(Chicago, IL) June 28, 2012 – SourceLink, a top 5 largest privately held CRM/Direct Marketing Agency, announces today the release of MORE, an innovative campaign solution that gives lenders the ability to reach prime mortgage refinance prospects by utilizing direct mail and personalized campaign microsites while maximizing return on marketing investment and significantly lowering acquisition costs.
Lenders are looking for innovative ways to gain the attention of qualified mortgage refinance customers. With interest rates still low, refinance offers are flooding the market. SourceLink has created a mortgage refinance campaign strategy that gains attention and increases response.
MORE is SourceLink’s one-stop mortgage refinance solution. By using multiple data parameters and tri-bureau solutions, they are able to select the best targets within a lender’s footprint. Through eye-catching creative that drives homeowners to a custom microsite where they are encouraged to realize their savings through an interactive payment calculator, this true multichannel campaign strategy is gaining attention and increasing consumer response.
The data strategy behind MORE is key in identifying ideal prospects. The modeling process begins with attributes like LTV, current interest rate, current financing strategy and other indicators. Next, behavioral and lifestyle attributes are combined in a model for high propensity for both savings and action. Finally, selections are blended from all 3 major credit bureaus to ensure a maximum universe size of qualified prospects based on lenders’ underwriting requirements.
“With historically low interest rates, many homeowners are responsive to refinance offers,” reports SourceLink’s Chief Strategy Officer, Matt Graham. “The challenge is with the depreciation in home values in recent years and other financial challenges, many of those interested are unable to qualify. Additionally, many consumers don’t have the tools to identify savings in their own situation. MORE’s personalized, interactive savings calculator, combined with a sophisticated modeling strategy, ensures that lenders are spending their time with pre-qualified prospects with reasonable expectations.”
“In the current economic environment, consumers are looking for financial flexibility, and they want a financial institution that brings valuable ideas to help them save money in a safe and controlled environment,” says Susan Wolfe, VP Financial Services for Mintel Comperemedia. “Opportunity still exists for banks and credit unions to create new options for their current customers and prospects to save money by refinancing their mortgage. SourceLink’s MORE strategy will help build deeper relationships with existing customers and drive new customer acquisition.”