1 / 17

Marketing Strategy Auto Equity Loan (AEL) Project Team 3

Marketing Strategy Auto Equity Loan (AEL) Project Team 3. Internet Advertising. Internet Keywords Based on how respondents borrow money. As opposed to limiting it to vehicle-related searches (AEL & title). Facebook Demographic specific ads. Radio Advertising. New messages

adamma
Download Presentation

Marketing Strategy Auto Equity Loan (AEL) Project Team 3

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Marketing Strategy Auto Equity Loan (AEL) Project Team 3

  2. Internet Advertising • Internet Keywords • Based on how respondents borrow money. • As opposed to limiting it to vehicle-related searches (AEL & title). • Facebook • Demographic specific ads.

  3. Radio Advertising • New messages • Remove comparisons to title loans • Focus on what the customer can do with the money • 97.3 chosen to target Hispanic population • 106.1 chosen to target general population

  4. Billboards • New messages • Same as radio but conveyed in visual format • On highway should targeting car owners (auto repair bills) • Near hospitals should target medical bills • Others should target homeowners

  5. Store Level Programs • Increase incentive program for AEL • Competition between stores • Referral program for existing customers • $50 cash for each loan closed • Promoted through email and text • Referral program for area mechanics • Lunch or store credit for each loan closed • Door hangers in areas identified by research data

  6. Community Event • Increase knowledge and exposure of AEL • Annual or biannual area wide store events • Store event featuring “pay your bills” drawing • Limited to $2,000.000 • Promoted through radio, in store, and email/text customers

  7. Research Results Auto Equity Loan (AEL) Project Team 3

  8. Survey Locations

  9. People Don’t Know! • Our research shows that 90% of respondents did NOT know what an AEL is. • The other 10% thought it was the same thing as a title loan.

  10. Demographics

  11. Demographics Cont.

  12. Borrowing Money

  13. Media • Favorite Radio Stations: • 106.1 • 93.7 • Facebook!

  14. Secondary Research Data(From esri Business Analyst) • 84.2% have access to the internet • 27.5% used the internet in the last 30 days to obtain financial information • MPI is 115 • 51% own homes in these areas • Median household income for 2010 was $61,526 (2015 projection - $68,421)

  15. Secondary Research Data(From esri Business Analyst) • Drive time to work • 27.3% spend 20-24 minutes • 14.8% spend 25-34 minutes • 23.6% spend 35-44 minutes • 93% own vehicles • 39% own 1 • 40.4% own 2

  16. Secondary Research Data(From esri Business Analyst) • Total healthcare spending • $1.46 billion • MPI is 102 • Total vehicle maintenance and repairs • $400 million • MPI is 111

  17. Questions for Cash America • What keywords were used? • Where were the billboards? • What radio station and what time? • Do you have database of existing customer email and phone numbers? • Store incentives?

More Related