When it comes to marketing Home Equity Lines of Credit (HELOCs), WordCom now offers financial institutions a new marketing approach — through the innovative use of new mover data.
How great is the opportunity?
According to SpeedeonData.com, approximately 36 million people move each year — and these movers spend, on average, more than $9,000 within the first three months. What’s more, it’s estimated that movers engage 71 new brands during their transition.
Movers have a lot on their plates initially, but within a few months, they often make home improvement projects a priority. WordCom can immediately identify those who have moved and help you design a campaign to communicate with them 2-4 months after the move — to extend your HELOC offers faster than ever.
Timing is everything
“Research shows that new movers are 5 times more likely to become long-term customers if you reach them first. Reaching new movers first requires quality data.” (Source: SpeedeonData.com)
How it works
By leveraging new mover data, you’ll be able to zero in on prospects based on their move data and your desired geographic footprint — while also screening out renters. And WordCom’s two-stage marketing approach enables you to get your offer out not once but twice, as you can see from this sample HELOC campaign schedule. The offer is sent two months after the move and at the four-month mark:
Your website is also a resource
Through our LeadConnect add-on, we can help you leverage your own website by offering a HELOC to anyone who visits your home equity page — and spends more than a few minutes there.