A housing market plagued by low inventory, high demand, and inflated prices was one of many COVID-era economic challenges that left mortgage lenders like Connexus feeling pinched.
My strategy to take on the housing market havoc? Pivot from marketing mortgages to home equity loans and lines of credit.
How?
By encouraging prospective buyers to forgo house-hunting and instead invest in their existing homes to create safe, comfy spaces they don’t want to leave. (And by the CDC’s standards, really shouldn’t.)
While the idea to shift marketing efforts from mortgage loans to home equity was novel, Connexus was on board.
To make it happen, I designed a campaign featuring 15+ print and digital assets, including a six-email series that provided room-by-room inspiration for HELOC-funded upgrades:
Email 1
SUBJECT LINE: Upgrade your home with a HELOC.
PREHEADER Make home the place you want to be with this special offer. Details inside!
Email 2
SUBJECT LINE: Your dream kitchen is just a HELOC away.
PREHEADER Rediscover the joy of cooking at home by creating a chef-worthy space with a HELOC.
Email 3
SUBJECT LINE: Upgrade your home office and save.
PREHEADER: Refresh your work-from-home space by leveraging the equity in your home with a HELOC.
Email 4
SUBJECT LINE: Design a space fit for a superfan.
PREHEADER: Upgrade your basement or backyard into the ultimate game-day destination with a Home Equity Line of Credit (HELOC).
Email 5
SUBJECT LINE: Last chance to save on a HELOC.
PREHEADER: Don’t miss our offer to cover closing costs on new HELOCs – expiring soon!
Email 6
SUBJECT LINE: Closing cost offer extended – hurry!
PREHEADER: Last chance! Apply for a new HELOC by May 29 and we’ll cover your closing costs. Details inside.
The results? The most successful home equity campaign Connexus had run.
Ever.
Achieving a conversion rate 10% higher than average, the campaign exceeded home equity loan goals by 84% and HELOC goals by 71%. Mission accomplished.