The Background
AIB had a unique chance in 2022 to expand its mortgage market share as its rivals,KBC and Ulster Bank, exited the market, presenting an unprecedented growth
opportunity.
Home of the Year (HOTY) would represent the most significant step-change in AIB’s marketing plans YOY to first time buyers.
This campaign was shortlisted in the Best Use of TV Sponsorship category at the TAMI Awards 2023
The Challenge
2022 represented a once in a lifetime opportunity for AIB to grow market share with competitors leaving the market – KBC and Ulster Bank. Mortgages are the most competitively fought for aspect of the banking sector and there are a range of competitors beyond the pillar banks. 2022 was crucial for AIB to secure a portion of new and switcher mortgages.
There were also several challenges the market:
• Housing shortage
• Continued emergence of non-bank lenders
• Increasing interest rates from ECB.
AIB needed to stay relevant and top of mind – especially with FTB’s who are over 50% of mortgage market. They needed to:
• Be highly targeted with a focus on first time buyers by being constantly top of mind
• Disrupt and challenge the traditional approach and monetise investment where possible
The Strategy
Whilst there was a robust TV advertising strategy in place for AIB Mortgages, Core Sponsorship recognised that sponsorship allowed for a deeper dialogue with consumers, in a way that advertising alone cannot match. The right TV sponsorship if leveraged correctly can bring considerable benefits for a brand beyond its stings.
They wanted a sponsorship that would extend reach beyond the confines of the TV screen and into the realm of social media and beyond into the real world. The idea
would be to leverage all the best assets of the programme. TV stars are the most powerful of influencers and by extending reach with relevant and inspiring content, it would allow for AIB to be top of mind for mortgages with FTBs, even if they never saw a single episode on TV.
Incidentally the timing was good, because their chosen show, HOTY, was airing in Q1, giving AIB a competitive advantage at the start of a crucial year. The strength of HOTY’s audience is impressive, but it was by tapping into the rapid rise in conversation when the show airs that would allow AIB to say top of mind (TOM). Core Sponsorship needed to infiltrate social conversation around HOTY and extend the sponsorship, ensuring they reached FTB’s in higher numbers.
By building a strong relationship with the production company, they could access their star power to fulfil their second objective – disrupt and extend the partnership beyond TV sponsorship assets.
The Plan
A Full 360° campaign required strong execution including:
- Inspiring bespoke TV Stings that mirrored the simplicity of a mortgage with AIB
- TV Spot and RTE Player package buys to bolster AIB’s presence and association
- TV & Social Promos to extend association and further build AIB’s link to HOTY
- Influencer Drops – sent to people of influence, judges and former contestants of the show. This generated excitement and engagement ahead of the first episode.
- Bespoke content series that centred around ‘Home Tips’ and featured the 3 judges from the show and helped us tap into the extensive social conversation that the show generates.
- An exclusive AIB finale event where FTBs registered to attend and were treated to a Q&A with show judges and a special preview screening of the series finale.AIB mortgage advisors were also on hand to offer information and appointments to help them start their mortgage journey
The Results
- Research to monitor market awareness of AIB’s sponsorships showed almost 1in4 of the banking population in Ireland were aware of HOTY sponsorship. This was particularly high for U35s who are most likely to be FTBs
- In H1 2022, Core Sponsorship saw the % of people who would research AIB as part of their mortgage journey increase and was the highest in the market, proving AIB was top of mind. Research further showed strong results on “heard about recently” metrics versus the competition.
- H1 results showed a 59% growth in mortgage lending while 305 applications were made at the exclusive finale event.
- Looking at an average mortgage value of €262k, that results in a potential application value of €79.9m. By further applying the net margin, the ROI ratio is potentially 11 to 1
- 2022 ended with mortgage drawdowns at 108% to plan.
- FTB represent 51% share of AIB mortgages in 2022 vs 47% for our competitors. (BPFI data)
“AIB’s sponsorship of Home of the year on RTÉ helps demonstrate the power of the right sponsorship in reaching the right audience at the right time. We know premium TV sponsorships perform well in their own right however we wanted to take our involvement to another level beyond TV stings.Through innovative interagency thinking we leveraged the power of a strong TV property. ”
Claire Lynch, Marketing Lead media and Connections, AIB
‘Working with AIB and Core on “Home of The Year” has extended our quality TV programme beyond the screen. Together we produced additional and engaging social content and AIB’s special event added a little more magic for their customer. That’s the power of the TV star, and how a great TV sponsorship, well activated, can work brilliantly for a brand like AIB’ ”
Larry Bass, CEO ShinAwil
Credits
Brand:
AIB
Media Agency:
Core Sponsorship
Supporting agencies/teams:
Starcom RTÉ Media Sales
WHPR
Award:
Shortlisted in the Best Use of TV Sponsorship category at the TAMI Awards 2023