Bank of Melbourne Promo, Case study THE LOCAL PROJECT by Ogilvy & Mather Melbourne

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THE LOCAL PROJECT

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Industry Banking & Financial Services
Media Promo & PR, Case study
Market Australia
Agency Ogilvy & Mather Melbourne
Executive Creative Director Richard Ralphsmith
Creative Director Dave Scott
Designer Samuel Luke, Ryan Goodwin-Smith
Producer James Oppenheim, Felicity Schneider
Editor Peter Flaherty
Released February 2012

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)
Executive Creative Director: Richard Ralphsmith (Ogilvy Melbourne)
Creative Director: Dave Scott (Ogilvy Melbourne)
Strategy Director: Tim Evans (Ogilvy Melbourne)
Strategy: Adam Beaupeurt (Ogilvy Melbourne)
Creative Team: Jason Deacon (Ogilvy Melbourne)
Creative Team: Emma Park (Ogilvy Melbourne)
Account Management: Stephanie Goldwater (Ogilvy Melbourne)
Producer: James Oppenheim (Ogilvy Melbourne)
Producer: Felicity Schneider (Ogilvy Melbourne)
Design Director: Jason Massarotto (Ogilvy Melbourne)
Designer: Samuel Luke (Ogilvy Melbourne)
Designer: Ryan Smith (Ogilvy Melbourne)
Front-End Development: Stefano Perfili (Ogilvy Melbourne)
Back-End Development: Luciano Di Leonardo (Ogilvy Melbourne)
Group Director: Emma Fawcett (Herald Sun)
Account Manager: Nik Doble (Herald Sun)
Editor: Peter Flaherty (Herald Sun)
Digital Account Manager: Susie Kyrou (Herald Sun)
Group Account Director: Shaun Briggs (Mediacom)
Media placement: Internal Communication - - 28th January 2012
Media placement: Consumer PR - Herald Sun - 30th January 2012
Media placement: Digital PR - news.com.au - 30th January 2012
Media placement: Local Government PR - Multiple - 1st February 2012
Media placement: Social media outreach - Multiple - 1st February 2012

Summary of the Campaign

The Bank of Melbourne launched in 2011 as a regional bank 'by Victorians, for Victorians' after the marketplace called for more locally operated banks.

Sales targets hardened as competition intensified, and it became increasingly important to prove the brand was truly locally oriented.

Research revealed our audience defined a regional bank by what it actually contributed to the community, not what it claimed. So the strategy was simple: prove Bank of Melbourne’s commitment to the community by handing over the keys to the sponsorship fund.

But, because new brands can lack credibility, we needed perceptions to change. We needed the public to speak on our behalf.

A partnership was formed with the voice of the community, the largest newspaper in the state, and the brand with the strongest, closest relationship with the public: The Herald Sun.

Together, we introduced The Local Project.

Citizens, councils and community groups submitted projects and ideas that demonstrated real outcomes for their communities. Voting was opened to the public, entrusting people to choose the projects most meaningful to them.

Project owners were equipped to rally their communities, to publically promote themselves online and to local news outlets.

Over the 8-week campaign, AUS$100,000 was awarded to 10 projects from over 17,000 public votes, 25% of which were directly referred by other community members.

Upwards of AUS$1m was earned in media, which positively influenced brand sentiment by 11.9%.

Sales during the campaign increased by [TBC%], [TBC%] above target.

The Situation
• Research showed that 50% of Victorians prefer to bank with a regional, or local, bank.
• Bank of Melbourne was launched as a regional bank for Victoria in 2011 in response to this need.
• Competitors caught wind of the shift in consumer preference.
• As the presence of regional banks in Victoria trebled, major national banks launched localised campaigns claiming their investment in local communities.
• Even though Bank of Melbourne had invested (700 jobs, 50 branches and millions of dollars) it risked being just another name, with the same message, in a crowded market.
• The Bank of Melbourne needed to define themselves.

The Goal
The campaign:
• Had a business objective to exceed the sales target of 4,000 account openings, per month, over the campaign period.
• Needed to build consideration by building trust with Victorians.
• Needed to support the bank’s proposition of being ‘closer to their customers’.
• Needed to speak to the 50% of Victorians who prefer to bank with a regional bank.
• Research indicated the audience was more concerned about their local communities because they are emotionally and financially invested in them.
• Needed to connect Bank of Melbourne with this disposition.

The Strategy
We needed to:
• Prove the Bank of Melbourne’s commitment to Victoria by involving and including our customers in decision-making processes.
• Relinquish control of a portion of the sponsorship fund, and let the community decide where it’s most needed.
• Demonstrate to Victorians that we understand they want to contribute to their community. People can find it hard to commit, so we made it easy for them to contribute by bringing community problems, community champions and the real outcomes to their desktops, via social media.
• Add credibility. As a new brand entering an untrusting market, Bank of Melbourne lacked credibility. To add authenticity to the campaign, we needed to enlist the help of a partner who was an already established voice of the Victorian community.

The Local Project by Bank of Melbourne & Herald Sun.

A partnership between Victorian communities and Bank of Melbourne.

Execution
• 30 January 2012. Campaign launched with a call for project nominations via PR, Herald Sun editorial and paid print advertising, online and social media.
• DM and eDM were sent to local councils, community leaders and groups, and online influencers campaigning support.
• 6 February 2012. For 1 week, the campaign overtook inner city tram and bus stops.
• Stories of projects were published weekly in the Herald Sun, and promoted on social media.
• 27 February 2012. 50 projects were published in the Herald Sun, the Facebook voting application was launched, and the online display campaign began.
• Further DM and eDM were sent to community leaders and online influencers campaigning support.
• Projects received a self-promotion toolkit, prompting they reach out to local news sources, and rally their communities.
• 9 March 2012. Weekly, for 5 consecutive weeks, the Herald Sun published 2 projects which were awarded $10,000 each by the Victorian public.

Documented Results
• Sales during campaign [TBC]
• Account sign-ups increased by [TBC]%
• Over AUS$1m in earned media
• 24,000 unique visitors in 8 weeks
• At least 25% of all participants were directly referred by other members of the community
• 91% of voters were non-Bank of Melbourne customers, opening up a whole new audience
• Moved to 1st place in online share of voice during the campaign period
• Conversation around the brand increased by 300%
• Sentiment increased by 11.9%
• The Local Project returned AUS$3.35 for every AUS$1.00 spent