RaboDirect: Steal Back Your Dreams
Agency: Whybin\TBWA Sydney
Author: Hristos Varouhas
Total Campaign Expenditure: $5 – 10 million.
Please Attach the Executive Summary to the front of the entry so the judges can read this first. An Executive Summary of no more than 100 words is also required (not included in page count).
In a risk-averse environment where consumers favoured big trusted bank brands, RaboDirect increased deposited savings by a staggering amount – all with just 2.7% share of voice (SOV) – meaning it achieved a 26:1 ROI.
This was an incredible result given the Big Five banks accounted for 83% SOV and, just days prior to RaboDirect's campaign going live, CBA launched its highest ever profile campaign "turning can't into can".
Incredibly, RaboDirect's cumulative growth rate (of deposits) was 52% higher than CBA's and 439% higher than the bank deposit savings category. This achievement was made possible by RaboDirect's provocative advertising that jolted risk-averse savers into 'stealing back their dreams (i.e. forgone interest) from the big greedy banks'.