ME launches industry-first calculator ‘Scroogify’ and supporting campaign via Dick & Jane
Home loan lender ME has launched its new Scroogify tool this week to exploit the growing refinance market.
ME will support the tool with a major marketing campaign via Dick & Jane which includes TV, radio, online, public relations and social media, running nationally throughout 2017 and including a nationwide social media campaign to find ‘Australia’s Biggest Scrooge’.
Says Patrick Nolan, head of home loans, ME: “We reckon everyone has an inner scrooge just waiting to come out. The marketing campaign is designed to encourage borrowers to embrace their inner scrooge and unleash it on their home loan.
The bank says the tool will help it maintain strong home loan growth after increasing its lending book 1.6 times the market average in the six months to 31 December 2017.
ME home loan settlements hit $3.2 billion for the six months to 31 December 2017, up 54% compared to the previous corresponding period.
Says Nolan: “Industry refinance levels had been steadily increasing as competition between lenders intensifies and borrowers become increasingly aware of the new deals on offer.
“However, a large group of borrowers are still disinclined to refinance due to the perceived difficulties in comparing and because they underestimate the amount they can save, despite the fact the majority are with a major bank and are probably paying too much.
“We built Scroogify to be a new type of calculator that in a few seconds quantifies just how much a borrower would save over the life of their loan, in both time and money, if they switched their existing home loan to ME.
“We think Scroogify will shock borrowers out of apathy into action.”
Creative: Dick & Jane
Digital: Springload
Production: Kiandra IT, Assembly, CHE Proximity
Music: Nylon
PR: Keep Left
2 Comments
I love tools like this. They help me go back to my bank and push for a better rate. Far easier than refinancing. Thanks ME.
I really hope that last comment was from ME bank – great strategy on how to incorporate your own comment into the press release.