SYDNEY, May 16, 2017
Small business loan specialist OnDeck Australia has kicked off a campaign, #turnthatNOaround, targeted at small business owners who are looking to seize growth opportunities, but are unable to do so due to lack of funding from traditional sources.
The campaign, which is already running on radio, is scheduled to run across outdoor, social (LinkedIn and Facebook) and digital media to encapsulate an integrated multi-channel outreach.
With the #turnthatNOaround campaign, OnDeck aims to reach small business owners who have experienced a “no” from their banks, giving them an opportunity to secure a loan that is much faster than the banks – it takes just one business day.
“Small business owners, which constitute the backbone of Australia’s economy, need regular cash injections to grow, but spend most of their time either applying or waiting for their banks to approve loans. In the end, they are left with no for an answer which means missing out on potential expansion opportunities,” said Cameron Poolman, OnDeck Australia CEO.
“We want small businesses to be able to get on with it”, he said, “eliminating mountains of paperwork and streamlining the application process from 4-6 weeks to one business day, when compared to traditional lenders.
“Our market positioning of helping small businesses triumph in a tough world is resonating with customers and the regular feedback we receive from them helped with the creation of the campaign,” he said.
The ad was launched on the most popular talkback shows in Sydney, Melbourne and Brisbane including 2GB, Sky Sports Radio, Triple M, 3AW and 4BC.
This also marks the first outdoor presence for OnDeck in Australia – including fully wrapped buses, trams and billboards.
“It is a testament to our commitment to Australia as a promising market. The message we aim to give with #turnthatNOaround is simple, yet different – we want to see Australian small businesses getting on with it,” Mr Poolman said.
CASE STUDY: Legends and Heroes
Not many people can say they’ve met Muhammad Ali nearly 30 times. Having spent the past two decades selling sports memorabilia, Allan Morrison, owner of Legends and Heroes in Richmond, Melbourne has brushed shoulders with many famous faces, including Michael Jordan, Chris Judd and countless AFL, NRL and cricket players.
He has grown his business from humble beginnings to running both a physical showroom and online store, selling a wide variety of sport and entertainment souvenirs. He has also expanded into supplying a custom framing service as well as selling an assortment of art.
Need extra capital to diversify – but the bank says ‘no’
“Over the past 20 years, all these high-rise apartments were being built around us, and I thought to myself, what would all these new residents be buying to decorate their new home.”
This savviness led Allan into the art space. “I’d framed a lot of art over my career, so when it came to purchasing some pieces, I had an idea of what I was looking for.”
However, purchasing all this art was expensive, and Allan needed capital to build his art collection.
His immediate reaction was to go to the bank, with whom he’d had a long-standing relationship. Although he soon realised receiving a loan from a big four bank was no easy feat.
“I got there and soon concluded I didn’t have the time to go through the banks lengthy process. There was so much paperwork involved, and just too much information required – I needed a quicker and easier solution.”
Embracing an alternative solution – and getting ‘on’ with it
Soon after Allan’s discouraging bank visit, he received a call from OnDeck.
“It was too easy. I was astonished and amazed at how fast I received the funding, and all I needed to do was answer some questions and send them a few bank statements. A few days later, the money arrived in my account – I couldn’t believe it.
“I was able to take the money and begin purchasing art from all over the world, and it’s been such a hit. The construction workers building the apartments are even coming in to pick up some pieces for their home.
“I’m absolutely thrilled OnDeck has given me the opportunity to indulge in another passion of mine.”