Case Study:

American National Bank

Home Equity Loans Campaign

The Challenge

American National Bank faces serious competition in the loan arenas from local banks, credit unions, auto lenders and national banks. In order to compete, the bank needs a carefully planned campaign that is driven by creative with precise execution. To help American National Bank reach its goal for acquiring new home equity loans during a seven-week period from May to July, we were tasked with creating a multimedia plan that would utilize cost-effective mediums while maintaining high reach and frequency.

The Solution

We analyzed demographic data to reach best-opportunity prospects: homeowners age 25-54 with household income between $30,000 and $100,000. After researching competitive bank offers and loan rates in the marketplace, we determined that the best opportunity to create traffic was to offer the lowest interest rate in the Omaha/Council Bluffs area. Since standard 30-second TV was cost-prohibitive, 5- and 10-second station-produced TV spots were created to air during news programming on KETV, KMTV, WOWT and KXVO. Not only were the 5- and 10-second TV spots cost-effective to produce, the relatively inexpensive air time allowed for greater frequency during peak times on programming that reached our targeted demographic. With little time to provide all the benefits of this loan sale, messages focused on the main reason consumers chose where they obtained a loan – the low annual percentage rate. In addition, the media schedule relied heavily on cost-effective 60-second radio commercials supported by highly targeted small-market newspaper ads, Web banners, in-branch posters, handouts, counter signs and social media. American National Bank’s Facebook page displayed messages containing benefits of the limited-time offer.

Creatively, we focused on developing eye-catching graphics in print and humorous radio to break through the clutter. The simple message focused on the fact that other banks didn’t offer a rate that was as good as American National’s 3.99 percent and that it was a waste of time to look anywhere else. Rates offered at competitor banks were displayed on crumpled paper near a trash can.

The Result

The campaign helped book a record-breaking 136.7 percent of the goal of new home equity loans.