Launching Lithuania’s first finance novel: The Money TreeChallengeTo raise public awareness of personal finance management by applying a creative solution: Lithuania’s first finance novel. The budget for launching this unique product was relatively small, especially considering only 30% of Lithuanians read books regularly. Another challenge was avoiding criticism, given that the author was not a professional writer.

ObjectivesTo improve the prominence of the author (a personal finance expert at SEB bank) and strengthen the bank’s reputation as a financial advisor. Criteria of success included selling out the book’s first edition and receiving widespread, positive media coverage.StrategyAs financial superstitions are common in Lithuania, we positioned the book as a ‘financial superstitions-busting book’, building the whole integrated communication campaign on this concept.

ExecutionOur consultant helped write the book, and we used a famous literary critic’s review to pre-empt criticism. We also organised an integrated communication campaign, employing lifestyle media, a viral movie, a blog, social networks, and numerous direct meetings with target audiences.Outcome• The book became a bestseller• Nearly 100 references in the local media• The viral movie was watched almost 28,000 times• The book gained nearly 500 fans on Facebook

Firstly, our consultant helped Ms. Varanauskienė write the book. To preclude negative criticism, we asked a famous literary critic to write a review, which we put on the book’s cover and quoted in a press release.July 14th, we organized a personal finance management online conference in the most popular Lithuanian news portal. Afterwards, we invited lifestyle media editors to a ‘five-o-clock tea’ with several popular female presenters to discuss financial superstitions and present the book. A Facebook group and blog written by the book’s protagonist also launched the same day.Afterwards, we distributed the press release and copies of the book to magazines that had not attended the event. With Lithuania’s most popular viral-movie director, we created a film called ‘Hexes, superstitions, and other nonsense’, which lead viewers to the book’s website. As Ms. Varanauskiene has regular meetings with the regional media, we also presented the book to them.

Monitoring analysis shows that Ms. Varanauskiene’s popularity increased significantly during the campaign, she continues to maintain the position.The book itself became a bestseller: the first edition sold out in a month and still ranks in most bookstores Top-10 lists. Two subsequent editions are also close to selling out. Nearly 100 references in the local media appeared, the viral movie was watched almost 28 thousand times, and the book gained 500 Facebook fans. These are great results for a book in Lithuania, considering the huge competition, the fact that only a third of Lithuanians read books, and the relatively small budget of the whole campaign (50,000 litas – nearly 15,000 euro – including technical costs).

The book’s communication campaign was very positive and contributed to SEB bank’s reputation as a financial advisor. Considering the negative information being spread about banks during the economic downturn, this represented an especially significant achievement.