Financial marketplace Lending Tree is overhauling its branding and marketing with a redesigned consumer experience and a new marketing campaign starring actress Molly Shannon.
The revamp aims to position the company as an easy source to find financial saving tools. It comes under new leadership. Marketing veteran Shiv Singh joined the company as chief marketing and customer experience officer in January with the mission to help reconnect American consumers with the brand’s money saving services. Josh Palau joined as SVP, growth marketing to help drive growth.
The new campaign starring Shannon is the first time the 26 year-old brand has tapped a celebrity for its marketing. In the sport, LendingTree delivers the message: “LendingTree makes it easy to win financially.” Shannon makes it seem easy to find a “lenda” with LendingTree.
“Our goal with this campaign is to re-introduce Americans to LendingTree,” said Singh. “LendingTree has built a legacy in online financial services since the brand first launched 24 years ago (to the month), and the company has evolved quite substantially to include essentially every major financial product category from loans and credit cards to insurance. After being fairly quiet on the marketing front for the past few years, it was important for us to come to market with something that would be memorable, could resonate with people, and deliver the message that LendingTree makes finding the right financial products easy – LendingTree brings the ‘lendas’ to Linda and makes it easy to win financially.”
“At a time when Americans are facing such financial uncertainty (83% are feeling the negative effects of inflation), we felt it was important to have a friendly, familiar face deliver the LendingTree message that LendingTree makes it easy to win financially,” he continued. “Molly Shannon is incredibly approachable and likable, and people really feel a connection with her as a person. We couldn’t have dreamed of a better person to play the role of Linda.”
Creative agency Mekanism worked with the brand on the new campaign – the brand’s return to long-form video and television. The effort, which kicks off this week, is running on linear TV and cable. The company will also run the new brand positioning on its display and search channels.
These ads will point consumers to the brand’s newly reimagined homepage, which has been redesigned as a consumer-friendly experience for people looking to improve their personal finances. The redesign touts an updated version of the brand’s 20 year old tagline. The new tagline focuses on consumer success: “When banks compete, you win!”
“We’re on a mission to be the ultimate consumer champion in financial services, and that starts with understanding our customers,” said Singh. “We know that consumers want to feel confident that they’re getting the best options, and want to feel at ease knowing someone is there to help them make the right financial decisions. Our reimagined customer experience is focused on supporting customers throughout their financial journey, with personalized recommendations and actionable guidance. The financial services industry tends to perpetuate the notion that consumers somehow “win” if they are approved for a financial product, but this campaign really draws on the idea that the consumer is the “prize”. We’re hoping to shift that mindset a bit and put the power back into the hands of consumers who can shop and compare between multiple lenders, banks, insurers, to find the best fit for their financial goals. We’re doubling down on LendingTree’s legacy of giving power to consumers, making it easier to win financially.”
The new brand positioning comes out of research conducted by the brand that found that 83% of credit cardholders feel the negative effects of inflation on their monthly budgets and expenses. The research also revealed that 70% of Americans feel a recession is coming and most don’t feel financially prepared. The company also found that by shopping around, consumers could save an average of $63,151 in the lifetime of a mortgage. The rebrand aims to connect consumers with these savings.
“After months of research and listening to consumers to better understand their pain points, LendingTree is delivering more supportive, seamless and holistic customer experience,” said Singh. “We’re viewing every touch point with consumers through a different, more empathetic lens, focusing on delivering a delightful customer experience and becoming a trusted partner to help guide customers throughout their financial lives. This is the first step of many towards becoming the ultimate consumer champion in financial services.”
