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Win $100k with BOQ Best use of social media BOQ

Win $100k with BOQ Best use of social media BOQ. Contents. BOQ social media: Background Transformation Results. BOQ social media - background. The BOQ Property Ladder

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Win $100k with BOQ Best use of social media BOQ

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  1. Win $100k with BOQBest use of social mediaBOQ

  2. Contents BOQ social media: • Background • Transformation • Results

  3. BOQ social media - background The BOQ Property Ladder BOQ has undertaken a major social media initiative in the form of the BOQ Property Ladder as a means to start a dialogue with potential new customers who are looking to enter the property market. BOQ developed a revolutionary social media data collection engine that allowed us to build and propagate a social database to provide better customer profiling and targeting. With the BOQ Clear Path home loan product new to market, this social media mechanism provided a unique opportunity to raise awareness of the product through social networks and engage social audience in discussion about their home loan needs. The promotion gave entrants in the Property Ladder competition the opportunity to win $100,000 in the major prize draw as well as be in the running to win one of four weekly $1000 cash give-aways (totalling $60,000).

  4. BOQ transformation - transformation BOQ Property Ladder The social media data collection engine was engineered to achieve the following: • Participants entered the competition by granting permission for their Facebook and/or LinkedIn profile information to be collected by the competition app. • Participants were rewarded with extra chances to win based on how much social profile data they made available, including incentives for referring the competition to friends, thereby encouraging propagation. • Once entered, the engine matched prospects suitability for a product using a sophisticated algorithm that scores weighted variables for sales of home loans. • We then analysed the data, to provide a compelling home loan offer to those identified as true prospects. • This type of targeted marketing capability was not previously available.  

  5. BOQ social media - results BOQ Property ladder The competition generated: a database of over 15,000 social media profiles over 7000 prospects Over 34,000 referrals (with an average of 42 referrals per individual) and A significant uplift in the number of new home loan approvals to BOQ

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