On the night of April 8, 2020 we launched a 2-minute spot called "Dinero" (Money) to reposition the Bankinter brand. We chose the eve of Maundy Thursday because we knew that the whole country would be confined to their homes, unable to go out, travel or see their loved ones. It was the first day of the most difficult Holy Week we have ever seen. Our campaign message was based on a series of "Specific Measures" that the bank implemented in record time to help its customers and companies to alleviate the economic impact of the pandemic that had just begun.
However, Bankinter's goal in 2020 was to attract customers through its interest-bearing accounts. The launch of “Money”, an account campaign with a very aggressive commercial proposal, had already been planned, but we decided to halt it. In the midst of a pandemic - and being newly locked down - such a message was out of place. It seemed unethical to ask people to change banks at a time of widespread shock.
However, some months later, once we accepted the "new reality" in which we all had to live, Bankinter set out to achieve its commercial goals for 2020 before the end of the year, and so, coinciding with the "back to school" season, on September 13 we launched a product campaign bringing back the commercial offer we had stopped in March. And then“Portraits” was born.
1. Accelerate the recovery from the impact of the coronavirus by increasing customer acquisition.
2. Facilitate the entry of new customers by easing the conditions dependent on their level of income.
3. Expand Bankinter's customer base by attracting households with annual incomes of less than €40,000.
1. Continue to build the image of a bank that is open, friendly and committed to society at large.
2. Improve awareness of the bank by maintaining the advertising visibility achieved with our new positioning: The bank that sees money the way you do.
3. Promote a change in the perception of the sector, inspiring confidence and making your effort to earn money worthwhile: 5% APR on all the bank's accounts.
In a context completely shaken by the economic slowdown, we understood that helping individuals had to be our priority. Keeping in line with Bankinter's positioning and values, we had to focus on people's needs. The drop in consumption, the closure of shops and bars and restaurants, as well as the massive labour force adjustment plans, created a scenario in which our commercial proposal was more relevant than ever because we could offer the highest return on market accounts. Opening a Bankinter account would be a financial help in itself; it meant getting more for the money you earn.
In April, with Money, we understood that the opportunity lay in not selling and in communicating our support; in September, with Portraits, Bankinter wanted to encourage the arrival of new customers by lowering the minimum income requirement to €800. The decision was to help by selling to strengthen the new positioning and democratise the access to the advantages of our accounts.
After the success and social repercussion reached with the "Dinero" campaign, it was a creative challenge to continue building the brand. It was essential to solidify the proposal by executively reformulating the way of doing it. That's why we decided to keep ELE's voice and music to connect one campaign with another, but this time, changing the lyrics of the song, and giving face to the real people who, with their daily work, are the protagonists in the struggle to move forward and slow down the effects of the pandemic.
"Portraits", the campaign, is a tribute to those unsung heroes, to those ordinary citizens whose work and daily effort are an example to society and, above all, an example to those politicians and rulers whose behaviour is not up to their Jobs. The spot Portraits shows the lives of real people as they are portrayed by a real banknote illustrator. We wanted their faces to appear on the banknotes, taking the space that kings, revolutionaries and rulers always take away from the true protagonists of the story.
• From the launch of the campaign until the end of the year, we managed to attract 34.9% more customers than in the same period of 2019.
By month, the growth compared to the previous year was as follows:
Sept: +30,1% > Oct: +19,1% > Nov: +31,6% > Dec: +31,0%
• By segments, in the Sept-Dec period.
Personal Banking: +22% > Retail Banking: +35,8%
• The Portraits campaign increased the differential perception of Bankinter as the institution most committed to society thanks to its measures against the crisis and its financial aid.
• It increased brand awareness among those impacted with the campaign to the same levels as those reached by “Money”.
• “Portraits” made Bankinter customers feel that their bank was more reliable, transparent and had better products.
*(Sources: Bankinter's Internal Business Data and qualitative and quantitative study prepared by Big Band)
If Bankinter says that the true tribute is that who should appear on the banknotes of a country are the people who carry it out ... there was no better way to make it happen! With this action, Bankinter allows each person to be given the importance they deserve, placing their face where that of great world leaders has appeared, a banknote.