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Hong Leong Promotes Loans by Launching the “Perfect 10 Promotion” Campaign

The Challenge

Housing loans are at parity with every bank offering similar products & services. This makes it hard for the sales force to convince consumers to sign-up for Hong Leong Bank Housing Loans, leading to wasted hours & effort.

The Idea

To inject fun into a conventional contest by putting a twist on an auspicious date -10.10.10

The Execution

Starting on the 10th of October 2010, Hong Leong Bank launched the “Perfect 10 Promotion” which gave away 10 42″ LCD TVs for loans which were applied for within 10 weeks. The campaign was communicated through the key touch points – press, TV, major online portal & at branches. The Ad was single-minded and stayed away from the cluttered layouts of competitors.Naga DDBlitz May 2011 - The Hong Leong Housing Loan Perfect 10 Promotion

The Results

The simplistic cleverness of the “Perfect 10″ Campaign successfully persuaded readers that the Hong Leong Bank Housing Loan was a deal that they couldn’t go wrong with. In terms of numbers, the campaign achieved 25% incremental compared to the target loan execution budget.

Positive feedback also poured in from the sales team, including the comment from the Ampang Point Branch Manager, “The campaign helped convince my customers to execute their housing loans faster! And now, I have happy customers too!”

The swift pace at which the housing loans were executed was an added bonus. Housing loans are big commitments and the process of “shopping for the best deals” and legal documentation can be a lengthy process. However, the chance of winning an LCD TV convinced consumers to take proactive step to execute their loans faster.

And how long did it take for all the TVs to be given away? You guessed it – just 10 weeks!

Source: David Mitchell, Naga DDB Insights, david.mitchell@nagaddb.com.my