Bank of Melbourne Promo, Case study FAN FARE by Ogilvy & Mather Melbourne

FAN FARE

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Industry Banking & Financial Services
Media Promo & PR, Case study
Market Australia
Agency Ogilvy & Mather Melbourne
Associate Creative Director Jason Deacon, Kate Lightfoot
Creative Director Dave Scott
Art Director Jason Massarotto
Copywriter Emma Park
Producer Rebecca Williamson
Released July 2011

Credits & Description

Category: Financial Services, incl. Investor Relations and Corporate Finance
Advertiser: BANK OF MELBOURNE
Product/Service: FINANCIAL SERVICES
Agency: OGILVY MELBOURNE
Managing Partner: Michael Mcewan (Ogilvy Melbourne)
Creative Director: Dave Scott (Ogilvy Melbourne)
Associate Creative Director: Kate Lightfoot (Ogilvy Melbourne)
Associate Creative Director: Jason Deacon (Ogilvy Melbourne)
Copywriter: Emma Park (Ogilvy Melbourne)
Art Director: Jason Massarotto (Ogilvy Melbourne)
Strategy Director: Tim Evans (Ogilvy Melbourne)
Strategy: Adam Beaupeurt (Ogilvy Melbourne)
Account Manager: Georgia Field (Ogilvy Melbourne)
Account Executive: Ashley Wolff (Ogilvy Melbourne)
Producer: Rebecca Williamson (Ogilvy Melbourne)
Developer: Stefano Perfili (Ogilvy Melbourne)
Media placement: Internal Communication - - 06 July 2011
Media placement: Blogger Outreach (Social Media) - - 06 July 2011
Media placement: Influencer Outreach (Edm) - - 06 July 2011
Media placement: Event (Activation) - - 06 July 2011

Summary of the Campaign
Although it was announced in March 2011 that the Bank of Melbourne brand was being revived, the first branches would not be opening their doors until late July.

• Although it was announced in March 2010 that the Bank of Melbourne brand was being revived, the first branches would not be opening their doors until late July.
• Positioning themselves as a competitor to the big 4 with the localised service and products of a regional bank meant that Bank of Melbourne faced a large list of competitors and needed to distinguish themselves in the cluttered financial services market.
• In the weeks after announcement, Bank of Melbourne faced a range of questions about their offerings and were challenged to bring something different. With no products or services set in stone, answering was difficult. Only one thing was for certain: Bank of Melbourne would be for Victorians, by Victorians.
• Research revealed that we were speaking to the 50% of Victorians who prefer to bank with a regional bank, the same group of people experiencing the notorious woes of Melbourne’s public transport system.
• Introducing Bank of Melbourne’s Fan Fare: a social campaign to improve the daily commute of Victorians.

• With $25,000 of free public transport; we achieved the following results for Bank of Melbourne and more:

1. Our Facebook fan base grew by 5,470% from 600 to over 6,500.
2. Our registered database of potential customers more than doubled as it grew by 124.8%, from 1,756 to 3,947 exceeding our target of 2,500.
3. 100% retention saw each and every Victorian St. George customers happily transition to Bank of Melbourne.

The Situation
• In March 2011, Bank of Melbourne announced its revival. But it wouldn’t be until July 2011 before the first branches opened.
• We were establishing a brand and its unique selling proposition, without any products or branches to back it up.
• We needed to distinguish the brand in the cluttered financial services market.
• In the weeks after the March announcement, Bank of Melbourne faced questions about their offerings and were challenged to bring something different.
• With no products or services set in stone, we could only say that Bank of Melbourne would be for Victorians, by Victorians.

The Goal
Research revealed that we were speaking to the 50% of Victorians who prefer to bank with a regional bank. But with no products to sell, we needed to focus on acquisition of data, and the insulation of the brand.

Our key objectives were to:

1. Build support for Bank of Melbourne by increasing our positive sentiment (a Facebook page measurement) to above 80%
2. Increase our Facebook fan base from 600 to 4,600 in time for July 28 launch
3. Build a database of at least 2,500 potential customers

The Strategy
Based on these objectives, we knew that it wasn't enough for Bank of Melbourne to simply talk about how they were truly local. They needed to prove it.

We did this by answering a need that rang true amongst all Victorians. That need was better public transport. We then underscored the entire campaign with the single-minded proposition, 'For Victorians, by Victorians'.

Execution
Bank of Melbourne's Fan Fare: a campaign to improve the daily commute of Victorians.

• During the first week, free coffee was served to commuters during peak hour. Cups featured a clear CTA to 'improve your commute even more with $25,000 of free travel' by joining the Fan Fare on Facebook.
• On the way home, targeted press ads in MX featured cheeky headlines.
• At home, targeted Facebook ads asked questions such as: 'Got free time? Get free transport.'
• And finally, the brand identified 150 key influencers online and seeded the campaign to them, and in turn, their social networks.
• On the Facebook page, people shared their travel stories for the chance to win free travel.
• But it was gamification and an incentive to share that sealed our success. With each share, people went into a higher prize pool.

Fan Fare ran from June 29 - July 22 2011.

Documented Results
With minimal media spend, Fan Fare achieved the following results for Bank of Melbourne:

1. The brand's positive sentiment increased beyond our original 80% target to 85%.
2. Our Facebook fan base grew by 5,470% from 600 to over 6500. All before a single branch had opened its doors. That's 155% of the initial campaign target.
3. Our registered database of potential customers more than doubled as it grew by 124.8%, from 1,756 to 3,947 exceeding our target of 2,500.
4. Interactions with the brand on Facebook increased by over 3,418% compared to the pre-campaign period.
5. An astounding 81% of all participants shared the Fan Fare with friends
6. Leading to 6,585 people receiving a direct recommendation to join Fan Fare from a friend