2004 BEST DEMONSTRATION OF RESULTS WINNER

WINNING ENTRY - Capitilising on the renovation boom - Viridian campaign

COMPANY - IKON Communications

CLIENT - Commonwealth Bank Australia (CBA)

SPONSORED BY
www.aana.com.au

OBJECTIVE

Just before the television show The Block was aired, IKON identified there were $114 billion of council approved renovations about to start, presenting huge potential not tapped into by other financial lenders. The agency was charged with creating a campaign that would allow CBA to talk to renovators in a helpful and non-intimidating way without the competitive noise that surrounds other marketing activity.

CAMPAIGN

IKON's strategy was based on the social changes of renovations becoming a growing trend within the homeowner market. One of its first steps was to take the bank's existing Viridian home loan product and rebrand it as the renovators' home loan. Repositioning of the product made it the obvious choice for borrowers interested in renovations by using the equity they had built from their existing property. As part of the campaign, the agency booked two 15-second television spots to run nationally over the 12-week duration of the program to complement the in-program use of Viridian and lift awareness. This was supported by print campaigns placed within renovation features across various magazines and newspapers aimed at the target market. Ikon worked closely with creative agency 360 to create visual links to ensure that with identical creative imagery, the connection between Viridian and the product showcased within The Block could be made.

RESULTS

For every $1 invested in marketing, an ROI of $3.74 was secured. It is a rare mass communication vehicle that can deliver nearly a 400% profit return in today's environment. The success of The Block campaign was also supported by an awareness study commissioned by the Nine Network. The CBA campaign drove 11% unprompted awareness versus the other tier-two sponsors of only 5%, while prompted awareness for CBA Viridian was at 29% versus the average of 15%.

JUDGE'S COMMENTS

"An interesting agency-led initiative, which ultimately became the brief. Exploiting a consumer trend of record council-approved renovations, the agency influenced the rebadging of an existing product and built a campaign around the renovation trend via The Block. "The result was measured in profit to CBA with an ROI of nearly four times the investment.".