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Multicultural Marketing Campaign

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.

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Multicultural Marketing Campaign

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  1. Multicultural Marketing Campaign

  2. 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

  3. 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

  4. CHFA Solutions • Down payment Assistance Program (DAP) • Homebuyer education & financial counseling programs • Reach into communities with 130+ lenders • Loan options for interest rate/points

  5. 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

  6. CREATIVE APPROACH

  7. New & Improved Websites New Spanish version of the home buyer section of the English website, improved the English website with more people photos

  8. CHFA Better Home Commercial English version CHFA Better Home Commercial Spanish version

  9. TV Radio placements

  10. Spanish Social Media 208 Likes 4.04 million reach 17.9 million impressions #primerhogar & #firsthome

  11. Online ad buy $10,000 investment 12,205 clicks & 6.2 million impressions

  12. Bus ads in cities (English & Spanish) added impressions

  13. Public Relations/Outreach • 15executive 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 professionals 2. Display booth in area malls 3. Telemundo telethon 4. Caribbean Fest sponsorship

  14. 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!

  15. RESULTS

  16. 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.

  17. Website activity spikes corresponding with media appearances

  18. Interaction Strength In 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.

  19. 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

  20. Measures of success

  21. Lisa.kidder@chfa.org @CHFA_RockyHill Connecticut Housing Finance Authority

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