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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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