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Effective Marketing for Borrower Support Services: Strategies and Success Measurement

In this session, explore innovative marketing strategies for borrower support services. Learn to develop a targeted marketing plan that considers budgetary constraints while maximizing impact. Discover effective marketing methods to reach your intended audience and weave new messages into your existing marketing strategies. We will cover how to measure success through defined outcome metrics, including both short-term and long-term goals. Join us to enhance your marketing techniques and improve borrower support outcomes while sharing your progress with peers.

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Effective Marketing for Borrower Support Services: Strategies and Success Measurement

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  1. Borrower Support Services for Alternative Financing Programs Session 4 _________________________ Marketing Borrower Supports & Measuring Success Patti Lind, Facilitator | 1

  2. Homework . . . • Develop a quick plan to market one borrower support service • Identify • Marketing method(s) • Intended outcome • Cost of implementation of marketing plan | 2

  3. The Challenge . . . Marketing a new line of services can be expensive. What marketing methods will give us the biggest impact and be considerate of our budget? • Marketing methods • Determining who we’re trying to reach • Developing methods that are effective • Weaving new messages into existing marketing plan • Establishing outcome metrics for marketing borrower supports • Participants • Measuring outcomes against portfolio performance | 3

  4. Determining Marketing Methods • Direct marketing methods + Establishing the target audience + Reaching the audience directly + Avoiding marketing pitfalls • Free vs. Effective • Indirect marketing methods + Secondary marketing methods that augment primary methods | 4

  5. Outcome Metrics • Measuring effectiveness is different from counting participants • Understanding size and scope of market • Identifying outlets • Establishing a goal for hitting target audience • Number of outlets for announcing borrower support • Saturation • Goals should include • Short term outcomes • Saturation of available outlets • Number of participants • Specific goal(s) related to type of borrower support | 5

  6. Outcome Metrics, continued . . . • Long term outcomes • Portfolio impact • Number of applications • Increased loan volume • Decreased defaults specific to type of borrower support • Demographic Impact • Drilling Deeper – Drilling Wider • Reaching new populations | 6

  7. Sharing Progress • Type of borrower supports to be implemented • Why? What impacted your decision? • Staffing • Marketing Methods • Measuring Effectiveness | 7

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