|Title||VUB SAVING BUTTON|
|Product/Service||VUB SAVINGS ACCOUNTS |
||B05. Corporate Purpose & Social Responsibility|
TRIAD ADVERTISING Bratislava, SLOVAK REPUBLIC
TRIAD ADVERTISING Bratislava, SLOVAK REPUBLIC
||Chief Creative & Strategy Officer
Why is this work relevant for Creative Strategy?
I consider myself lucky to be able to work on this campaign. It's not everyday you can actualy impact macroeconomical KPI's :)
We had to handle the most boring and complicated area in advertising - savings.
Getting a nation how to save money without boring edyfiyng is a stategy challenge.
This campaign is another proof, that outstanding creativity can not only deliver great business results, but change behaviour of people in their favour. In this case a typical win-win situation.
VUB Bank is the second largest bank in Slovakia having almost half of the population as clients offering a wide range of products from traditional loans, mortgages, saving accounts to private investment products.
The brief was to promote the bank's various saving products.
1. Volume of savings accounts deposits during the campaign - 54 milion EUR (double of the amount of previous years), 10 800 pcs newly opened saving accounts.
2. Spontaneous campaign awareness - at 20% (according to previously archieved results while benchmark in finance segment is only: 3,8 %). Other communication KPI's above industry benchmarks.
Interpretation (30% of vote)
Since this created a potentially harmful impact on the financial situation of households, banks had to focus on gaining deposits. The conservative slovaks have most of their savings in liquid funds such as accessible saving accounts of time deposits although the interrest rates are very low.
Saving accounts were the easiest option for VUB bank to gain more deposites. A great communication opportunity emerged as we could do something for the society - teach slovaks how to save and promote our saving accounts at the same time.
The VUB saving products themselves offered NO CLEAR ADVANTAGE compared to the competition. The interest rates and terms of saving products were almost the same among the whole finance segment. We had to use something else to stand out as a brand...
Insight / Breakthrough Thinking (30% of vote)
JUST ANOTHER BAD HABBIT
Everybody can save some money regularly. It does not have to be large amounts every month. Most of the people in Slovakia are just not used to it. In other words, not saving money is just a another bad habbit.
It's like when you know that you should exercise and that it is good for you or to stop smoking, or drinking alcohol, but you are not doing it anyway. But saving money is much easier than exercise.
You just have to start. Even in small amounts.
A BIG ENEMY OF SAVING
One of the biggest enemies is overspending and impulsive shopping. Nearly every slovak shopped already online (93%) and 26% do it weekly. What is worse, more than a half of every online shopping decisions is impulsive. This was and insight we had to address as well in our campaign.
Creative Idea (20% of vote)
How to fight a bad financial habbit?
With therapy... and humour.
Usually you go to a group therapy when you want to stop a bad habbit. But we put a little twist to it and created a therapy for people that want to get addicted to saving, treating money saving as a positive addiction.
The VUB Bank brand has it's longterm creative concept that is centered around the famous slovak actor and comedian Petra Polnisova. For years, her face is connected to the brand. We centered a group therapy around her success story of saving addiction.
To fight impulsive online shopping, we created a special browser plugin that ads to every "Add to cart" button an alternative button "Rather save". After installing this plugin to your browser, the button was added next to every buy button on online shops used in Slovakia.
Outcome / Results (20% of vote)
During the campaign, Slovaks saved 3x more money than in the previous year - overdelivering the business goal by 146% (a 79 milion EUR in total).
The goal of new savings accounts created was overdelivered by 150%.
Even the national household saving rate of Slovakia rose to 10,24% in 2019 - the year of our campain :)
Spontaneous ad awarenes reached 27% - 3 x more than next best competition while being the 4th spender on the market.
Clicks on the installed VUB money saving buttons totalled at an amount of 1,6 milion EUR during the campaign. Various mainstream media wrote about the button and the topic of impulsive online shopping.
Please tell us how the brand purpose inspired the work
The purpose of VUB bank is the wellbeing of customers in various areas.
This is why VUB cares not only for their financial needs and education, but also supports environment causes, local culture, arts and help for people in need.
When the debt to saving ratio reached critical values, a potential WIN-WIN situation emerged. Get slovaks to save money and promote our saving accounts at the same time.