Capitec Bank Promo, Case study SWAPPING MALL by Atmosphere Communications

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SWAPPING MALL

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Industry Banking & Financial Services, Corporate Communication
Media Promo & PR, Case study
Market South Africa
Agency Atmosphere Communications
Creative Director Tyrone Beck, Dan Pinch
Released July 2011

Credits & Description

Category: Financial Services, incl. Investor Relations and Corporate Finance
Advertiser: CAPITEC BANK
Product/Service: CORPORATE COMMUNICATION
Agency: ATMOSPHERE COMMUNICATIONS
Creative Director: Dan Pinch (Society)
Account Director: Rebecca Cronje (Atmosphere Communications)
Managing Director: Howard Simms (Hammer Live Brands)
Creative Director: Tyrone Beck (Switch Design)
General Manager: Annemarie Blaensdorf (Mnemonic)
Social Media Creative: Alana Cremonte (Society)
Media placement: Consumer PR - - 1 - 31 July 2011

Summary of the Campaign
How do you get residents of the 'City of Gold' to stop spending recklessly?

The Goal
Encourage a healthier attitude, amongst our audience of urban 20-somethings, to money management.

Communicate that Capitec Bank was actively involved in trying to change attitudes to spending and unlike many traditional banks putting the consumer’s interests first.

The Idea
The number 1 place for our audience to hang out in Jo’burg (also known as The City of Gold) is the mall.

We illustrated that saving money didn’t need to be dull by launching a Swapping Mall during National Savings Month.

A barter system was invented and South Africans were invited to swap goods instead of spending cash.

Swaps were carried out through social media channels and with journalists in advance to illustrate the idea.

Results
4.8m media impressions through media and blog coverage, Facebook posts and Twitter.
The campaign, by illustrating the bank was on the side of the consumer, contributed substantially to an increased sign-up rate of 43% to 100,000 new customers a month.

The Situation
Traditionally banks have encouraged South Africans to spend more money and take on increasing amounts of debt. But the mistrust resulting from the global recession towards bankers has created a backlash against the industry. This has opened the door for Capitec Bank, a challenger to the local banking establishment, to promote a healthier approach to money in South Africa’s overtly materialistic society.

The Goal
Encourage a healthier attitude, amongst our audience of urban 20-somethings, to money management.

Communicate that Capitec Bank was actively involved in trying to change attitudes to spending and unlike many traditional banks putting the consumer’s interests first.

The Strategy
Banking is boring and people generally don’t listen to good advice about saving money. We needed to involve people in an activity that showed there was more to life than hanging out in the mall and start a conversation about creative ways to do more with less.

We decided to tackle the problem at the heart of materialism-obsessed Jo’burg (even its nick name is The City of Gold). During National Savings Month (when a wider body of media would be open to our message) we piggybacked off what Jo’burgers do best - shop in the mall - and launched a unique concept: The Swapping Mall, a place where locals could bring their unwanted goods and swap them for those things they really wanted.

Execution
We created a spoof shopping mall with different areas: decor, toys, books and fashion. A simple exchange system was communicated to attendees in advance.

To encourage the sharing of the objects, each story item was tagged so its previous owner could tell its story. Then bloggers and media were invited to pre-swap. The team chose personal items that appealed to their contacts and invited them to start the swap and come to the event. Their items were added to the event with the object's history written on tags attached to the items.

We involved local upcycling designers who turned old objects into new goods to run workshops. These were profiled in the media pre and during the event. Swaps took place with Capitec’s Facebook and Twitter community successfully extending the idea online.

Further to telling South Africans about the Swapping Mall in an extensive media relations campaign, we also placed imaginative stories of other innovative ways to save money.

Documented Results
We achieved the following results:

- 4.8m media impressions/estimated reach through 44 items of media coverage with the majority of the free editorial coverage in lifestyle media and blogs ensuring reach far beyond the finance media pages
- 328,000 media impressions/estimated reach through Facebook and Twitter
- 700 consumers visited the Swapping Mall and over 3,000 swaps took place at the event and online
- The campaign, by illustrating the bank was on the side of the consumer, contributed substantially to an increased sign-up rate of 43% to 100,000 new customers a month.
- The Swapping Mall campaign kick-started a trend of swapping parties in South Africa

“The Swapping Mall was a stand-out success and played a significant role in growing Capitec’s client base, which today attracts on average 100 000 new clients a month." Carl Fischer, Head of Marketing and Corporate Affairs, Capitec Bank