The Problem
Home equity loans are an essential financial product for homeowners, but capturing attention in a competitive market requires a compelling offer and timely promotion. FFCCU aimed to relaunch its home equity loan campaign with measurable objectives, revitalized messaging, and expanded promotional tactics to exceed past performance benchmarks.
The Solution
FFCCU promoted a competitive fixed home equity loan rate of 5.99% APR with a dynamic marketing campaign inspired by nostalgic 1980s rock-and-roll themes. The campaign targeted homeowners aged 35-70 with a creative “Money for (Almost) Nothing” tagline that resonated with the demographic while aligning with the credit union’s brand.
Action Steps
- Developed an engaging 1980s-themed campaign with visuals and messaging tailored to the target audience’s cultural touchpoints.
- Expanded promotion to three months (May-July) and used multi-channel outreach, including in-branch displays, digital banking tools, email, TikTok ads, and paid media campaigns.
- Deployed a $7,800 advertising budget across paid search, social media, digital display ads, and streaming audio to maximize visibility and engagement.
- Engaged prospects with targeted messaging, leveraging data to identify homeowners with equity and first mortgage holders.
Results
- 240 total applications during the 3-month campaign
- $8 million in funded loans
- 108 more applications than the prior year
- 4,634 unique impressions through the mobile app
- 9,728 active users on the Home Equity landing page
