STEALING YOUR DREAMS by Whybin\TBWA Sydney for RaboDirect

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STEALING YOUR DREAMS

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Industry Banking & Financial Services
Media Direct marketing
Market Australia
Agency Whybin\TBWA Sydney
Director Steve Ayson
Executive Creative Director Matty Burton, Dave Bowman
Art Director Derek Anderson, Julia Elton-Bott
Copywriter James Ross-Edwards
Released April 2011

Credits & Description

Category: Financial Products & Services
Advertiser: RABODIRECT
Product/Service: BANKING
Agency: WHYBIN\TBWA
Date of First Appearance: Apr 10 2011
Entrant Company: WHYBIN\TBWA, Sydney, AUSTRALIA
Executive Creative Director: Dave Bowman (Whybin \ TBWA \ Tequila)
Executive Creative Director: Matty Burton (Whybin \ TBWA \ Tequila)
Senior Copywriter: John Mckelvey (Whybin \ TBWA \ Tequila)
Senior Art Director: Peter Glames (Whybin \ TBWA \ Tequila)
Director: Steve Ayson (The Sweet Shop)
Copywriter: James Ross-Edwards (Whybin \ TBWA \ Tequila)
Art Director: Derek Anderson (Whybin \ TBWA \ Tequila)
Art Director: Julia Elton-Bott (Whybin \ TBWA \ Tequila)
Group Accoint Director: Nitsa Lotus (Whybin \ TBWA \ Tequila)
Account Director: Holly Jona (Whybin \ TBWA \ Tequila)
Media placement: TV CAMPAIGN (3 SPOTS) - NATIONAL FREE TO AIR - SUNDAY 1OTH APRIL 2011

Describe the brief/objective of the direct campaign.
RaboDirect is relatively new, lesser-known online bank in Australia. Their offering of an online, high interest savings account aimed to hit the ambitious target of $1.5 Billion in deposits from new customers in 2011.

The brief was based off a little known fact:
Every year, Australians miss out on over $4.7 Billion ($5.1 billion USD) in interest by leaving their money in low interest savings accounts with the major banks.

The aim of the campaign was simple: call Australians to action to activate their idle savings with RaboDirect’s high interest promotional rate.

Describe the creative solution to the brief/objective with reference to the projected response rates and desired outcome.

In order to achieve our ambitious targets of $1.5 Billion in new deposits, we needed to engage the audience with a strong, personally relevant message that cut through the usual banking nonsense.

First, we pointed out and personified the problem:
The major banks are stealing your dreams. When you have money sitting in low-interest accounts, The major banks aren’t just stealing your potential interest; they’re stealing all of your savings dreams.

Then, we offered a simple solution:
Steal back your dreams with RaboDirect’s high interest promotional rate.

Explain why the creative execution was relevant to the product or service.
The major Australian banks are amongst the most profitable in the world. They make billions in profit by relying on the typical Australian ‘Set and Forget’ attitude to savings.
We are making them rich, and they love us for it.

RaboDirect is a straight talking, challenger bank with a genuinely competitive rate. They were in a perfect position to take on the major banks.

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.
With only 1% of the total media spend for the category (the major banks hold 80%) this campaign has already achieved:
- A 65% increase in new customers, compared to pre-campaign activity, averaging 380 new customers a day.
- Deposits, call centre volumes, web traffic, conversions and applications have all dramatically increased.
- The campaign, in its first month in market will easily hit its target of $125 Million, and is tracking well ahead of its ambitious $1.5 Billion for the year.
- Best of all, thousands of Australian dreams are on the way to becoming a reality