Lending Club’s Email Marketing Promotes Financial Relief
A financial industry disruptor uses drip email marketing to nurture leads.
Mailer Name: Lending Club
Date Emailed: May 8, 2017
Traditional lending’s reputation for long and cumbersome processes fueled the rise of online lending marketplaces like Lending Club. Headquartered in San Francisco, the company connects investors with borrowers via a web-and mobile-based interface that promotes a better experience for both.
After opting-in, a prospect receives emails that use a variety of tactics to engage them. Some ask the customer to “imagine being debt-free.” Others talk about how much money Lending Club can save them with a loan, or “get their finances in shape.”
This email focuses on getting the borrower to act. “Ready for the next steps, Joe? Your loan invitation's here ” the subject line says.
Having already identified some reasons why they should consider a loan, the headline at the top of the email’s body asks the consumer “Are you ready for relief?” A call to action button invites them to at least “Check your rate.” It clicks through to the website where they can provide some basic information to get a ballpark idea of their borrowing costs.
This section is followed by a short letter. “Have you ever felt like one more bill could make you go crazy?”it begins. Quick response and easy payments are two of the promised benefits that will bring relief.
For any customers who haven’t yet clicked over to see what financing they qualify for, the postscript at bottom makes one last attempt. “See what you qualify for in minutes with no impact to your credit score! “
Connecting the features of your product or service to an emotional benefit can be powerful.