| 1 Borrower Support Services for Alternative Financing Programs Session 4 _________________________...
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Transcript of | 1 Borrower Support Services for Alternative Financing Programs Session 4 _________________________...
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Borrower Support Services for Alternative Financing
Programs
Session 4_________________________
Marketing Borrower Supports & Measuring Success
Patti Lind, Facilitator
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Homework . . .
Develop a quick plan to market one borrower support service
• IdentifyMarketing method(s)Intended outcomeCost of implementation of marketing plan
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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
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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
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
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Outcome Metrics, continued . . .
Long term outcomes• Portfolio impact
Number of applicationsIncreased loan volumeDecreased defaults specific to type of
borrower support
• Demographic ImpactDrilling Deeper – Drilling WiderReaching new populations
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Sharing Progress
• Type of borrower supports to be implemented–Why? What impacted your decision?
• Staffing• Marketing Methods• Measuring Effectiveness
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