Oxford Federal Credit Union Lending Supervisor Deb Brown and Synergent Vice President of Direct Marketing Services Doug McDonald stopped by the Studio Lounge to divulge a pretty cool case study on how Oxford leveraged data mining to vastly increase their auto lending by nearly $800,000.
Here's a quick statistic synopsis of our discussion:
Oxford FCU was able to leverage member data through data mining to increase their auto lending portfolio by $779,026 over the same period in the year prior
The campaign paid for itself in just one month
Of the 1,064 auto loans totaling $18,968,938 signed during the campaign period, 239 auto loans totaling $4,639,695 in new lending could be tied back directly to the targeted lists
1,064 auto loans totaling $18,968,938 in new lending
$779,026 increase in auto lending over the same period last year
239 auto loans tie back directly to the mailing lists totaling $4,639,695 in new lending
6% adoption rate based on 4,039 unique members on the mailing lists throughout the 2016 campaigns
Check out our candid, case study conversation and let us know your thoughts.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.