Setting up a new home is an expensive business and it's top of
mind when young couples get married. Ha'Poalim Mortgage Bank
identified weddings as a key moment in which to reach out to this
potential target market.
It created a special product designed to appeal to newlyweds,
offering a competitive rate, the ability to take a payment holiday
and no penalties for early redemption. The bank then sent out
dozens of representatives to weddings across the country to spread
the joyful news.
Taking advantage of the tradition of putting cash or cheques in
envelopes into gift boxes, it posted a congratulations card, an
Ikea gift voucher and an invitation to meet with the Ha'Poalim
mortgage team to discuss the special mortgage package. On the
evening of the wedding when families were noting the generosity of
family and friends they would discover the gift from Ha'Poalim as
well as a personally signed card from their representative wishing
them future happiness.
For eight weeks representatives targeted hundreds of weddings in
the Tel Aviv area on Thursdays - the traditional day for
weddings.
Twenty-five percent of the couples approached called to set up a
meeting, and many more came into bank branches. Ha'Poalim will be
targeting weddings again in 2009.