Transcript of "Marketing of the Youth Package in collaboration with INSTRUMENTI"
Category: SPONSORSHIP SEB banka (Latvia)Marketing of the Youth Package in collaboration with INSTRUMENTI Summary When planning for new product development at the end of 2010, the development and marketing of the Youth Package was defined as one of the priorities. To continue communication, as well as to actively market this service, a search for a ‘golden key’ began which would allow one to actively reach young people. In the beginning of 2011, SEB banka began collaboration with the music group INSTRUMENTI (representing the electro indie-pop genre), one of the most successful music groups in the Baltics. The band drew our attention because they were different from other music groups and used similar tactics to SEB in their communication with the youth. The bank and the band shared common values like quality, serious attitude and the use of various unconventional methods. Throughout the year we planned different campaign activities together with the band, using contests, blogs, interactive game applications, and integration of the INSTRUMENTI band image in our sales promotions, and during the final stage – engaging our customers in INSTRUMENTI concerts in Latvian towns. In the end, our sales volumes reached 145%, and our Draugiem page increased the number of followers more than 3 times and ranked 2nd among all Draugiem pages throughout 2011. By the end of 2010, the average age of the page followers was 15, but, with the help of this campaign, we reached the desired target audience age of 20 years, which is the target audience for the bank’s services. Situation In the summer of 2011, SEB planned to market a new and improved offer – Youth Packages, which included day-to-day services like payment cards, online banking, SMS banking and accident insurance. Primarily, we wished to capture the attention of youth by using recognisable characters and topical events at the time in society. Studies conducted before the collaboration with INSTRUMENTI showed that youth are particularly interested in music, entertainment, having fun with friends, and actively using social media. The bank’s social media communication with the youth is organised through its Draugiem.lv Student Bank page, which is exploratory and focuses on an active lifestyle, similar to the INSTRUMENTI band. ObjectivesTo develop an integrated communication campaign by closely incorporating the image of the INSTRUMENTI band in the sales communication of the bank’s services by significantly increasing recognition among students of secondary schools and universities.To develop an application in the main communications platform on the social media site Draugiem.lv, reflecting the close collaboration between the bank’s services and INSTRUMENTI, as well as frequently update the INSTRUMENTI blog section with news about the band.To provide an opportunity for the most active social media users to meet the band members (dinner, different competition awards, disc presentation events, visiting the Meet & Great area during the band’s concerts in Latvia).To strengthen the brand values and recognition, and thereby attract new customers.To ensure the participation of the bank as the main supporter in all activities of the INSTRUMENTI band throughout the year. StrategyIn realising our collaboration with the INSTRUMENTI band, it was important for us to strengthen the assurance of young people that a financial institution is able to communicate with them in a comprehensible and fun way and to think in the same categories as the youth think, as well as to strengthen the existing customer loyalty to the bank’s services. Baltic PR Awards 2012
Category: SPONSORSHIPThe Student Bank page at the social media site Draugiem.lv was promoted as the official information resource about the news and planned activities of the INSTRUMENTI band and a venue for interactive contests.In the bank’s communication, the presentation, design and communication language of youth products (marketing materials, gifts to customers, outdoor and internet advertising) was adapted to the image and style of the INSTRUMENTI band, to demonstrate the similarities between the band and the bank. Various competitions provided SEB customers with the opportunity to offer their ideas to the band (making song videos, T-shirt design contests, sharing ideas, providing answers to various questions, etc.). ExecutionAt the beginning of 2011, the youth were given a task to create a video clip for one of the band’s songs. 20 videos were nominated for public voting. The winner was awarded with a trip to Iceland during the time when INSTRUMENTI were recording their new music album there.After INSTRUMENTI finished recording their new album, the bank launched a new product – Youth Package, and the musicians became the face of this new product.An interactive game application Finanšu INSTRUMENTI (Financial Instruments) was placed on Draugiem.lv in order to promote these services to young people. The game was based on an arrangement of a song of each player’s preference.On 30 August 2011, there was a presentation of the new INSTRUMENTI album TRU. 300 of the most active followers of the Draugiem profile were invited to this event.The band met students at universities and invited them to create T-shirt designs related to the band’s concert tour. The winners were awarded with cash prizes, Meet & Greet invitations to an INSTRUMENTI concert, and a SEB Style Card.One of the business sustainability priorities of SEB is environmental protection in cooperation with WWF. In March, the world celebrated Earth Hour, so we created a video together explaining how to turn off lights and unused appliances. Documented ResultsIn 2011, the bank attracted more than 18,500 new customers, which exceeded expectations by more than half. As pointed out by the bank’s employees who met with the customers, the collaboration with INSTRUMENTI had greatly improved the sales argumentation process.At the end of 2010, the SEB Student Bank page had 6500 followers, but in December 2011 it had already almost 23,000 followers, with the average age increasing from 15 to 20 years. The Bank has maintained a steady position on the Draugiem.lv top ten monthly charts throughout the year. All basic criteria have been met – the number of followers has gradually increased, the existing followers regularly view the page, opinions are being expressed in the comments section, and the site information is being actively shared.Sales promotion activities of the Youth Package were actively integrated into other bank-sponsored events for students and youth, such as Student Days in Jelgava, Love Festival and various regional and local university events. Baltic PR Awards 2012