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Seasonally, it is always a good marketing idea to promote new equity line/loan accounts to existing customers who don’t currently have one. The key is targeting homeowners who are likely to open an account. WordCom’s MicroModel approach uses data from existing customers that have an equity line/loan and builds a profile of them by appending… Read more
Targeting the customers for a HELOC activation promotion is relatively easy. A simple query of a bank’s customer database will yield not only existing HELOC customers, but also balance and credit line limits as well. Understanding the amount of money available and communicating that information to customers is the secret to driving line usage. A… Read more
When spring, summer, and fall approach, many customers begin to plan home improvement projects for the next season. Traditionally, springtime has meant a spike in equity loans and lines of credit that homeowners use to finance improvements. Summer usually means time for family vacations, and the fall frequently brings the need for college tuition payments…. Read more