ITA (Invitation to Apply) campaigns can be a cost-effective way to acquire new borrowers—but only if structured and optimized correctly. Lenders often abandon ITA programs too early due to low response rates, data quality issues, and unclear measurement of success.
Here’s a checklist for ITA programs designed for long-term success, not just a short-term test.
Are we working with the right data vendor(s)?
- Are we sourcing ITA lists from multiple vendors to test quality?
- Are we verifying how each vendor sources their data?
- Are we requesting sample records to evaluate data completeness before purchase?
Are we accounting for missing or inaccurate borrower data?
- Are we identifying gaps in key variables (income, LTV, rate, property type)?
- Are we supplementing ITA data with third-party property and income verification sources?
- Are we excluding records with incomplete or unreliable data?
Are we structuring list selection to maximize response rates?
- Are we segmenting lists based on rate sensitivity and loan balance?
- Are we testing different list criteria rather than relying on a single dataset?
- Are we refining list selection based on past response trends?
Are we tracking list performance over multiple campaigns?
- Are we analyzing response rates by vendor, segment, and geography?
- Are we adjusting list selection criteria based on actual application rates?
- Are we running re-engagement campaigns for non-responders?
Are we properly testing modeled ITA lists based on propensity scores?
- Are we comparing propensity-modeled lists against standard bureau-sourced triggers?
- Are we tracking incremental response lift from modeled data?
- Are we validating the accuracy of propensity scoring over multiple campaigns?
Are we setting realistic expectations for response rates?
- Are we using historical benchmarks to set goals?
- Are we adjusting performance metrics based on loan type and borrower profile?
- Are we tracking cost per funded loan (CPFL) instead of just response rate?
Are we optimizing our direct mail creative and messaging?
- Are we using personalized loan offers instead of generic “You May Qualify” messaging?
- Are we A/B testing different CTAs and offer structures?
- Are we making it clear how borrowers can easily apply (QR codes, short URLs, personalized landing pages)?
Are we running multi-touch follow-ups for non-responders?
- Are we using retargeting ads to reach borrowers who didn’t respond?
- Are we layering in call center outreach for high-value segments?
- Are we tracking engagement across multiple mail cycles instead of single drops?
Are we measuring real business impact, not just response rates?
- Are we tracking conversion rates beyond initial inquiries?
- Are we calculating the total cost per funded loan (list cost + mail costs + fulfillment)?
- Are we analyzing how retained ITA borrowers compare to other acquisition sources?
Are we refining our strategy instead of abandoning ITA too soon?
- Are we iterating based on real campaign learnings rather than giving up after a few lists?
- Are we building a structured testing framework instead of treating ITA as a one-off experiment?
- Are we incorporating ITA into a broader direct mail strategy rather than running standalone campaigns?
Final Thought:
ITA programs rarely succeed on the first attempt—success comes from testing, refining list selection, optimizing creative, and layering multi-touch follow-ups.
Use this checklist for ITA strategy session to ensure your campaigns are built for long-term, measurable success.