Sbab: THE LOSS GENERATOR

Credits & Description:

Type of entry: Product & Service
Category: Financial Products & Services
Advertiser: SBAB
Product/Service: BANKING
Agency: UM Stockholm, SWEDEN
Client: SBAB
Product: BANKING
Entrant: UM Stockholm, SWEDEN
Type of Entry: Product & Service
Category: Financial Products & Services
Advertising Agency : LE BUREAU Stockholm, SWEDEN
Media Agency : IUM Stockholm, SWEDEN
Entrant Company : UM Stockholm, SWEDEN
Account Director: Jochum Forsell (IUM)
Print/Ooh Planner: Marie Ros (IUM)
Digital Planner: Daniel Silander (IUM)
Account Director: Gustaf Sehlstedt (Le Bureau)
Planner: Albin Gustafsson (Le Bureau)
Art Director: Julia Stenius (Le Bureau)
Account Manager: Ulrika Andrinsson (Le Bureau)
Final Art: Ylva Krantz (Le Bureau)
Final Art: Veronica Sokolow (Le Bureau)
Copywriter: Claes Kjellström (Le Bureau)

Results and Effectiveness:
The two flights had a direct effect on increase in weekly deposits.
Sales/financial results were extremely strong and beyond all expectations:
- After the May/June flight, weekly deposits increased +279%!
- After the Oct/Nov flight the increase was +663%, Q4 average vs. Q1 average.
- SBAB market share for savings increased from 1.84% (Jan-Nov 2012) to 2.69% (Jan-Nov 2013). The highest market share increase among all banks.
- The SBAB share of new accounts 2013 was 15%. Meaning SBAB has the highest market share for new accounts, despite being a small bank.
- In October-November alone, SBAB market share for new accounts was 34%!

Creative Execution:
We wanted to show how much Swedes lose from low interest rates through smart use of media.
Dailies
- 3 consecutive ads/pages. First ad: “This second, Swedes lose 499 SEK”, second “Tomorrow you will have lost 43,099,072 SEK”, and third “In one year, you will lose (gulp) 15,731,161,388 SEK”
Outdoor:
- Bus shelters: “2 minutes to the bus? By then you have lost 59,860 SEK on low interest”
- Underground: consecutive ads in escalators: “Every second, Swedes lose 499 SEK on low interest”, “Now you’ve lost 2,494 SEK” …etc.
- Streets: Digital Eurosize ads, where we brought out “The Loss Generator” as real time counters.
Online:
- Situation based ads, e.g.: “When you Facebook for a quarter, Swedes have lost 449,100 kr…” …etc.
TV
- A spot explaining how much Swedes lose, portraying the big banks as profit-making clowns.
We deployed the campaign in two flights: May/June, and October/November.

Insights, Strategy and the Idea:
In Sweden, the biggest commercial banks have a market share 80%+. They offer poor savings account interest rates. People are aware of this, still they don’t change bank.
We understood that customers don´t realize how much money they lose by using the wrong savings account.
SBAB – a state owned small bank - needed to explain to bank customers how much they lose, and because of this open an account with SBAB, increasing weekly deposits.
We built a strategy focusing on explaining what low interest rates means financially in an understandable, challenging and fun way. We strived to make this tangible, explaining the amounts lost by relating to actual situations.

We created “The Loss Generator”; a digital, always-on counter, showing how much Swedes lose by saving money in other banks.
We brought “The Loss Generator” to broad media, relating to the consumer’s situation: when commuting, when reading a newspaper, etc.