Small Lender Tries Direct Mail
Equities First Holdings LLC wanted to persuade financial advisory firms to offer its new consumer borrowing plan. The question was how to get the word out.
The answer? Direct mail.
Recently the Indianapolis-based lender, which previously had marketed through personal sales calls and networking, sent 700 pieces to financial companies in its home state and another 2,500 to similar businesses in Illinois. It hoped to generate awareness and leads for a program that lends consumers money using their stock and securities portfolios as collateral, according to marketing director Julie LaPoint.
The firm chose direct mail because, LaPoint says, “we didn’t get a lot of positive feedback” about using e-mail. Company founder and president Al Christy Jr. also felt mail would make a better impression among potential clients.
Equities First rented a list of small financial advisory firms in the two states for the campaign. LaPoint believes “[prospects] with an entrepreneurial spirit will be more receptive to the products we have.”
The mailings targeted owners,C-level executives and registered agents. About two weeks after they went out, Equities First hired telemarketing company EAS LeadGen to set up appointments with recipients.
While there’s no time limit on the campaign, the company is hoping it does well enough so it can be tried in larger markets like New York.
