Increasing Customer Retention Outside the Inbox and Mailbox
Leveraging match capabilities to work better with borrowers.
Overview
Born out of the acquisition of New Penn Financial by New Residential Investment Corp LLC., NewRez emerged as a financially stronger mortgage lender ready to expand its portfolio through new loan products that open up the potential for a wave of new clients.
Challenge
NewRez’s customer portfolio was growing rapidly, and with 10% of its customer base looking to refinance or move at any given time, retention becomes paramount. That’s why NewRez looked to Quattro to think outside the inbox and mailbox to develop a retention strategy that keeps up with their expanding marketing goals.
Solution
Leveraging Facebook and Google Customer match capabilities, Quattro developed targeted audience segments and customized messaging based on the most relevant offers. The campaign included media/budget planning, creative development, and implementation. Ongoing monitoring of optimization has led to increased leads at lower CPFL.
Results
With search ads averaging 1.59 page placement, leads from the search ads continue to generate the lowest cost per lead of any other retention tactic, resulting in an 80% application rate, and 30% funded loan rate. What’s more, Facebook lead generation campaigns are providing NewRez with consistent, cost-effective, and qualified refinance or purchase retention opportunities.
