2015 Bronze Financial Services

TMW Unlimited

HSBC

Student Acquisition Campaign 2014

The Team
Alastair Hutchison, Preston Rutt, Sam Eccles, Charlotte Tullett, Charlie Taylor

Contributors
Mindshare - Media, We Are Social - Social Execution, St Ives - DM / Print

Campaign overview

With the opportunity to recruit customers for life, the student bank account market is fiercely competitive. HSBC wanted to increase its share by acquiring new customers and migrating current youth account holders. It aimed for tough increases on the previous year’s results, but with reduced budget.

By positioning an Amazon voucher incentive as both a short-term win and a kickstart to students’ ambitions for their future selves, the campaign increased HSBC’s share of the student market from fifth place to third and generated exponential additional future revenue.

Strategy

At face value, HSBC’s £60 Amazon voucher incentive couldn’t beat Santander’s market-leading railcard offer. So its Future Self campaign took a more emotional position on the university journey to change students’ perception of HSBC.

Tuition fees and high graduate unemployment play on students’ minds even before they start university, so they are already thinking about how to get ahead for future career success. HSBC positioned its incentive by showing how a well-spent £60 voucher in the short-term is an investment in their future selves.

The bank partnered with UCAS to make existing youth account customers feel valued and ensure they knew about the offer. It mailed university applicants before their A-levels to wish them luck and again immediately after results day to congratulate those who had won a university place.

Creativity

The creative talked to students about their ambitions after graduating, from becoming a record producer to being a botanist, and suggested how they could kickstart it today by buying headphones or a yukka plant. This simple, strong idea used key visuals that worked effectively across channels.

The multi-channel campaign included in-branch displays, targeted digital display and content on key student websites. A mobile-optimised landing page detailed the account features that benefitted students and offered guidance to help them cultivate their future selves.

A #myfutureselfie competition jumped on the celebratory selfies students were already sharing, but invited them to capture more considered photos that expressed what they aimed to become. The best selfies received funding to kickstart their future, with the overall winner receiving £3000.

Results

The campaign achieved incredible reach among ambitious students, exactly the market HSBC wanted to bring on board for future growth, and drove the highest new-to-bank customer acquisition in nine years.

Student bank account openings beat the previous year and increased HSBC’s share of the student banking market from fifth place to third.

Branch displays attracted customers, boosted positivity among staff and won HSBC’s global internal award for Marketing Campaign of the Year 2014 within the business response category, as well as overall Gold.

The most important result, however, was inspiring students to think about their future selves and how they could start early to make the most of their potential.