The interest rate is one thing that can't often be controlled by homeowners, but SA Home Loans wanted to put power in the hands of the people. This was done by creating a social campaign called #TweetDreams, which made it possible for people on Twitter to lower the interest rate that would be given to lucky winners. The first time, the winner received a low interest rate of 2.84 percent, while users on Twitter pushed even harder for the second round, securing an even lower rate of 0.0 percent.
Since everyone can appreciate feeling empowered, this campaign is a clever one to get people engaged on social media to create a potentially life-changing outcome for homeowners.
Social Mortgage Campaigns
SA Home Loans' #TweetDreams Lets Users Help to Drop Interest Rates
Trend Themes
1. Social-media-based Interest Rate Campaigns - Financial and mortgage institutions can engage customers by using social media to involve them in campaigns for offering lowered interest rates.
2. Interactive Mortgage Campaigns - Mortgage providers can run interactive campaigns that allow customers to play a role in determining their interest rates, thereby boosting customer engagement and loyalty.
3. Gamification of Home Financing - Gamification strategies can be used by financial institutions to turn the process of obtaining a mortgage into a fun and engaging experience for customers.
Industry Implications
1. Financial Services - Financial services companies can leverage social media to run interactive campaigns aimed at acquiring new customers and building loyalty among existing ones.
2. Mortgage Industry - Mortgage providers can use gamification strategies to promote interest in their products and services, generating more leads and driving sales.
3. Social Media Marketing - Social media marketing agencies can design campaigns that not only boost engagement with brands, but also provide tangible benefits to customers.