Malaysian Media Awards Winners Showcase

2013 | |

The Blue Ocean of Gold

Advertiser: CIMB Bank
Brand: CIMB eGold
Creative Agency: iProspect Malaysia
Credits: Vizeum Media Services — June Tee (Digital Director), Joanne Yau (Client Services Director), Kenneth Wong (Senior Media Planner), Tan Soon Liang (Digital Director), John Loke (Digital Planner), Ooi Hoay Lee (Buying Manager) / CIMB Bank — Catherine Kiong (Assistant Manager)

CIMB Bank is late in the game of offering gold investment account to retail investors. Maybank, Public Bank and KFH dominated the category with traditional media campaigns and non-stop promotions. We did not want to play catch up with competitors. We needed a blue ocean strategy. 

Traditionally, gold has always been an investment product amongst savvy investors who are older and affluent. However, Google Trends showed that there is a wave of younger investors who are interested in this category. Our Blue Ocean strategy? 1. Use Search, minimal newspaper or magazines 2. Move away from older savvy investors to the “virgin gold investors” 3. Instead of promotion and prizes, we educated.

Unlike older investors, Gen Y has limited experience, knowledge and budget. With that, calculated risk and research is crucial. Understanding the young gold investors’ mindset, we dominated keywords in the users’ research phase. “how to buy gold”, “gold as investment”, “gold vs USD” We also ensured keywords and ad copies covered seasonal factors as gold prices fluctuated and attracted more demand during CNY period. 

Campaign covered SOV of 80%, garnering more than 1000 clicks/day and had more than 600 gold investment account sign ups. With a healthy market demand in this category and the expansion of a new market, we doubled the targeted business by 200%! Successfully found the buried treasure through Search.