1. I-Refi: Marketing at the Movies
By: Wally Swenson
Director of Communications, Illinois Housing Development Authority

2. The Question
How do you market a program to underwater homeowners who think it is “too good to be true”?

3. I-Refi Movie Theatre Campaign

4. The Problem
In 2009, a majority of property values were plummeting across the nation, by the end of the year homeowners were seeing the largest decline in a 12 month period.
Today, this is still the reality for many homeowners in Illinois.
20% of all homeowners are seriously underwater on their mortgage.
Traditional lenders were unable to step into this space.

5. A Solution
IHDA launches I-Refi (August, 2016).

6. Marketing I-Refi
Press Conference with Illinois’ bipartisan Senate delegation.
Webpage dedicated to I-Refi on IHDA’s website.
Promotion through social media.
Pitched and earned coverage in Crain’s Chicago Business, Chicago Tribune, the AP and a number of local media outlets.
Partnered with Fannie Mae for direct mailing.

7. The Challenge: “Too Good to be True”
We expected the product to fly off the shelf.
The need for a product like this.
The only product available in the marketplace.
It didn’t.

8. Thinking ‘Outside the Box’

9. I-Refi: Movie Theatre Campaign
Low risk
18 new loans would cover the cost of the campaign.
The Reach
642 movie screens.
1.6 million impressions during the month of March.

10. I-Refi: Movie Theatre Campaign

11. I-Refi: Movie Theatre Campaign
10 weeks later, I-Refi saw a 60% increase in loan reservations.

12. Inside The Numbers

13. Next Steps Rethinking the way we market.
Testimonials, narratives, success stories.
Rinse and repeat.

14. Next Steps
Thinking creatively. No, really.

15. Thank You