Creative Business Transformation > Business Design & Operations
SIOUX MEET CYRANOS, Madrid / BANKINTER S.A. / 2020
Overview
Credits
Why is this work relevant for Creative Business Transformation?
Bankinter had plans to continue growing, but in March 2020, with such a severe crisis, a pandemic, only a clever storytelling would not be enough. We should contribute with actions, a series of unprecedented measures to help customers and employees affected by the pandemic.
More than 6,000 Bankinter employees worked in record time to implement Covid-19 specific relief measures, the basis for our communication.
What no one imagined is the impact and social recognition that turned the bank's advert, MONEY, in an anthem of hope for the entire country, and our sales followed.
Background
Bankinter had plans to continue growing their customer base and recover the Spanish financial category reputation after the 2008 financial crisis, with a new positioning, “The bank that sees money the way you do”. But in March 2020 we should contribute with actions, a series of unprecedented measures to help customers and employees.
Bankinter set itself an ambitious challenge: recovering people's trust and changing society's perception of the banking sector, placing the brand at the height of its achievements in terms of awareness and perception during 2020.
Business objectives: Demonstrate the strength, agility and resilience of the bank in such a challenging and complex environment showing the support to its customers and employees.
Marketing & Communication Objetives: Build a brand image of a bank that is not as cold and disengaged.
Strategy & Process
All strategic decisions are based on a thorough reflection process based on the customer experience.
In December 2019, qualitative research was performed among customers who were self-professed haters and lovers. The objective was to identify the common factors in terms of the behavior of Bankinter customers. Two fundamental elements were identified by both groups: on the one hand, the seriousness and professionalism of the bank; and on the other, they said of themselves, that the financial culture and level of education of Bankinter's customers was superior when compared to other banks.
To briefly summarize the 3 most relevant strategic decisions that we have taken during the process of defining the brand territory, and the preparation of the campaign, they could be divided into 3 key concepts: TRUST – RESPECT – EFFORT.
As a result, Bankinter knows all too well how much their customers' money is worth, which is why the bank believes that “when it comes into our hands, we have to take care of it as if it were our own”; “because if something is important to you, it should be important to your bank”.
Experience & Implementation
Bankinter became the company that is most committed to society (48%), twice as much as other banks. People made the advert their own. They posted their own versions on their own channels, accumulating more than 850.000 views, and some neighborhoods played the song at noon when going outside to applaud and support health workers.
When the pandemic hit, Bankinter created a package of measures that responded to their clients’ needs in record time. More than 6,000 employees worked in record time to implement the specific relief measures, the basis for our communication. This relief package included loans, interest moratoriums, interest fee credit cards and more.
We decided to use bank notes as visual resource to humanize the economy. Each customer's money is worth more than anybody else's, as we have earned it ourselves.
Our target changed: We were no longer talking to prospective clients but TO OUR clients, knowing very well that Bankinter’s quick reaction would be our best recruitment strategy.
Business Results & Impact
More than 6,000 Bankinter employee's worked in record time to implement the specific relief measures, the basis for our communication.
Bankinter experienced the largest balance growth in the shortest space of time over the past 10 years. The annual forecast in terms of attracting liabilities was surpassed during the first weeks of May.
Google searches for Bankinter.com grew by 13% and we recorded 442,788 unique users, of which 93.63% were NEW.
Organic searches grew by 56% in the month of April, the largest growth experienced by any bank.
Discounting factors, without this campaign, the number of acquisitions during the state of alarm would have been 27% lower.
Despite the impact of COVID, online customer acquisition has grown by almost 21%.
During lockdown, digital acquisition increased, and total acquisition fell dramatically on account of the closure of branches. Digital acquisition rebounded for a second time during the launch of the “Money” campaign and acquisition through other channels increased to pre-Covid levels.
The cost per acquisition dropped by 8.6% year on year (January to May)
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