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Leeds & Holbeck focuses on APR in loans drive

LONDON - Leeds & Holbeck Building Society is running a direct mail and sales promotion campaign to promote its personal loans, based around the product's APR, through creative agency Ashley Bolser Agency.

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The drive involves direct mail and in-store point-of-sale including posters, passbook inserts and even "shelf wobblers". The promotional materials carry the lines "It's Low, It's Easy, It's Here".

The decision to focus on the loan's APR is a step away from traditional loan marketing campaigns, which often offer suggestions to consumers about how they could spend their money, like a holiday or a new car.

Ashley Bolser, ABA managing director, said: "Research has shown us that consumers simply don't want to be told what to do with their money. One person's fantasy just isn't the same as another's, and if the objects shown in the creative don't resonate with the audience then the message will be lost. And in this case, a great rate really will speak for itself," he said.

The agency has also selected a group of customers who will not receive the mailer in order to prove the value of direct mail. These customers will only be exposed to the in-store elements of the drive.

Tony Burdin, head of marketing and public relations at Leeds & Holbeck, said: "I was influenced by ABA's detailed and impressive knowledge of the loans market, and also by their creative decision to show the rate as the star, and to do so clearly and simply."

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