The auto loan refinance industry is a sea of sameness filled with offers for lower interest rates and cheaper car payments. But a lot of those competitors don't actually honor the "as low as ____%!" rates they advertise.
These competitors put customers through hassles, hoops and bait-and-switch tactics, leaving people feeling distrustful of auto refinancing as a whole. That's why Capital One only shows customers one number: their real offer. But we weren't leading with this benefit, so it wasn't surprising to me when customer research I led showed us that people didn’t trust our offers either.
To solve this problem, I created a campaign that led with transparency: The Real Rate Guarantee.
The results: email response rates increased by 30% and we had our second-highest funding day over the past two years.