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HomeSaver Goal Set
Awards
Channel Silver - Direct Response (any media)
Entrant
Unity ID
Nominee
Westpac New Zealand
Entrant Credits
Lori Morris, Kyle Morris, Abi Cooke, Ed Hackney
Nominee Credits
Victoria Hooper, Stephanie Scott, Liz Byers, Judith Taumuafono
Entry Rationale
The first-home buyers’ market, particularly in main centres, can be fraught. Newbies, armed with unrealistic expectations, earnestly start a savings journey only to be disillusioned by the growing gap between their dreams and their means.

To get first-home buyers off on the right foot, in 2014 Westpac created HomeSaver, a savings account and home loan package – including a savings account, first-home deposit booster, preferential low-equity loan approval, a great interest rate, savings and home-buying tips, plus support and motivation to stay focussed.

At the same time, Westpac attempted to harvest HomeSaver goals from its customers, achieving 25% conversion (defined as customers who entered the microsite and set their goal).

In 2015, not satisfied that 75% of the audience were not participating, Westpac leveraged the previous campaign to create the HomeSaver Goal Set campaign with two aims:

1. get customers to take the crucial first step in their home-saving  journey: setting a realistic savings deposit target and cut-off date
2. obtain data to begin a conversation with customers and develop a profitable long-term relationship.

Key elements of the HomeSaver Goal Set campaign were:
  • supporting communications across email, SMS and online banking, providing encouragement to get the most from HomeSaver by setting a savings goal.
  • a microsite where customers calculate a realistic savings goal required for their first home and a target date.
The campaign delivers multi-channel, motivational communications: 51.8% of customers clicked-through from the initial eDM to the goal-setting microsite (previously 36.5%), and the number of customers setting a HomeSaver Goal increased by 16% to a total 41%, while only 4% submitted an unrealistic (e.g. $123,456,789) or nonsense  (e.g. $50) goal.