To launch the Simply Free Account and communicate that it is a best in class account. Promote knowledge of its benefits, and increase new member acquisition by driving consumers to Island Savings branches.
Bank service charges are a primary pain point for todays price sensitive consumers, inhibiting member growth and contributing to defection. Many banks offer “free” accounts requiring minimum balances and other strings that do not make them truly free.
In 2015, Island Savings launched The Simply Free Account, Vancouver Island’s first and only free checking account offering no monthly fees or service charges. In order to sway consumers to switch to Island Savings, our strategy focused on breaking free from their current fee-heavy accounts, and outlining the simple structure and benefits of the Simply Free Account.
To convey how liberating the Simply Free Account is, we designed online display ads that expanded and contracted with an animated weight, inviting consumers to click through to break away from fees.
In addition, potential new members were targeted with a direct mail campaign, radio, transit, posters and print advertisements with the intention of connecting with the busy target market in their day-to-day interactions. The creative for these components focused on literally breaking free from barricades, such as fences and brick walls.
This fully integrated campaign also included an interactive social media and street level “Free Friday” initiative, focusing on the simple things in life. Each Friday of the campaign, Island Savings offered the public free items, such as coffees and gift cards.