Instead of selling product and service benefits, solve customer problems.
A well-known commercial finance lender decided to enter a new market in which they were unknown. The challenge was to build awareness and be considered by small business owners.
Develop an integrated marketing and promotions campaign that:
- Focused on why a small business owner needed financing instead of banking product and service jargon
- Introduced the lenders’ 80-year history with over 400,000 small businesses to build trust and credibility
We created a series of direct mailers with a response card and leave-behind materials for salespeople. Here are some examples of how we described the products and services offered in terms of how a small business owner would use the funds:
- Commercial Real Estate Purchases [Commercial Real Estate Loan]
- Machinery or Equipment Financing [Leasing]
- Debt Refinancing [Long-Term Debt]
- Working Capital [Line of Credit]
This approach yielded an initial 2% response rate. More importantly, small business owners kept the materials handy and when they had a financial need up to a year later, they gave us a call.