LAURENTIAN BANK OF CANADA Promo, Case study OPEN HOUSE RADIO by BleuBlancRouge Montreal


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Industry Banking, Banking & Financial Services
Media Promo & PR, Case study
Market Canada
Agency BleuBlancRouge Montreal
Released March 2009

Credits & Description

Category: Best Use of Radio
Product/Service: MORTGAGES
Date of First Appearance: Mar 15 2009 12:00AM
Entrant Company: BLEUBLANCROUGE, Montreal, CANADA
Vice President Marketing: Stéphane Gagnon (Laurentian Bank of Canada)
Marketing Director: Marie-Pierre Lépine (Laurentian Bank of Canada)
Vice President/Media Director: Claude Lamoureux (Bleublancrouge Média)
Media Strategist: Anne-Marie Buchanan (Bleublancrouge Média)
Media Buyer: Nicole Viger-Collins (Bleublancrouge Média)
Executive Vice President Consulting Services: Benoît Chapellier (Bleublancrouge)
Account Director: Jacynthe Prince (Bleublancrouge)
Executive Vice President Creation: Gaetan Namouric (Bleublancrouge)
Group Manager: Annick St Onge (Astral Media Mix)
Media Creativity Representative: Anne Des Rochers (Astral Media Radio)
Sales Representative: René Daigneault (Astral Media Radio)
Media placement: Radio Campaign - Virgin 96 - 15/03/2009
Media placement: Radio Campaign - NRJ 94.3 - 15/03/2009

Results and Effectiveness
Laurentian Bank not only wiped out its $100 million shortfall, it also increased mortgage commitments 20% compared to the same period the previous year. In fact, Laurentian Bank literally broke its all-time sales record for mortgage commitments! The product webpage registered an increase of 676% of unique visitors compared to average traffic. Special phone lines activated only during the Sunday Open Houses generated more than 650 calls: that was millions of dollars on the phone.

Creative Execution
Our strategy led us not only to make radio our primary medium – perfect to reach our mobile target, on the road – but also to use it as no other advertiser had done before. Over close to 2 months, Laurentian Bank took over the entire Sunday 2 to 4 time slot on NRJ and Virgin, two top radio stations and two of the best-performing stations for the target market. Absolutely no other advertiser could be heard—not even for a 5-second weather billboard. We dispensed advice to prospective buyers and entertained them by presenting an unusual assortment of vignettes that covered various facets of property ownership and financing—a heady mix of information and humor. This impressive radio blitz was fully integrated into the stations’ programming, including content and live segments every Sunday by the stations’ top announcers. Every Sunday, 26 minutes of original made-to-measure content was aired.

Insights, Strategy & the Idea
February 2009. Laurentian Bank had just experienced a tough quarter for mortgage commitments due to the economic crisis. Objective: wipe out a $100 million shortfall in mortgage commitments over a brief period of time. We would target first-time homebuyers — the group with the greatest acquisition and development potential. We understood the stress and emotional charge associated with buying a house. We also knew that buyers almost always go to see homes on Sundays between 2 and 4 pm, one of the most emotional and stressful parts of the process. We decided to tap onto that key emotional moment: we would become the Sunday Open Houses leader and accompany the target in this high-stake moment with insight-based entertaining content, advice, and product-driven information. We created “The Laurentian Bank Open House” – a two-hour 100% exclusive radio programme - the first-ever advertising blitz in the history of NRJ and Virgin.