Work / Iowa Finance Authority – Homeownership Campaign
- Creative
- Media
- Strategy
Situation
The Iowa Finance Authority (IFA) helps Iowans secure homeownership through mortgage and downpayment programs.
Their campaigns, however, have not always hit the right note with prospective homeowners, nor has the infrastructure for tracking campaign efficacy been clear-cut.
Additionally, the complex relationship between the IFA, homeowners, and lenders presented an unorthodox challenge for traditional marketing campaigns.
Solution
Through effective research, an updated sales strategy and incentive plan, a contemporary digital strategy, and empathetic creative, Happy Medium granted IFA the results they sought and the clarity to optimize the campaign to adapt to new trends.
Our Approach
Hope and Proof
We created three spots prioritizing relatability and possibility: A couple working together to buy their first home, a single man buying a home with assistance from a parent, and a young family looking for a home that fits the size of their family. We also used motion graphics to simplify the downpayment math to a number lower than the savings in many people’s accounts to potentially zero.
Solving the Funnel
Prospective homeowners cannot apply directly to IFA for their programs. Only a qualified lender can apply on a prospect’s behalf. Our strategy addressed these issues through the educational drip campaign and eligibility tool that qualified homebuyers and directed them to relevant programs and qualified lenders.
Education and Confidence
We sent the ads to prospective homeowners in areas where IFA programs would make an impact. The spots led to a microsite rich with relatable financial profiles, realistic downpayment scenarios, and a first-time homebuyer’s guide. This kicked off a drip campaign that armed them with everything they needed to talk with a lender and engage with an eligibility tool.
The Lender Incentive
We interviewed IFA’s top lenders to discern what they really want. The answer was simple really. Better leads and more of them. Lenders loved having their names given out at the end of the eligibility tool’s results page as it garnered them more leads. Lenders loved it even more when prospects opted into getting contacted directly and got all of the information about a potential purchase sent directly to them.
See It All
By The Numbers
- The combination of relatable creative with educational resources enabled us to build a high level of trust with IFA’s audience. We also targeted better prospects through optimization of look-alike audiences and audience targeting.
- 60% Homebuyers opted in to send their info to a lender.
- 19% Reduction in CPA due to optimization.
- 144% Beyond IFA’s ROI for campaign spend.
Testimonial
“I appreciate IFA’s forward-thinking and innovative leads system which connects Iowa homebuyers with lenders in their area, like me who are ready, willing and able to assist them through the process.”
Outcome
With IFA we were able to create a marketing campaign where everyone wins. Homebuyers found homes within reach faster than they thought. Lenders got more leads that were well qualified. And IFA got more people to use their programs while also strengthening their reputation with lenders.