Saving is a virtue and cultivating this exemplary habit among children these days is no mean feat. With this in mind, OCBC recently unveiled a Y&R Singapore-developed campaign to launch Mighty Savers, a saving programme designed like a child’s game, to make saving fun and motivational for children. For every $1 the child saves, he or she will be rewarded with a sticker that can be pasted on the Mighty Savers Card. An attractive gift will be given once the child completes all 20 stickers and deposit the $20 saved. Subsequently, a new set of card and stickers will be issued to help the child continue the habit of saving.
Spearheaded by print advertising, the campaign adopted a fun and emotive approach to reach out to children and parents respectively. It features a child dressed up as a superhero, complete with a cape and goggles, proudly showing off his Mighty Savers Card and sticker. Coupled with the headline “Mighty Savers make saving fun for your child”, the campaign evokes a sense of adventure and excitement for both the parents and their child.
With all major banks in Singapore advertising the various saving and investment plans catered for adults, there is a lack of knowledge and information in the market on financial packages catered for children. OCBC’s Mighty Savers campaign filled this void and embarked on an aggressive ATL advertising campaign to educate parents on the importance of saving up for their little loved ones as well as showcasing the bank’s complete financial package for children. Aimed at encouraging parents to nurture positive saving attitudes in their children, the Mighty Savers programme also provides a starting platform for young parents to give their child the best financial head-start in life through a unique interest-earning children’s savings account.
In order to give parents a more accessible reason to open a Mighty Savers account, the campaign was strategically launched right after Chinese New Year to leverage on the disposable cash that their children had collected over the festive period. Free limited edition Mighty Saver gifts were thrown in as an incentive for parents to open a savings account for their children, who will in turn, receive a Mighty Savers card once the savings account is activated.
As part of the strategy to gain traction amongst children and parents alike, OCBC transformed the Mighty Savers icons, Simon and Sally, into life-size costumed mascots which performed and interacted with children at various roadshows during school holidays as well as special Meet ‘n’ Greet sessions at OCBC bank branches. Simon and Sally were such a hit at the performances as they drove home the message of saving in a more tangible manner.
Other than advertising on bus panels and in the mainstream press, the media strategy also encompassed reaching out to children through an educational newspaper called Thumbs Up. The latter is a fresh take of the Mighty Savers campaign which features an advertorial, developed to convey the merits of saving in an Aesop fable-like manner. Thumbs Up is circulated to schools once a week and children are able to relate to the stories and identify with the merits of saving more effectively.
The feedback on the Mighty Savers campaign has been extremely positive. As a result of the innovative marketing strategy, the effective roll-out of media usage as well as the fun iconic status of the Mighty Savers, OCBC has since seen a seven-fold increase in terms of children accounts being opened.