RaboDirect: Waking up people's lazy money

Agency: Whybin\TBWA\Tequila

Advertiser: RaboDirect

Author: Hristos Varouhas

Total Campaign Expenditure: $5-10 million

STRATEGIC COMMUNICATIONS CHALLENGE

In early 2010, with little equity in its name, RaboPlus (the savings-only only arm of Rabobank) set itself the audacious goal of raising $1.5 billion in savings through their High Interest Savings Account (HISA) whilst at the same time relaunching itself as RaboDirect. This was a very ambitious task considering...

1. RaboDirect was a small unknown fish in a very big pond.

  • RaboDirect had $7.2m in media for the whole year - just 1% of the Finance category.

  • There were 117 authorised deposit taking institutions in Australia.

  • The dominant brands being the ‘Big Five’ (CBA, nab, Westpac, ANZ, St George) plus ING Direct, BankWest and Ubank accounted for 78% of the Finance category's Share of Voice (SOV). Sources: Adquest/Initiative Media.