With the IPO in its rear-view mirror, LendingClub needs to look strategically ahead to find ways to increase its loan portfolio. According to a BTIG report, a pretty efficient - though costly - way to move beyond its subprime lender base is to advertise during this year's Super Bowl.
After raising $86 million in a successful initial public offering, LendingClub, the largest peer-to-peer lender, should spend some money and buy a Super Bowl ad, says a BTIG Research report. But LendingClub needs to get its act together and quickly, say BTIG report authors Mark Palmer and Giuliano Bologna, because the Super Bowl ads are already 95 percent sold out. The Super Bowl is an unusual American cultural event that galvanizes a large percentage of the population. Last year the American football championship, broadcast on the Fox television network, drew a record 111.5 million viewers. What is unique about the game is that a large percentage of viewers tune in only to watch the commercials, providing an opportunity to create a buzz and lasting staying power for a creatively developed message.