Type of entry: Product & Service
Category: Financial Products & Services
Advertiser: FIRST DIRECT
Product/Service: CURRENT BANK ACCOUNTS
Agency: MINDSHARE London, UNITED KINGDOM
Business Director: Mark Holden (Mindshare)
Account Manager: Farhann Cachra (Mindshare)
Partner: David Walsh (Mindshare)
Strategist: Don Laratonda (Mindshare)
Account Director: Jamie Allard (Mindshare)
Account Manager: Laura Jane Powell (Mindshare)
Results and Effectiveness:
The message reached 1.8m consumers and 68% of our target audience of medium to upper income 30-44-year-olds saw the message seven times, changing attitudes and driving new business to first direct.
Brand differentiation has increased 10%.
Brand momentum is up 14%.
Response rates have increased a staggering 240%.
Current account consideration has risen 7%.
The internal communications team is now using first direct live as an internal communication tool, helping make the bank’s service even more attractive to new customers.
We mined forums, blogs, comment threads and social networks for real-time data on what customers were saying, both positive and negative.
The results were used to create real-time maps of consumer attitudes towards first direct, how many people were positive and how many were negative. They were a visual representation of the state of our brand, changing from minute to minute where the medium was truly the message.
These maps were shareable as widgets on social networks and used to create a digital out of home campaign that would broadcast this unique customer feedback to the world.
Our maps ran as live digital advertising on the London Underground, in train stations and shopping malls.
At the same time we asked existing customers for honest feedback to create more credible content. The unedited words of first direct customers, both favourable and unfavourable, were transmitted live on the campaign website.
Insights, Strategy and the Idea:
first direct is a different kind of bank. Launched in 1989, it offered customers a completely new relationship. By 2009, however, other banks had started to catch up and the degree of brand differentiation had declined.
Our brief was to recruit new customers at a time when consumers had no trust in financial institutions. Fortunately we knew that first direct really was different: customers really loved the bank. It was the most recommended bank in the UK.
We couldn’t simply tell people this, we had to let the brand’s best advocates, its customers, do it. The strategy would be to show not tell.
To do this in a credible way we had to let our customers share their experiences both positive and negative.
We would broadcast their comments unedited to the world to create a totally transparent message: one that no other bank would dare to consider.
The Promo / PR Ad titled LIVE AND UNEDITED was done by Mindshare London advertising agency for product: Bank Accounts (brand: First Direct) in United Kingdom. It was released in the Jun 2010.