and Crowd to Launch
a DTC Brand
return on ad spend
million in sales
more loan applications than goal
more loans fulfilled than goal
Turning to DRUM for help, Lendly empowered us to craft the go-to-market strategy, forecast the required investment and return, create the advertising content, develop the technological infrastructure necessary to attribute loans fulfilled back to marketing efforts, implement the Salesforce Marketing Cloud, and finally, plan and launch all of the media.
Through an advanced social strategy, DRUM diagnosed, reached and converted thousands of customers immediately, despite the handicap of extremely restrictive targeting parameters — consisting of no more than a dozen companies in any given state, of which we could only roll out one at a time. We began by creating highly personalized messaging crafted around a number of demographic, psychographic and firmographic attributes, delivered through social and programmatic advertising. This approach allowed us to triangulate employer, location and dwell time, as well as credit score range, age, gender and HHI to determine who best to reach and how best to reach them — be it through direct response creative with a firm CTA, or through a branding video that creates trust.
In order to identify what incentivized conversion (versus what prevented it), we created funnel reports by state and by company, thus enabling rapid-fire refinement of both our media targeting and onsite experiences. We also used this intel to refine our dynamic creative deployment to tailor messaging to each prospect. Perhaps best of all, we created a lead scoring algorithm that coalesced user-specific and company-specific data points to understand not only the prospects themselves, but also the companies that were fertile for program expansion.
Now that Lendly has fulfilled well over $100 million in loans and recently expanded their presence to a tenth state, we are evolving our relationship from launch partner to growth partner. DRUM has also layered on a successful direct mail program to help with acquisition, an email/eCRM program focused on conversion and retention, and an ambassador program that has reduced the media investment necessary to continue scaling loan volume.