Approach

Traditionally, the bank had adopted a seasonal, campaign-based approach to marketing, resulting in fragmented spending and smaller agency briefs delivered tactically. It was felt that by taking an annual view of media spending, bargaining power could be maximised and efforts could be optimised in an ‘always on’ manner rather than the traditional approach of reviewing a tactical campaign at the end. Much of the messaging in the industry had been about rates, so the key creative shift revolved around the insight that consumers aspire to own a home, and a home loan is merely one enabler of that dream. This change in perspective led to two pivotal outputs:

1. 'Always On' Digital Program: This approach empowered the bank with greater media buying power and facilitated the negotiation of a media partnership with Domain that seamlessly integrated home finance discussions into the home search experience. Broader value propositions were reimagined to emphasize home ownership as an aspiration, positioning the home loan as an enabler rather than a mere financial product. Consequently, functional tools and resources were created, catering to various stages of the home buying process beyond just mortgage calculators. The broader value proposition also enabled freedom to take a ‘long tail’ approach to paid search keyword targeting, helping diversify beyond the highest cost head terms and add contextual extensions such as buying location.

2. Property Guide iPhone App: Research had revealed mobile increasingly becoming the key platform for home research, so an iPhone app was designed to streamline property search, research, and financing in one platform. Leveraging augmented reality and mapping technology, it granted homebuyers virtual insights into properties. Features included sales history, property listings, demographics, median prices, and various financial tools. Convenient "click to call" and "arrange an appointment" functionalities were also incorporated.

Results

The results of this comprehensive approach were transformative, demonstrating how a strategic shift in approach, coupled with innovative thinking could break through competitive clutter and achieve impressive return on investment:

• Significantly enhanced brand health metrics and a 3:1 return on a multi-million dollar advertising spend

• Media efficiency was maximized through bulk buying

• Within 24 weeks, the App garnered over 100,000 downloads within a few weeks, becoming the number one lifestyle app and the third overall app in the Australian iTunes store. It received international media coverage and set a new benchmark for banking digital creativity and customer experience. The App continued in its standalone guise for a number of years before being integrated into the main banking application

• Both components of the programme were recognised at the highest level for marketing creativity and effectiveness, both domestically and internationally. This elevated the bank's status to officially become the most effective financial services advertiser globally (as per Global Effies)

• While the digital programme was ‘invisible’ while it captured demand, the App’s success and publicity created the opportunity for it to become a vehicle of the bank’s brand. Subsequent TVCs were created, promoting the app (and its associated innovation) while it was also listed in the bank’s annual board report as a key driver of success that year