Commonwealth Bank: Home seeker

Will Nichols

The Commonwealth Bank needed to understand why 85% of its Australian home loan applicants were not taking out a loan.

Commonwealth Bank: Home seeker

Agency: BMF

Advertiser: Commonwealth Bank

Author: Will Nichols

Total Campaign Expenditure: Under $500K

STRATEGIC COMMUNICATIONS CHALLENGE

The Australian home loans market is highly competitive. The big four banks, brokers and smaller lenders ferociously compete for valuable home buyers. Convincing these buyers to speak to the Commonwealth Bank (CBA) and begin the application process is vital to success.

However, analysis of the bank's application process showed that 85% of pre-approved customers do not convert to a fully funded home loan within the six month approval period. This was occurring despite the fact that...

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