By Kate Maddox
MARKETING CHALLENGE: LaSalle Bank’s Real Estate Capital Markets group, based in Chicago, wanted to reach its broker community with a unique lending program for new Walgreen’s drugstores around the country. LaSalle has a national network of loan originators, who have relationships with brokers for a variety of loans, from commercial buildings to shopping centers. LaSalle was offering special terms on mortgage loans for Walgreen’s owners, including a flat financing fee of $11,000 and 10-year, fixed rate loans. "The goal was to reach out to our broker community and inform them that we are their Walgreen’s lender," said Kelly Sellar, marketing officer for Real Estate Capital Markets at LaSalle Bank, a division of ABN AMRO Bank, based in the Netherlands.
SOLUTION: LaSalle turned to the Savo Group, a Chicago-based developer of sales asset management software, to develop an e-marketing platform for e-mail communications, CRM and other online communications between LaSalle and its broker community. To reach its brokers with the Walgreen’s offer, LaSalle developed an e-mail campaign that went to more than 1,000 brokers. The e-mail was customized so that messages appeared to come directly from LaSalle loan originators. The e-mails contained tombstone-style ads announcing the closings of Walgreen’s loans from different locations around the country, and an offer with the financing terms. "It was simple to read and it had the information they needed to know: That Walgreen’s are popping up all over the place, and LaSalle is their Walgreen’s lender," Sellar said. The e-mails had contact information for the broker’s LaSalle loan originator, but no other call to action.
RESULTS: The campaign was a success, Sellar said. "By the end of this year, we will have funded $100 million in Walgreen’s loans," she said, which she attributes to the e-mail program. "With the e-marketing platform, we have the capability to see how many deals resulted from the campaign," she added. LaSalle loan originators are now using the e-marketing platform, which runs on the company’s intranet, to download sales presentations from the field, send out their own e-mail blasts and send marketing materials to brokers.