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

• 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%

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