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Pinterest Leveraged For BECU's Home Loan Campaign
TUKWILA, Wash. (8/21/13)--Pinboard photo-sharing site Pinterest played a major role in Tukwila, Wash.-based BECU's three-month "Project Home" campaign to promote home equity lines of credit and no-equity home improvement loans.
 
Each month, the $11 billion asset BECU's campaign focused on different home improvement topics (National Mortgage News Aug. 19). Pinterest was one component, along with BECU's newsletter, website and social media outlets. A news center on Wordpress acted as a content hub. BECU used the hashtag #BECUProjectHome to link the campaign to its other social media channels.
 
On Pinterest, the credit union challenged members to submit five photos of an ugly room in their house for a chance to win $500 to help with the do-it-yourself project. The goal was to get members to think about how to improve a room and then how to finance the project, the article said.
 
The promotion resulted in 565 new transactions, including new loan products and new transactions on existing loan product, Because Pinterest was only part of the campaign, it is not clear what loans it alone brought in.
 
However, Pinterest drew as much as five times the response rate as the other campaign elements did, said BECU. While other Project Home articles brought 1,500 to 2,000 clicks, the Pinterest contest drove 7,500 clicks from BECU's March newsletter alone. BECU's Pinterest followers increased by 183% to 500 followers.
 
In tracking the clicks in the campaign, BECU found many who clicked on Pininterest also explored BECU's other Pinterest boards on topics such as saving money and retirement tips.
 
The credit union gave this advice for other credit unions wanting to try something similar:
  • Tailor the campaign to the site, instead of fitting the site to the campaign.
  • On social networks, join the conversation instead of directing it. Talk about homes, rather than just about products.
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