2015 Gold Financial Services
01 Dec 2015
Proximity London
Capital One
Credit Revelations
The Team
Suzanne Partridge - Managing Partner, Ursula Marrow - Account Director, Adrian Hoole - Join Head of Planning, Richard Blackburn - Creative Partner, Nick Moffat - Creative Partner, Kathy Howes - Senior Creative Producer/Art Buyer, Alec Barr - Account Manager, Adrian Hoole - Joint Head of Planning, Suzanne Partridge - Managing Partner, Katie Cummings - Digital Marketing Brand Manager, Jessica Maddux - Senior Brand Manager, Dom Miller - Brand Strategy and Advertising Manager, Katherine Ashton - Social Media Manager, Cath Hancock - Legal Specialist, Sally Camm - Director of Brand Communications, Lucy-Marie Hagues - Head of Marketing Strategy - UK, Renuke Samaransinghe - Associate Director, Sam Loram - Digital Manager, John Treacy - Executive Creative Director, Dave Jones - Designer, Melodie Hoke - Designer
Contributors
Starcom MediaVest Group - Media agency, Love - Video production
Campaign overview
70% of credit applications fail. When they do, it lowers the applicant’s credit score, something most didn’t even realise. Capital One’s mission was to launch QuickCheck, a tool that shows customers their credit card eligibility, without affecting their credit score, before they apply.
Capital One acknowledged the very real fears and confusion shared by people with poor credit and set out to engage them with a credible, empathetic and innovative campaign that was hard to ignore.
Credit Revelations delivered record levels of response and action from any single Capital One campaign, leading to tens of thousands of successful card applications from people who had previously feared rejection. And saving many more from damaging their credit ratings.
Strategy
Many financial brands sell affluent lifestyles, sidestepping the reality that millions of people have applications for credit cards declined every year. This naturally puts people off re-applying and limits their financial options.
Using QuickCheck, Capital One wanted to promote their mission to ‘Change Banking for Good’ by making credit checks clearer for millions of people. Its strategy balanced multiple objectives: to position itself as a transparent lender; acquire new customers; and reduce the number of failed applications.
From user testing, the team noted the compelling moment of surprise when QuickCheck
told users that they were eligible, contrary to their fears and expectations. By capturing these ‘credit revelations’, Capital One sought to convey its message with no actors, no script, just genuine stories and reactions.
Creativity
The team scoured the country for charismatic people who had been declined credit and were anxious about their credit score. They were interviewed where they felt comfortable – their home, work, allotment. Once at ease, they tried QuickCheck live on camera – a vital moment. Genuine reactions were critical to avoid creating just another bland testimonial, so the shoots were kept warm, human and helpful. With the right people filmed in an engaging way. CapitalOne made a genuine connection to its audience.
These ‘revelations’ fed an integrated digital and social campaign, with Facebook video and YouTube pre-rolls proving the perfect campaign channels. A consistent experience throughout the journey was important: if you clicked on Will’s video, Will met you on the QuickCheck page. Such touches gave the campaign the human element behind its success.
Results
The campaign delivered exceptional results. In three months the videos gained 4.2 million views, with two million minutes watched. Although viewers could skip after five seconds, 40% viewed the full video, proving they struck a chord. The 0.3% click-through rate far outperformed the 0.07% industry average and drove 300,000 visits to the QuickCheck landing page. The campaign beat the target of 100,000 users, with 50% going on to apply for a Capital One card. Total new customers rose 64% in 2014 with more than 27,000 successful card applications from people who feared rejection.
By encouraging customers to use QuickCheck before applying for a credit card, many avoided rejection and a damaging footprint on their credit file. The number of failed credit card applications fell 13%, with a 55% acceptance rate.
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