The Bancaso Story

Product: Loan Referral Service
Launched as a test in Los Angeles.

Key Issues:

• Highly competitive environment: payday loans, quick loans, loans against your car, etc.
• Inherited spokesperson and commercial
• Low initial loan: $500

Specific Actions:

• Reviewed call-center script to improve the processing flow and avoid early hang ups
• Worked with call center to improve caller experience
• Worked with client to increase loan amounts and make the product more attractive
• Redid the TV commercial, adding stronger calls to action, supers and titles
• Redid radio scrips adding stronger calls to actions and mnemonic devices (1-2-3)
• Added filters to TV and Radio spots to cut down unqualified calls

Results:

• Conversion ratios improved from 2.6% initially to over 15% in 12 weeks with two advertising flights
• Cost/call decreased significantly

Creative

Initial TV spot

Revision #1 - Added filters, titles

Revision #2 - Filters, titles, higher loan amount