Tranzact Information Services (Tranzact IS) has announced the launch of Loyalty Assurance, a new program designed to help lenders achieve dramatic improvements in customer retention rates. “Retention is the new acquisition,” said Ben Waldshan, president of Tranzact IS. “Faced with rising acquisition costs in a soft economy, many lenders are refocusing their marketing efforts on customer retention. We believe we offer one of the most cost-effective methods of retaining customers.”
Tranzact IS’ Loyalty Assurance program leverages credit inquiries to help lenders identify customers who are actively shopping for a mortgage loan.
“The biggest challenge with traditional customer retention programs is their inability to determine the exact moment a customer re-enters the market,” said Waldshan. “Our Loyalty Assurance program can provide lenders with this marketing intelligence within 24 hours.”
This program offers lenders access to technology that cross-references their customer database with credit activity on a daily basis.
“Loyalty Assurance allows lenders to reach customers at the very moment they are considering a competitive offer, giving them the unique ability to ‘save the customer’ before they are lost to a competitor,” said Waldshan.
Many of Tranzact IS’ customers have already achieved tremendous success with the program. “The ROI on our Loyalty Assurance program has been incredible,” said Waldshan. “The cost per customer retained can be as little as $100. The cost of acquiring a new customer can be five to ten times that much.”
Tranzact IS offers a free white paper outlining the benefits of the Loyalty Assurance program.
For more information, visit www.tranzactis.com.