Visa: CLOSET CURRENCIES

Credits & Description:

Advertiser: VISA
Agency: DRILL, VECTOR GROUP
Category: Best Acting Performance
Copywriter: Ken Matsuda (ADK)
PR Producer/Project Manager: Michiru Muraki (Initial (Vector Group))
Social Media Planner: Keiichi Shimada (Signal (Vector Group))
PR Consultant（newspaper Web）: Nomurainitial (Vector Group) (Initial (Vector Group))
Account Manager: Masako Yamada (ADK)
PR Consultant（TV Media）: Atsuko Maruyama (Initial (Vector Group))
PR Consultant（TV Media）: Chiemi Akiyama (Initial (Vector Group))
PR Director: Fuyuka Arita (Initial (Vector Group))
PR Consultant（magazine Web）: Miho Chikuma (Initial (Vector Group))
Executive Producer: Osamu Enari (Drill)
Social Media Planner: Wataru Amano (Signal (Vector Group))
Planner: Keisaku Ibuki (Drill)

Strategy
We focused on the unspent foreign currencies that are lying around people’s closets, and called this 'Closet Currencies'. All travelers can related to this seemingly small amount of waste. We intend to appeal to the 'MOTTAINAI' aesthetic (a sense of regret for wastefulness) that is deeply ingrained in the Japanese and to replace the part of the budget with credit card.

Client Brief Or Objective
Our mission was to increase credit card usage among Japanese overseas travelers, in other words, to break Japanese exchange style that hadn’t changed for decades.

Campaign Description
Our mission was to increase credit card usage among Japanese overseas travelers. However, there was a large barrier: the Japanese strongly believe that 'cash is king'.When travelling overseas, over 70% of Japanese travelers exchange enough foreign currency to cover their entire budget prior to departure, without clear reasons for doing so.No matter how much Visa proclaimed the superiority of credit cards, stating, 'It’s a better deal. It’s safe', this style hadn't changed for decades.We decided to take a completely different approach. We chose to appeal to the 'MOTTAINAI' aesthetic (a sense of regret for wastefulness) that is deeply ingrained in the Japanese. We focused on the unspent foreign currencies that are lying around people’s closets, and called this 'Closet Currencies'. All travelers can related to this seemingly small amount of waste. In fact, a study found that over a total of $16 billion dollars’ worth of foreign currencies are lying unused in Japan. Over-exchanging currencies is creating a large amount of waste. This information stimulated Japanese people’s sense of 'MOTTAINAI', and spread quickly. It was picked up by news and other TV programs, newspapers, magazines, websites, and SNS with a media exposure equivalent of $4.5 million dollars.As a result, the number of people who exchange cash for their entire budget was reduced 10%. With Visa’s dominant share of the market, it goes without saying that this 10% contributed greatly to their sales.

Effectiveness
This information stimulated Japanese people’s sense of 'MOTTAINAI', and spread quickly. It was picked up by news and other TV programs, newspapers, magazines, websites, and SNS with a media exposure equivalent of $4.5 million dollars.As a result, the number of people who exchange cash for their entire budget was reduced 10%. With Visa’s dominant share of the market, it goes without saying that this 10% contributed greatly to their sales.

Relevancy
When travelling overseas, over 70% of Japanese travelers exchange enough foreign currency to cover their entire budget prior to departure, without clear reasons for doing so.No matter how much Visa proclaimed the superiority of credit cards, stating, 'It’s a better deal. It’s safe', this style hadn't changed for decades.

Execution
In our research, over a total of $16 billion dollars’ worth of foreign currencies are lying unused in Japan. At first, we spread this fact to the reliable media, such as newspaper, as big social news. And then, we spread these articles to the other media, such as TV, magazine, with the context that travelling with much cash is wasteful and old.