Advertiser: Hong Leong Bank Brand: Hong Leong Bank Creative Agency: - Credits: -
Hong Leong Bank (HLB) wanted to increase deposits. Their target? People with Fixed-Deposits (FD) and Islamic-Fixed-Deposits (FDi) accounts from other banks. Problem is, withdrawing and transferring your FD is complicated and most customers won’t bother.
Insight, Strategy and the Idea
Financial Process Exchange (FPX) is a secure online payment gateway system. It allows customers to transfer funds between participating financial institutions. HLB introduced FPX Solutions in 2016, and invited FD and FDi holders from other banks to transfer funds to HLB. We were the first bank to initiate this. The proposition: 1) Withdrawing your FD and FDi is quick and painless 2) You’ll enjoy very exclusive promotional rates As well, research showed that a segment of our population is sensitive to interest rate fluctuations.
We used INTEREST STACKING as a strategy to keep the net tight and allow zeroing in on an audience quickly. (1st level of interest targeting – Custom affinities) Display ads highlighted promotional rates, targeting custom affinities based on interest in competitive banks (2nd level interest stacking – custom defined In-Market audiences) Remarketing to audiences in social media and financial forums as these group represented audiences who were actively talking and in market for financial products CONSIDERATION (3rd level of interest stacking – brands level keywords in SEM) leading search impression share for Branded and Competitive keywords to engage and drive funds to HLB.
Results and Effectiveness
Display campaign: 24 million impressions Search drove 29,464 clicks to the promo page, with CTR of 18.44% and CPC of RM0.90. Delivered SOV at 75% (80% in Competitive and 99% Branded terms). Facebook drove 72,170 post engagements, with 245 comments, 359 shares Post campaign- 1,500% increase in transactions, 1,840% increase in amount invested. Altogether, there were 534 New-To-Bank customers, 4,327 New-to-HLB FD customers, and 1,680 New-to-HLB Connect customers.