Borrowell is a fintech helping individuals achieve financial wellness through credit monitoring and personalized financial tools.

Credit Builder, a new product designed to help users improve their credit scores, is launching but faces challenges with 3/5 applicants struggling to understand how it works. User research highlights gaps in education and awareness, with increased Help Centre visits and stagnant product conversions outlining the need for a marketing campaign to clarify its value, educate users and drive engagement.

Credit Builder is a confusing product for members. User research revealed that 3/5 applicants didn’t fully understand it. I pitched an explainer video to clarify the product. The conversion rate increased when the video was added to the app, so we integrated it into the marketing campaign.

• Used emails to create hype within the current user base to test messaging, resulting in a 48% open rate.
• Focus on: Announcing new product, value propositions and benefits.
• Traffic was also driven to the explainer video, as it communicated how it worked more effectively.
  

For this campaign, we used illustrations in emails and lifestyle imagery in performance marketing based on our previous findings. Illustrations have consistently driven higher engagement rates in emails due to their visual appeal and ability to convey complex messages effectively. In contrast, lifestyle imagery has shown greater success in performance marketing, resonating well with target audiences and boosting conversion rates. By following this strategy, we aimed to optimize both engagement and conversions for the campaign.

• Explainer videos can make a notable difference in terms of metrics and user comprehension.
• Determine if there are any quick wins to start testing and shipping sooner, such as an MVP design.
• Increase delivery speed and maintain visual consistency by repurposing graphics for different channels within the campaign.