In a competitive market, sometimes the best thing you can do is build.
Volatile rates. Limited availability. Pricing woes. These three factors contributed to Cardinal’s desire to promote its ability to offer construction loans for custom homes and renovation projects at any scale.
We tackled this “mini-campaign” as a team, with each writer taking on specific elements that would reinforce a buyer’s confidence in Cardinal’s lending abilities.
Individually, I was responsible for three blogs, a video script, and refreshed construction loan messaging for our “What’s Your Reason” ads. I also laid the language groundwork for our construction loan marketing:
“Land, lumber, and labor — finance all of it with construction loans from Cardinal Financial.”
The groundwork.
With guidance from the product marketing team, we developed materials centered around the idea of paying for the property and the projects with one home loan instead of taking out multiple loans for different components. Previously, someone might have to take out one mortgage to buy a plot of land and another to pay for the construction. Alternatively, they might purchase the home before taking out a personal loan to pay for renovations. Cardinal Financial values convenience, which is why we’re promoting different construction loans that cater to a variety of needs — from groundbreaking custom builds to fixing up a fixer-upper.
One-Time Close
“Land, lumber, labor.” This was the main messaging concept that drove our OTC marketing. Instead of buying land and paying for the construction separately, an OTC loan pays for all of it one time — meaning one application, one down payment, and one closing.
Renovation
“Pay for the property and the projects.” While Freddie Mac’s CHOICERenovation loan program isn’t exactly new to the industry, it was a new product for Cardinal Financial and differs from the OTC offering. I developed marketing material that advertised the ability to finance a fixer-upper and the fixings with one loan.
Rehabilitation
Construction isn’t limited to new builds or interior renovations. It also includes lending to people whose homes were lost or damaged in natural disasters, and need financing to repair or replace those homes. I penned a script that explained those loan types and their differences.
The results.
Stronger marketing support for a full range of construction loans, providing buyers a look into the possibility of building a home when housing inventory is low in almost every state.
While we don’t have specific metrics on the success of this effort just yet, we do have the confidence to go out and support buyers in a time of need.
