THE CHALLENGE
Research revealed that 85% of Commonwealth Bank customers wanted a trusted advisor to help them choose the most appropriate home loan. They’re also looking for direction in their property hunting-72% of CBA customers uses their laptops or mobiles to access information on the run.
THE SOLUTION
CBA created its own world-class digital property app- becoming the trusted advisor home buyers are looking for. Ikon took exciting, publicly available data such as past sale price and market conditions, combining them with the geo-location technology in many of today’s smartphone’s.
The application allowed users to access customized, detailed suburb profiles, demographics, median house process, property hotspots and capital growth trends. This information was also visualised by the applications augmented reality functionality where the customized rich data, current property listings and recent sales were mapped into a real world view.
THE RESULTS
The property search application has been downloaded by over 100,000 people and has directly generated 7,946 home loan applications at a cost of $56 per application (78% below average CPA).
Consumers spent an average of 2.6 minutes using the application.
