Home Equity Line of Credit
Due to our ongoing strategic communications with the client, we were aware that Athol Savings Bank was looking to increase their Home Equity Lines of Credit, both with existing customers and new customers.
Services used on this project
- Brand Strategy
- Analytics
- Social Media
- Design
Let the numbers tell the story
72
HELOCs opened
76.2%
increase over previous year
691.2%
ROI
Project Goals
Look for opportunities to grow the bank's home equity portfolio.
Process
During our regular review of the bank’s Google Search Trends for various products in their market area, we noticed that July-October displayed spikes in searches for HELOC related keywords. Understanding that these trends are a barometer not only for online activity, but for total consumer demand, Pannos Marketing saw a unique opportunity for our client to generate HELOC balances during a period where most competitors are dormant. As a result, we proposed an integrated campaign including newspaper ads, direct mail, email marketing, social media advertising, display ads and search engine marketing, running from August through October.
Results
Over the 3-month duration of this campaign, Athol Savings Bank opened 72 HELOCs, a 76.2% increase over the previous year. Additionally, the HELOCs were opened at higher amounts, resulting in a higher ROI. Once the costs of the campaign were factored in, the results proved a 691.2% ROI.
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