Some interesting pieces of information came out of Foothill Ranch-based loanDepot Inc.’s initial public offering filing on how the tech-backed residential mortgage platform’s marketed over the past 11 years to get where it’s at now.
Where it’s at now would be a pending IPO, sales of more than $3 billion in the first nine months of 2020, and a workforce topping 10,000.
It appears the marketing strategy is a blend of traditional channels, such as television, where it launched in May a “Home Means Everything” campaign that earned it more than 3.5 billion impressions through Oct. 31, according to the company’s filing with the Securities and Exchange Commission.
That’s combined with social and digital, leveraging big data and analytics in a strategy the company said helps “not only drive new customer acquisition, but also maximizes retention” by keeping existing customers engaged via refinancing and purchases.
The loanDepot website saw 1.5 million visits in October alone, with a brand “supported by our innovative, data science-based approach to marketing and customer acquisition,” the company said.
The aggregate has helped tamp down customer acquisition costs.
The company reported a 52% reduction in those costs to an average of $767 per loan in the quarter ended Sept. 30. For the nine months through Sept. 30.
LoanDepot, in total, said it’s spent more than $1.2 billion in marketing since its founding with a database that now counts more than 38 million consumer leads.
