Novation Capital
TARGET AUDIENCE: Individuals in long-term structured settlement annuities who wanted or needed immediate access to their money.
THE MARKET: In 2002, new legislation made it possible, with court approval, for consumers to access their structured settlement funds immediately, and for qualified companies to “buy” consumers’ future payment streams.
THE CLIENT: Novation Capital was founded by Robin Shapiro, who was instrumental in developing the legislative process that governs this industry. Novation had established itself through use of lead generation tools that included the internet, search engine optimization, direct mail, and outbound telemarketing.
COMPETITIVE LANDSCAPE: After the legislative changes in 2002, two large companies jumped in with massive television budgets: J.G. Wentworth and Peachtree Funding, quickly followed by dozens of secondary players.
THE CHALLENGE: Morris Creative Group was brought on board to develop a series of TV commercials, in English and Spanish. Our approach, which differed from the competitions’, used the actual testimonials of real people (portrayed on camera by actors) and an approachable narrator/spokesperson. The spots were rolled out in limited markets, then aired in emerging markets (based on inquiries), followed by national buys on NBC, CBS and syndicated programs from Sony and Warner Brothers. Morris also handled the logistical demands of direct response that utilized different phone numbers for every station and daypart. In February 2007 alone, we produced 485 different versions of the commercials, in a very cost-effective manner. Morris also developed DVDs, to help consumers understand their options and build goodwill for Novation.
RESULTS: Novation Capital went from minor player in this huge market to becoming the number three player, with an average revenue increase of 200%. The television campaign is working perfectly. And both J.G. Wentworth and Peachtree Funding are now airing variations of the Novation campaign developed by Morris Creative Group.
POST SCRIPT: For Novation’s sister company, Encore Funding, MCG developed a video that has been awarded a major national award in the financial services category (WebAward™ from the Web Marketing Association).
We have worked with Morris Creative Group for almost 3 years now. During that time, I can say that, in round numbers, our revenues have increased at least 200% across the board. Some of our markets indicate 300% increases. This is directly attributable to the television spots that Morris Creative Group has produced for us.
