Rocket Mortgage partners with aytm to explore saving in first-time homebuyers
Consumer insights that drive SEO and media coverage
Did you know that 40% of non-homeowners say down payments and closing costs are keeping them from purchasing a home. That’s huge. And Rocket Mortgage Data Journalist, Isabell Lenzin was intent on uncovering insights surrounding this gap. So, she teamed up with aytm’s experts to discuss ways of understanding the intention-behavior gap when it comes to first-time home buyers saving for down payments. Then she leveraged aytm's survey platform build and launch a survey to 1,000 non-homeowners, seeking insights surrounding obstacles to saving for a down payment. The results showed an average gap in savings of $1,500 a year and illuminated rationale and consumer priorities impacting one of Rocket Mortgage's core audiences.
The challenge
Objectives
- Down payments are a major hurdle for first-time homebuyers
- Rocket Mortgage wanted to understand why buyers save less than intended
- These understandings would be included in a data-driven SEO article to drive earned media coverage
Target Audience
The solution
Method
- Leveraging aytm’s expertise, they designed a survey that would reveal the discrepancy between saving intention and saving behavior
- They launched a survey to 1,000 non-homeowners using the aytm platform
- The survey was screened for prospective first-time buyers planning to purchase in the next 5 years
The results
Results
- The aytm platform enabled rapid surveying to uncover actionable insights into first-time homebuyer needs
- Results showed that first-time buyers save 22% less monthly than intended (approx. $1500 less per year)
- Survey results also provided data-driven insights into saving obstacles for consumers
