Bank Of America: FACE RETIREMENT

Credits & Description:

Advertiser: BANK OF AMERICA MERRILL LYNCH
Agency: STARCOM MEDIAVEST GROUP
Category: Financial Products & Services
Advertising campaign: FACE RETIREMENT
Vice President Director: Jeremy Tate (Starcom MediaVest Group)
Associate: Dee Ersu (Starcom MediaVest Group)
Supervisor: Patrick Kelly (Starcom MediaVest Group)

Execution
Through digital technology, we painted shocking portraits of what DIY investors will look like in 30 years to introduce them to their future selves, along with how much they will need to live, to get them thinking about saving for retirement. At faceretirement.merrilledge.com, consumers input their age and gender and the site application uses a person’s webcam to take a current photo. It ages their photo to reflect what they will look like in future years and forecasts how much it will cost to live at that age. By enticing sharing across social networks with the option to share directly to Facebook built right into the app, people shocked like-minded friends with their future selves, showing how Merrill Edge can help them face retirement.

Strategy
Merrill Edge is a new entry in the online brokerage segment where “new” does not necessarily mean better. Do-it-yourself (DIY) investors who are entrenched in one brokerage are unwilling to endure the pain of switching to a new service. Plus, with low awareness of Merrill Edge, many potential investors will grow old and retire without ever knowing it exists. What 52% of DIY investors had yet to realize is that they will not be able to save enough to maintain their current lifestyle and retire when they want. The reason they aren’t saving enough is because the person they will be in 30 years is a stranger to them. They can’t identify with the older self that they will one day become. We wanted to stop the inertia and force them to FACE RETIREMENT by giving a glimpse into what they will look like in their sunset years.

Effectiveness
DIY Investors were now more willing to Face Retirement with Merrill Edge and brand awareness increased 11.2 percentage points in digital media as a result. Over 434,000 people visited the app, with 80% completing the tool. Social media exposure reached another 193,000 estimated people and organic search increased 156%. Before, people and the media refused to even talk about Merrill Edge, but now over 500 outlets have written posts or talked about about the “Face Retirement” app. Now, people have seen what retirement looks like and realize Merrill Edge can help make it happen.