BALLOON by Di Paola for Banco Itau

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BALLOON

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Industry Banking & Financial Services
Media Direct marketing
Market Argentina
Agency Di Paola
Art Director Leandro Benitez
Copywriter Damián Agnolo
Released October 2009

Credits & Description

Category: Financial Products & Services
Advertiser: BANCO ITAÚ
Product/Service: MORTGAGE LOANS
Agency: DI PAOLA & ASOCIADOS WPP
Date of First Appearance: Oct 9 2009 12:00AM
Entrant Company: DI PAOLA & ASOCIADOS WPP, Buenos Aires, ARGENTINA
Executive Director: Raúl Vargas Fourcade (di Paola & asociados Chile S.A.)
General Creative Director: Flavio Rucci (di Paola & asociados Chile S.A.)
Art Director: Leandro Benitez (di Paola & asociados Chile S.A.)
Copywriter: Damián Agnolo (di Paola & asociados Chile S.A.)
Account executive: Eileen Dooner (di Paola & asociados Chile S.A.)
Direct Marketing Manager: Manuk Masseredjian (Banco Itaú)
Media placement: Direct Marketing - Dimensional mail - October 09, 2009

Describe the brief/objective of the direct campaign.
In a complicated scenario for the mortgage loan sector, with unstable interest rates, major fluctuations and an upward trend, Banco Itaú launched a product with a highly competitive interest rate, a fixed rate for 1 year, and a preferential rate for the remaining period. We needed to relieve the tension that this topic caused the clients, in view of the uncertainty presented by the crisis, using an unusual object for banking communications. A balloon. Using a clear concept: What goes up, can go down.

Explain why the creative execution was relevant to the product or service.
With a playful delivery for a complicated topic, we managed to generate a sales volume for a sensitive, not-easy-to-sell product, that exceeded 42% of the goals defined. We truly represented the feeling of unreachable increase and decrease up to being within one’s reach of an opportunity to refinance a mortgage loan. It generated positive reactions in clients who did not buy the service, it was a conversation topic among sales executives, numerous spontaneous phone calls to the SAC praising the mailing or speaking of the experience regarding both the delivery reception as well as the moment of opening the piece.

Describe the creative solution to the brief/objective with reference to the projected response rates and desired outcome.
We wanted to represent interest rates going through the roof by means of a balloon that had to be burst for rates to go down again. We sent a balloon with the phrase 'interest rate' printed on it, inflated with helium, and containing a brochure inside. One could access the information by bursting the balloon. It was connected to a base with a ribbon, with a personal tag and a needle, an invitation to burst it. The brochure would explain the opportunity of a low and more stable interest rate, it was personalised with the pre-approved sum with immediate availability.

Describe the results in as much detail as possible with particular reference to the RESPONSE of the target audience including deliverability statistics, response rates, click throughs, sales cost per response, relationships built and overall return on investment.
8,247 customers were contacted. The action obtained a response rate of 2% It had a surprising sales conversion rate of 74% Exceeded the goal in a 42% The placement opportunities achieved for Itaú Home Mortgage Loan amounted to US$ 13,500,000 Three months after the campaign, the sum of loans contracted was US$ 4,000,000 The case had a 270% ROI