In the middle of the 1st Quarter of 2008, the US economy was teetering at the brink of what would be later called the Great Recession. But when it started, some thought it could be the next Depression. CoastHills Federal Credit Union asked Data Based Marketing to “pull out all the stops” for a vehicle loan promotion scheduled from April to July 2008. The Credit Union’s offer was a base interest rate of 3.99% for any vehicle, new or used, purchase or refinance.
Data Based Marketing completed a comprehensive marketing plan, specifically for this project. A drive-in theatre movie metaphor was selected to quickly convey the concept of “all wheels”. A comprehensive mix of TV, outdoor, radio, direct mail, digital and branch point-of-sale was created. The TV ad used an ad-within-an-ad concept, with the viewers of the drive-in movie watching the offer. A black and white ‘50’s era “movie” was created to both coordinate with a separate 50th Anniversary project and better reach the older demographic that provides the bulk of the Credit Union’s loans. A Deals for All Wheels movie theatre sign shown in the television was reproduced on all other channels to generate recall.
The goal was about $10 million. But the combination of a diverse communication mix with aggressive frequency and a client who had motivated and supported their staff to quickly fulfill on the inquiries created $110 million of new business in just four months. This result was judged to be the single largest promotion result in the credit union industry that year and it resulted in Best of Show awards from two separate national organizations.