A burgeoning property market and record low interest rates presented an opportunity to grow Westpac's Home Loan marketshare. However, unlike other market players, Westpac wanted to reinforce its position as experts and produce targeted comms to customers with a greater propensity to take up an Investment Property Loan.
There is a widely held perception that investment loans are more expensive and inaccessible. We needed to challenge this perception to achieve cut through.
Our creative approach was to bust the myth around the ability to invest and cost of Property Loans. Utilising propensity modelling allowed us to identify customers with a greater potential to add to their property portfolio. Accessing their data, we directed customers to their unique branch of origination, with personalised Branch Manager or personalised Broker details.
To provide another compelling reason to speak to their Branch Manager or Broker, an InBranch Interactive Property Calculator Data Wheel was available on the spot, to help determine their capacity for an additional Property Loan and help manage their cash flow. A Property Calculator was also sent to a test volume of customers through DM. Multiple channels were used to communicate the opportunity and reach our highly targeted audience, using DM, eDM, telephone and InBranch.