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Borrower Support Services for Alternative Financing Programs Session 4 _________________________ Marketing Borrower Supports & Measuring Success Patti Lind, Facilitator. | 1. Homework . . . Develop a quick plan to market one borrower support service

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  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 we’re 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

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