Top 4 Best Practices For Consumer Finance Campaigns by Jared Klein, VP of Advertiser Partnerships, Digital Media Solutions, January 24, 2023 While consumer finance solutions like refinancing, personal loans, and debt consolidation are always a need for many consumers, the conclusion of the holiday season can present a unique opportunity for consumer finance brands to gain the attention of consumers who may be nursing some holiday debt. This, combined with New Year’s Resolution financial goals many consumers set, means that Q1 is often the best time of year to acquire new customers for these financial services. Setting up consumer finance campaigns for success requires being well-prepared to launch, which includes establishing an appropriate management infrastructure, being informed about your ideal consumer, and meeting compliance guidelines. Once a campaign is launched, the focus then turns to optimization by tracking leads, nurturing prospects, closing deals, and making adjustments as campaign data reveals itself. Optimizing Your Consumer Finance Campaigns To Capitalize On Consumer Needs The key to launching and managing your consumer finance campaigns successfully can be found in the following four best practices. Identify KPIs And Your Overall Goal Setting For Short And Long Term Campaign Strategies Identify your campaign objectives and the KPIs (key performance indicators) that will be tracked and measured throughout your consumer finance campaign. What is your single most important metric for measuring cost-effectiveness? What are those driver metrics from which the ultimate KPI can be forecasted? From the very beginning, be clear about campaign goals and how success will be measured upfront. Core KPIs should be drivers of your success and your ability to scale your business. Additionally, it’s important to lean into the data coming in from your campaigns and update KPIs accordingly. The objective should be to measure your revenue against your media expenditure. Confirm Your Call Center Can Handle Volume Consumer finance campaigns can include both inbound and outbound calls, so it’s important to make sure your call center can handle the volume, along with clearly understanding traffic sources and the corresponding consumer behavior tropes. The keys to success for an inbound campaign include having enough sales agents, prepared scripts and objection training, a call tracking system that includes conversions and dispositions, and proper management of leads per agent. For outbound campaigns, a consumer finance brand needs telemarketers, outbound scripts and objection/rebuttal training, predictive dialers, and compliant targeting data. A successful call campaign is only as good as its call centers. Make sure yours is hitting all the checkpoints before kicking off a multichannel campaign. Verify Your Compliance Structure Is In Place In addition to consumer finance-specific regulations, make sure your campaigns comply with regulations like TCPA by obtaining express written consent to contact consumers by phone or text. For email campaigns, compliance with CAN-SPAM is a must. Have clear brand guidelines for creative pieces and content. Consider using a third party to help track and produce proof of compliance if needed. Because DMS understands the importance of upholding brand standards, we invest heavily in proprietary and third-party monitoring tools. Our industry-leading compliance processes are supported by in-house legal and compliance teams without additional fees. Focus On Creative, Optimizations, And Outreach Across Channels Multichannel campaigns ranging from SMS to social media and email can help you reach your target audience, but implementing the right messaging to the right customer at the right time is essential. “Consumers with different credit scores and different borrowing needs, whether it’s credit cards, personal loans or debt consolidations, will need to be targeted appropriately, with the right specifics in messaging and calls to action (CTAs),” explained Brian Fitzmaurice, DMS Senior Account Executive. Consumer finance advertising strategies should promote simple and direct CTAs, imparting urgency to drive consumers to landing pages where they can request more information. To scale personal loan application volume, brands need to leverage multichannel digital advertising strategies that place messaging where high-intent audiences are spending their time, and consumer finance brands should adjust their messaging to align with seasonal interests like holidays, post-holiday needs, or tax season. Are You A Publisher Looking To Drive Inbound Calls? With significant experience in the pay-per-call industry, Digital Media Solutions (DMS) understands the value each publisher brings to our network and the advertisers the network supports. We offer multiple custom pay-per-call solutions, including consumer-generated calls, warm transfers, search-generated click-to-call, and SMS-generated calls. DMS boasts one of the most extensive offer sets in the industry, and we strive to provide unparalleled benefits and service to our publisher partners. Discover the benefits of working with one of the broadest publisher call networks in the industry. Signing up is simple! Click here to apply to join our industry-leading network today. Seeking New Ways To Maximize Your Customer Acquisition Efforts? Digital Media Solutions is ready to help you find new digital performance advertising solutions to scale success. DMS creates people-based advertising campaigns, leveraging our first-party data asset, proprietary technology, and expansive media reach to define and engage highly targeted audiences, attracting the consumers with the greatest likelihood to convert. Contact DMS to learn how we can connect you with consumers that need your personal finance solutions right now. Author Bio Jared Klein is Vice President of Advertiser Partnerships at Digital Media Solutions (DMS). Jared began his advertising career in 2003 on terrestrial radio before entering the online space in 2005. He joined Hydra, an advertising services company, in 2007, working with advertisers, before joining W4 upon its launch in 2009. Jared joined DMS in 2018 with the acquisition of W4 by DMS. Filed under: Blue Book, Featured Tagged under: DMS About the Author Jared Klein, VP of Advertiser Partnerships, Digital Media Solutions Jared Klein is Vice President of Advertiser Partnerships at DMS. He began his advertising career in 2003 in terrestrial radio before entering the online space in 2005. He joined Hydra, an advertising services company, in 2007, working with advertisers, before joining W4 upon its launch. Jared joined DMS in 2018 with the acquisition of W4 by DMS. As VP of Advertiser Partnerships, Jared helps lead the strategic development and management of key client relationships, driving revenue growth and fostering collaboration between our performance advertising solutions and advertisers to maximize campaign effectiveness and ROI.