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Multicultural Marketing Campaign. Research highlights:. Saving for down payment is a barrier Process viewed as too complicated especially among minority borrowers Minorities are 1/3 of CHFA borrowers Existing base of credibility w audience. Boost Awareness: Single-family mortgages. - PowerPoint PPT Presentation
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MULTICULTURAL MARKETING CAMPAIGN
Research highlights:
• Saving for down payment is a barrier
• Process viewed as too complicated especially among minority borrowers
• Minorities are 1/3 of CHFA borrowers
• Existing base of credibility w audience
Boost Awareness: Single-family mortgages
• Strategy: to generate greater awareness among underserved minority markets:- African American- Latino- Asian Pacific
• Minorities are 1/3 of CHFA borrowers• Existing base of credibility w audience
CHFA Solutions
• Down payment Assistance Program (DAP)
• Homebuyer education & financial counseling programs
• Reach into communities with 130+ lenders
• Loan options for interest rate/points
Tactics: Multicultural market
–Paid TV and radio advertising featuring multicultural couples–Spanish website–Multicultural newspaper advertising–Bus advertising in Spanish & English–Sponsorship of the Caribbean Festival in Hartford–Increased public relations, specifically implemented first Spanish executive interviews–Postcard campaign in Spanish–Sponsorship of LUPA event for young, professional Latinos–Implemented social media in Spanish, increase in social media in English
CREATIVE APPROACH
New & Improved WebsitesNew Spanish version of the home buyer section of the English website, improved the English website with more people photos
CHFA Better Home Commercial English version
CHFA Better Home Commercial Spanish version
TV Radio placements
Spanish Social Media 208 Likes 4.04 million reach17.9 million impressions
#primerhogar & #firsthome
Online ad buy
$10,000 investment12,205 clicks & 6.2 million impressions
Bus ads in cities (English & Spanish) added impressions
Public Relations/Outreach
• 15 executive interviews on tv & radio• News releases on mortgage programs &
homebuyer education led to multiple media mentions (spillover benefits to other programs)
• Events 1. Networking with Latino professionals2. Display booth in area malls3. Telemundo telethon 4. Caribbean Fest sponsorship
Telemundo Telethon with lenders, farm league sponsorship and CHFA staff at Hartford’s Annual Caribbean Fest
Dragon Boat Fest is on the list for 2015!
RESULTS
On CHFA’s existing website, we saw a large increase in website activity. In
addition, the Spanish website had more than 2,600 visitors and more than 500 stayed on the website to look at other
pages.
Website activity spikes corresponding with media appearances
Interaction StrengthIn total, from April to August, more than 25,000 people interacted with CHFA with more than 1,500 having a strong interaction through taking an action after seeing or hearing advertising. In total generating more than 10 million impressions among internet users.
InteractionsInteraction
Strength NumberStayed on Hogar Strong 470Call Center Strong 278Telemundo Telethon Strong 70Likes (Spanish) Strong 204Likes since April (English) Strong 179Talked about CHFA on social media Strong 461Increase from last year on CHFA.org (May - July) Medium 9,000Went to Hogarchfa.org Medium 2,473Clicks on-line Ads Low 12,205Total 25,340
ImpressionsInteraction
Strength NumberFacebook Ad Organic (Spanish) Passive 8,663Facebook Ad Paid (Spanish) Passive 842,901Facebook Organic(English) Passive 16,708Facebook Paid (English) Passive 3,050,524Digital Ads Passive 6,269,283
Total 10,179,416
TV & Radio Impressions
• Programming including FIFA World Cup, other sports programming, range of cable networks: CNN, Comedy, Food, VH1, HGTV, BET, HSN
• 2.2 million impressions
Measures of success
Production - January to August January to August
Change % Change 2013 2014 CT Home Sales (Source: The Warren Group) 26,733 26,409 -324 -1.2% CHFA Purchased Loans 998 1,370 372 37.3%
