Challenge:Establish a point of difference for Koster’s Cash Loans in an increasingly competitive marketplace. Drive new customer loans through 23 Koster’s locations in Las Vegas, when customers frequently have to pass a Money Tree or Check City location to get to Koster’s. Develop a look and feel for Koster’s and begin to create brand awareness.
Solution: Developed and implemented a logo that could help establish brand awareness. Launched a TV campaign that focused on the treatment customers receive at Kosters – empathy, respect, and courtesy – some that is lacking in most of the other competitors. All advertising emphasized three unique benefits of Kosters: no application fee, interest paid only on days the loan is out, no checking account is needed. Direct mail was used to drive interest in special promotions. A website was created to provide money management tips, information on how to obtain a loan, and store location information.
Results: Since the campaign launched, new loan acquisitions have increased every month. Research indicates that new customers select Koster’s because they are “friendly”, “understanding”, “less complicated”, and “a better deal” than the competition – all signs that the advertising message is heard and understood.
