What was the problem they were facing?
Freedom Finance were strongly associated with the negativity of payday lenders. Their identity and advertising only helped to compound this problem with its look being seen as “too chavvy” and TV advertising being “too busy and confusing”.
Freedom Finance are a credit broker offering access to a wide range of loan providers at very competitive APR rates. This wasn’t clear to consumers. Instead, they were seen as a loan provider in the Wonga mould.
How we worked with Freedom Finance.
Qualitative research was conducted and this highlighted the brand image deficiencies and advertising confusion.
We agreed that Freedom Finance should pursue a position of 'loan broker - doing the loan search work for you so you don’t have to'. From this, new positioning creative routes were developed delivering new branding, visual identities and TV commercial options.
From the options workshop, one route was chosen and developed in more detail.
A new visual metaphor epitomising freedom and that Freedom Finance take the hard work out of finding a loan.
A logo that symbolised freedom and the circular search journey undertaken on behalf of a customer.
A visual identity that gave a much more established look, and finally a new, more confident TV commercial that was gentle, supportive, reassuring, and dare we say, trustworthy. The very antithesis of pay-day loan land.
The identity was carried through all other customer touchpoints from website, brochures, application packs, to social media tags and all stationery and presentation templates.
In line with this a revised colour palette, image bank and iconography were created and applied across all collateral.
Anecdotal feedback from loan partners was very positive. Freedom Finance looked more like a serious player. This was very important as recruiting new loan partners to their lender panel is a continuous process.
The new TV commercial was aired in November 2015 and continues to be on air every month at the same weight as 2014 with the exception of a January media upweight. Web visits were up 90% yr on yr with brand search up 111% and these figures have continued to build ahead of the previous year.
Jan to May 2016 “loan applications started” are now up 50% yr on yr and “loan completions” are also up 50% yr on yr.
Within this, homeowner loan applications are up 40% and tenant applications are up 65% year on year.
The advertising effect continues to build with carry over effect continuing in none advertising weeks.
The only real variable in the mix was the new identity, positioning and particularly new TV. Clearly, we are seeing the benefits of this new work.
"This agency is passionate about delivering the client brief and vision, they constantly go above and beyond and the attention to detail is phenomenal. They are very engaging and have lots of exciting fresh ideas. The result was way beyond my expectations and my team were presented with a fantastic design which delivered across every single aspect of the brief within the given timescales and on budget. I have no doubt that Conch will now be my first port of call for all future projects within their field. They listen and communicate extremely well and completely involved themselves in our business, which can be somewhat rare in today's fast paced business world. I would highly recommend this agency, it's a pleasure to work with them".
Alison Houghton-Corfield - Freedom Finance