The Storied Fintech Company Debuts New Suite
of Tools to Help People Win Financially
CHARLOTTE, N.C., July 12,
2022 /PRNewswire/ -- Doubling down on its legacy of
empowering consumers to make smarter, more informed financial
decisions, LendingTree, the largest, most experienced financial
marketplace for loans, credit cards and insurance, today announced
a new commitment to a completely reimagined customer experience for
anyone actively involved in improving their personal finances. To
support the new experience and re-introduce the LendingTree brand
to American consumers, the company is launching an omni-channel
marketing campaign, refreshing the brand's ubiquitous tagline that
was originally inspired by the words of a customer over two decades
ago: "When banks compete, you win!" The new tagline is now updated
to better reflect the full suite of financial services offered
through the expanded marketplace, but keeps the emphasis on giving
consumers the power to win financially.
Having facilitated $260 billion in
loan funding and helped more than 111 million customers obtain
financing, save money and improve their financial health,
LendingTree has been a pioneer in online financial services since
the company served its first customer in July 1998, almost exactly 24 years ago. The new
brand positioning and redesigned experience comes after months of
extensive research and listening to tens of thousands of consumers
about their experiences to better understand and address the
financial needs of Americans today. According to LendingTree
research, 83% of credit cardholders are feeling the negative
effects of inflation on their monthly budgets and expenses, forcing
many to rely on financing to make ends meet. Nationally, rising
APRs are causing new mortgage payments to increase by an average of
over $250 per month, or more than
$100,000 in interest over the
lifetime of the loans. In a new survey by LendingTree, 70% of
Americans believe a recession is looming, yet more than two-thirds
(68%) of Americans don't feel financially prepared for one.
However, it's not all bad news. LendingTree also found that
shopping around for a mortgage and choosing the lowest offer could
save borrowers an average of $63,151
over the lifetime of the loan, as offered interest rates can vary
greatly by lender – even more so in a rising rate environment. A
separate analysis found that using a personal loan to pay down
credit card debt can boost one's credit score substantially - an
average of 38 points between the month before the loan was
originated and when it first appeared on their credit report.
"In this new post-pandemic environment of inflation and economic
uncertainty, making smart financial decisions has become
increasingly complex. Through our research, we know people are
facing unprecedented anxiety about their money and want guidance
from established brands they can trust, which is why LendingTree is
recommitting to its brand promise," said Shiv Singh, LendingTree
Chief Marketing and Customer Experience Officer. "Consumers aren't
simply looking for a loan, new insurance policy or a savings
account — they want a trusted, dependable advisor who is
there from start to finish, empowering them with the right advice,
the right tools and the right resources needed to make financially
sound decisions in every stage of their life."
The enhanced customer experience sets up customers for financial
success through:
- Redesigned homepage: The website's all-new homepage
places rates at the forefront and makes it easier to see
LendingTree's product offerings, while also emphasizing the
hundreds of guides and expertise published by the company's trusted
editorial team.
- Tailor-made journey: Using real-time customer feedback
within the experience helps to customize the journey based on
customer needs. Featuring easily digestible language centered
around transparency, educational content and support throughout the
journey, the new customer experience highlights offers based on
needs and presents the information that is most relevant to the
user in easily digestible formats.
- All-new Insurance Check-up: LendingTree is offering all
Americans free Insurance Check-Ups to ensure they have the best
rates and policies available during this tougher economic
environment, as part of LendingTree's commitment to being the
ultimate consumer champion. Homeowners can simply call
1-800-555-TREE to see if there are opportunities to save on
insurance based on real-time market data.
- Humanized approach to building customer relationships:
With all-new customer journey segmentation and personalized email
communication strategies, LendingTree can remain alongside
customers even after they hit "submit" on their loan request by
offering continued support throughout the process.
- Monthly Newsletter, The Vine: LendingTree is launching
The Vine, a monthly newsletter with expert advice, guides and
proprietary reports to make sense of the news that affects your
wallet.
"I started LendingTree because I wanted to create a simple way
to shop and compare financing options based on my needs," said
Doug Lebda, LendingTree founder and
CEO. "Over the past two decades, we've significantly expanded our
product offerings to cover nearly every consumer finance category
from loans to credit cards to insurance. The personal finance
industry has evolved as well, bringing consumers more options, and
in many cases, more confusion. LendingTree is committed to making
it easy to win financially by offering more support to our
customers through all stages of their financial lives. We're
executing on our strategic plan we shared earlier this year. The
new experience and new brand direction, supported by an all-new
campaign ushers in a new era for LendingTree and are the
transformative first steps in a multi-year journey of becoming the
ultimate consumer champion in financial services."
Kicking off a new era for the brand, LendingTree has launched an
all-new, omni-channel marketing campaign featuring award-winning
comedic actress, "Saturday Night Live" alum, and best-selling
author, Molly Shannon. In
collaboration with Mekanism, the award-winning creative agency that
intersects technology, design, culture, and brand stories, the
campaign leverages Shannon's comedic genius to deliver a simple
message: LendingTree makes it easy to win financially.
Watch the new ad campaign here or here,
About LendingTree, Inc.
LendingTree (NASDAQ: TREE) is the nation's largest, most
experienced online marketplace, created to give power to consumers
so more people can win financially. LendingTree provides
consumers with easy access to the best offers on home loans,
personal loans, credit cards, student loans, business loans, home
equity loans/lines of credit, auto loans and more, through its
network of over 700 partners. Founded in 1996 and launched
nationally in 1998, LendingTree has helped over 111 million
customers obtain financing, save money, and improve their financial
and credit health with transparency, education and support
throughout their financial journey.
LendingTree, Inc. is headquartered in Charlotte, NC. For more information, please
visit www.lendingtree.com
MEDIA CONTACT:
Megan Greuling
megan@lendingtreenews.com
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SOURCE LendingTree, Inc.