After years as a private banking institution, Seattle Bank needed to introduce itself to a new group of people that could fuel their future; people that were younger but on an upward career trajectory that offered a higher household income.
But changing banks is hard; in fact, the thought of it is daunting. Changing banks to a bank you’ve likely never heard of, even more so. So we offered a carrot: an unsecured personal line of credit. In simple terms, a PLOC offers access to a reserve stash of cash that you only pay interest on when you use it.
For a group of people who don’t want to miss out on life, but whose finances are also ‘fully allocated’ - this was a meaningful offer.
Put simply, we had to introduce this virtually net new bank and net new product offering to a net new group of customers…building consideration and interest. And do it on a media budget of less than $150,000.
In a world where so much of the financial conversation feels dire and negative (cue: recessions, etc) - we sought to offer optimism. And all too often banks take themselves, and banking, so seriously. And while finances can be serious, we can also enjoy conversations about money. This effort celebrates that - focusing on possibilities and passions. Many people have worked hard to get where they are and they should enjoy that while they’re able. Instead of waiting, they should enjoy things now.
It is time to #Fund Yourself.
There’s no one our ‘financially free’ audience should believe in more, than themselves. They have achieved a lot already and they know big things are on the horizon. Even if they're in their mid-30s, they haven't given up on your dreams just yet. So instead of ETFs, the stock market, bonds, or hedge funds, why not encourage them to invest in themselves instead? Maybe that’s literal like an extended education or a new business venture, or maybe it’s something less tangible like a 6 month trip around the world that will offer inspiration or a sense of purpose.
Regardless of what you want to use your money for, a Personal Line of Credit could help. Because it’s truly a PERSONAL line of credit. We could encourage them to go ahead, apply for a PLOC and “go fund yourself.”
Our digital-first approach was designed to meet our ‘financially free’ audience where they were and nudge them to #fundyourself.
Every interaction was designed around possibilities, creating visibility and distinction for both the brand and the product.
In 10 weeks we created a spike in both visibility and interest for Seattle Bank and the PLOC.
#FundYourself content was viewed over 1.6 million times - in full (creating an average CPCV of less than a $.03).
We doubled the number of new users to the site.
We created a 22% lift in organic search and a 130% increase in direct traffic to the site.
We drove a 10% Visit to Apply Rate vs. a Financial Services average form rate of 3-5%.