When SunTrust Bank decided it was time to create a new education loan product they called SKM Group to launch it. This new private education loan product would compete in an already crowded playing field. However, it would be the first SunTrust branded product to directly address this need. The product was a solid competitor with a unique principal-reduction offer that helped it to stand out in the crowd.

This new product needed a catchy and memorable name, along with a campaign that would make it stand out among the already well-courted world of financial aid officers (FAO’s). FAO’s were accustomed to receiving premiums and incentives to get their attention, and this set up the conundrum of needing to both match the expected incentive to get their attention, yet somehow make the product the hero. The product needed to be presented in a way that would impress the FAO’s and yet be a robust offering for their students. Furthermore, the SunTrust sales team needed to realize the value of this product and be excited and eager to make it a priority in their sales calls. Most were already confident in the product offerings they had and some were even skeptical that a new product would be able to compete.

First, SKM proposed the name Academic Answer Loan, designed to be intuitive and appear near the top of an alphabetical list. Then the campaign took shape.

To generate excitement among the sales team, a three-dimensional package was sent to each of the sales reps to get them geared up for an annual sales meeting where they were being introduced to the new product. Our package—a director’s chair with the tagline saying, “Pull up a chair and discover the answer” generated a lot of excitement. Even the most skeptical began to see the opportunities ahead of them.

When it was time to launch, a teaser mailing was sent to all prospects introducing the product with the envelope that read, “When your students have questions, SunTrust Bank has the answer.” Using an unusual 8” x 8” square envelope with a full bleed in the SunTrust orange, it immediately stood out in the mail. The interest began to build immediately with phone calls to the SunTrust sales reps asking for more information.

A second mailing went out a few weeks later. Pulling the top prospects out, we designed an oversized, three-dimensional mailer to these tier-1 names. This mailing was a SunTrust and Academic Answer Loan branded director’s chair with the tagline, “Can I pull up a chair and take five minutes of your time?”, accompanied with a personalized (digitized) hangtag promising that this was such big news, they should have a seat before reading all the benefits. It went on to provide product highlights and individualized sales rep contact information, and the stage was set for success.

Tier-2 names were also identified and in their second mailing they received a ten-minute phone card, encouraging them to “give me a call.” The envelope tagline was “…an exciting, new answer to an important question.”

The third mailing, dropping three months later (to time with the beginning of the winter semester), continued to build the excitement: a CD mailing with the first three of six podcasts to which FAO’s could direct their students to help educate them on the ins and outs of financial aid. The podcasts brought SunTrust to the forefront of the competition, leading the way by using this new technology to deliver information to their customers and prospects. The SKM Group was pleased to write and produce these informational spots, designed to provide overall educational information, with just a nod to SunTrust and the Academic Answer Loan. This continued the campaign message that “When your student’s have questions, SunTrust has the answer.”

Even the most skeptical sales person was impressed and excited to promote the new Academic Answer Loan. Immediately, schools began signing up SunTrust as a preferred lender and loans were funded much sooner than expected. Although response rates remain confidential, forecasted results were exceeded beyond anyone’s greatest hopes.