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IMB Bank Conquers Competitive Market with Data-Driven Campaigns


In an era of unprecedented interest rate hikes and fierce competition within Australia's banking sector, IMB Bank faced the challenge of capturing new customers amidst a sea of digital disruptors. These challengers, armed with speed and innovation, vied aggressively for market share in the home loan arena and high saver deposit accounts. IMB Bank, recognising the critical juncture, appointed Connected Digital to drive a comprehensive strategy to not only compete but lead in customer acquisition and retention.

IMB Bank's immediate hurdle was the swell of customers coming off fixed interest rates, leading to a steep rise in mortgage payments. This issue was compounded by the market's influx of cashback offers and the aggressive positioning of digital mortgage providers. IMB Bank needed to navigate these rough waters by crafting a competitive brand proposition that transcended rates and promotions.

By deeply understanding the competitive environment and the customer journey, and employing a robust mix of competitive offers, data-driven optimisations, and digital enhancements, Connected drove significant improvements in both lead volumes and marketing efficiency for IMB Bank.



  • Maximise lead generation for home loans and high saver accounts

  • Leverage competitive insights to enhance product offers and marketing communications

  • Optimise the digital customer journey from initial engagement to final conversion

Strategy & Execution

The approach was made of data-driven insights and agile marketing tactics:

  • Utilising tools like Google Trends and auction reports, Connected identified key touchpoints for consumers considering a banking change.

  • Connected followed competitive offers in market closely and developed a matrix to identify new opportunities for IMB Bank. By regularly updating cashback and bonus interest offers, the bank stayed competitive in the dynamic market. Collaborating with internal compliance teams was a critical step in brining these offers to market quickly.

  • Analyses of conversion rates and user behaviour on landing pages via Google Analytics informed enhancements that improved the site's performance and conversion rates.

  • First-party data from tools like Google Analytics and Tealium shaped campaigns, targeting users based on home loan approval status and application data, ensuring smarter budget allocation.

  • Expanding reach through YouTube and social media, Connected identified a 'halo effect', where strong home loan offers also boosted leads for other products.

  • Investments in broad match keywords and paid search strategies decreased reliance on affiliates, improving lead quality and cost-efficiency.


  • 63% increase in deposit applications driven by Paid Search within the first three months after Connected took over and restructured the Search account.

  • Consistent growth in deposit applications in 5 out of the following 7 quarters, with a decrease in budgets by an average of 7% from the baseline.


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