Borrower Support Services for Alternative Financing Programs

1
Borrower Support Services for Alternative
Financing Programs Session 4 _____________________
____ Marketing Borrower Supports Measuring
Success Patti Lind, Facilitator
1
2
Homework . . .

• Develop a quick plan to market one borrower
  support service
• Identify
• Marketing method(s)
• Intended outcome
• Cost of implementation of marketing plan

2
3
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 were 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

3
4
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

4
5
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

5
6
Outcome Metrics, continued . . .

• Long term outcomes
• Portfolio impact
• Number of applications
• Increased loan volume
• Decreased defaults specific to type of borrower
  support
• Demographic Impact
• Drilling Deeper Drilling Wider
• Reaching new populations

6
7
Sharing Progress

• Type of borrower supports to be implemented
• Why? What impacted your decision?
• Staffing
• Marketing Methods
• Measuring Effectiveness

7