Is it a bank’s job to help its customers save money? The more customers’ deposits remain in the bank, the more the bank can use the money to invest, so yes. It’s also the right thing to do.
But how? How does a bank move people to care about saving money, instead of spending money?
What if the bank hacked the algorithms? What if the bank turned modern marketing on its ear?
Fifth Third Bank’s new campaign—in partnership with Pereira O’Dell blocks social advertisers in favor of financial education.
Fifth Third’s “Buy Now Blocker” is a data-driven media buy designed to make people think twice before purchasing an unnecessary item and encouraging you to save for an absolutely necessary item. The “Buy Now Blocker” does not require a plug-in or download. Fifth Third just bought some of the most sought-after search terms, just like the retailers.
The aim of this campaign is to raise awareness around the brand’s free automatic savings products, which give people a better and easier way to save for the things they really need. Here’s how it works: Instead of viewing a normal social media ad, users view a minimally branded message that highlights the type of ad he or she might have been served.
For example, a “Buy Now Blocker” ad might read: “This could have been a handbag ad.”
What Are the Top 10 Terms That Your Customers Are Searching For?
Fifth Third’s retail customers are searching for “budgeting tips” and other terms on their machines. The bank found a way to innovate around their customers’ natural online behaviors.
What terms are your future customers searching for, right now? And more importantly, what are you prepared to do about it?
If your answer is to serve another ad, you might be the one who gets served.