E-Loan (EELN) on marketing and the online loan market (quotes from the conf call)

E-Loan founder Chris Larsen and CEO Mark Lefanowicz discussed their company's marketing strategy and the outlook for the online loan market. Here's what they said:

...our marketing team has done a much better job measuring the results of our specific campaigns, allowing us to respond more quickly to market changes. Because we like the marketing results we are seeing, we will be increasing our marketing spend in 2005, and launching a major new advertising campaign beginning next quarter.

In early 2005, we engaged Bill Holiday as our media purchaser and Berkley as our advertising agency to continue to improve the effectiveness of our marketing. These companies have worked with well-known brands, such as Mercedes and Jet Blue, and are both actively involved in our new ad campaign. We expect the combination of these new resources, our improved marketing analytics, and our new ad campaign, to reduce customer acquisition costs...

According to the NBA, approximately 35 percent of homebuyers use the Internet to apply for a mortgage and according to Jupiter Research, over 75 percent of auto purchasers research information on cars prior to purchasing a vehicle. People using the Internet expect open, honest, and unbiased advice. E-LOAN has built a unique culture to take advantage of the consumer's increased use of the Internet to obtain an auto, home equity, or home purchase loan.

(Quotes are from the CCBN StreetEvents transcript.)

Comments

[bradpitt1111:]

Thanks for the information!! Getting e loans is a good idea for the buyers who don't want to go outside asking for loan!!
I obtained a loan from a reputed e company and it was too easy !! Just Some legal procedures and the loan was passed within days or two!!!

May 13 03:06 AM