CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Satsuma Loans set to shake up financial marketing with new price comparison ads
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Satsuma Loans set to shake up financial marketing with new price comparison ads PDF Print E-mail
Tuesday, 14 April 2015

Satsuma Loans, Provident Financial’s online, short-term loan option, is gearing up to launch a new kind of TV, radio and press advertising campaign that directly compares its prices with its competitors.

With a fresh approach to financial advertising, Satsuma Loans is confidently putting its head above the parapet to show customers the cheapest option for borrowing £100 over three months when compared with equivalent lenders in the market.

In doing so, the non-standard lender hopes to make decisions easier and clearer for customers and also encourage other lenders to follow its lead.

It will use the ads to show that while customers would pay £72.00, £52.87 and £51.40 borrowed with quickquid.co.uk, peachy.co.uk and sunny.co.uk respectively, it would be significantly less with satsumaloans.co.uk at just £40.01 per £100 borrowed.

Satsuma Loans believes by taking a more ‘retail/grocery led’ approach to its advertising, akin to Aldi’s successful price comparison ads, it will help customers easily identify the best short term loan available and so make a more informed decision about the way forward.

The TV adverts are set to go live on Monday 13 April on ITV1, ITV2, ITVBe, E4, Channel 4 and Sky while other press and radio activity will start on Wednesday 15 April in Scotland and London.

Managing director at Satsuma Loans, Mark Stevens explains:  “This retail led approach to advertising will not only benefit the consumer by bringing total transparency, but also the non standard lending sector as a whole, as it will highlight those responsible lenders like ourselves who are confident of their product being the most cost-effective.”

Satsuma Loans prides itself not only on offering the cheapest loans, but also on listening to its customers and quickly acting on feedback. It has also recently updated its lending service to allow customers to choose to repay their loans on a weekly or monthly basis.

Mr Stevens continues:  “Some 60% of our customers get paid monthly so it made sense for us to offer them a monthly repayment option too.  It means we now provide the most flexible product on the market, at great prices.  In addition, there are no hidden surprises because, whichever way customers choose to repay, they’ll never pay more than the amount we agree at the start of the loan.”

Satsuma Loans provides a simple and refreshing alternative to pay day lenders, providing customers with up to £1,000 straight into their bank account, but with the handy option of paying it back in manageable weekly or monthly segments over 13, 26 or 39 weeks.  It also offers a zero-fees guarantee, which means a borrower will never be charged late or default fees, they will only repay what was agreed upfront.

(Source - Satsuma Loans Press Release)  

 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197