 
 

It starts with a list of your ideal prospects – those that are most likely to respond to you and your offer. SourceLink then works with you to communicate with them efficiently and intelligently to provide the leads you need to succeed in AEP. And we do more than just mail – our services also allow you to directly message those same people, one-to-one using e-mail, social media, mobile and display advertising, both on and offline. Ever have a wrench thrown in your spokes during AEP? You might enjoy the video below:

 
 

Whether you need help with AEP, Age-in or retention, you may find value in the stories below:


Client Case Study: Mid-size Medicare Advantage plan in the Midwest

Mission: Increase new Medicare Advantage membership from previous AEP. 

Method: Develop targeted prospect lists, craft personalized messaging, coordinate banner ads and unique microsites.

 
 

Did it work?

 

Program Case Study: 2016 AEP for numerous clients

Mission: Improve on 2015 AEP results, both in cost per acquisition and overall new membership.

Method: Use predictive modeling for direct mail and then cross-match IP addresses to prospecting lists for targeted display advertising.

Did it work?

 
 


Great results (Midwestern Medicare Advantage Plan) – 48% conversion rate, a 139% increase. Cost per lead reduced 32% and cost per new member reduced 42%.

Even better results (Major Southeastern Non-profit Health Plan) – 41% reduction in quantity mailed and still led to 65% more new members, 64% reduction in cost per acquisition and a 71% jump in response rates.

“You gotta be kidding me” results (Northeastern Medicare Advantage Plan) – 2.15% overall response rate and 40% conversion rate. Enough said!


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