Santander has installed giant taps gushing with coins on billboards in London and Manchester to publicise the bank’s offer of monthly cashback on household bills.
Created by advertising agency Engine Creative, the execution is a striking use of “special build” out-of-home media.
The execution memorably promotes Santander’s offer of cashback on household bills such as gas, electricity and water for holders of its 1|2|3 Current Accounts.
The huge red taps have been installed on outdoor sites in Kingsland Road, Hackney in London and Piccadilly Gardens in Manchester. The London site will run during the first two weeks of November.
Engine said the cashback taps are an extension of the bank’s latest campaign which launched in September and plays on the idea of showing household appliances as symbols of the money back offer.
The special build format helps Santander’s offer stand out in a market which struggles to get people’s attention.
Research from Dentsu shows that over half of UK adults don’t notice financial advertising and only 4% will consider switching current accounts.
Dan Sherwood, director of Marketing at Santander, said: “With customer’s bills increasing we wanted to bring to life the cashback customers can receive each and every month with our 1|2|3 current accounts.
“We really wanted to get people’s attention, given the benefit is so relevant right now, hence a giant red tap!
Jo Moore, creative director at Engine, said: “With this campaign we needed to demonstrate how Santander 1|2|3 cashback current accounts provide unexpected rewards on household bills.
“Our comms approach was to launch boldly, make this benefit the star of the show and drive fame for Santander.
“The physical nature of out-of-home (OOH) in general and the special build execution format creates disruption at launch, ensuring attention and planting the idea in people’s memories to be retrieved at the moment of truth. All this in an otherwise low-interest category.”
In addition to cashback, 1|2|3 Current customers can earn 0.3% gross/ AER (variable) interest on balances up to £20,000, as well as benefit from the bank’s Retailer Offers, which enable customers to earn up to 15% cashback on their debit and credit card spending.
The service gives customers the ability to select offers from a wide range of retailers, from high street clothing brands to hotels, and earn cashback when they make their purchase with their Santander debit or credit card.
Recent econometric modelling carried out by Data2Decisions showed OOH to be one of the three most effective channels in driving Return On Investment, alongside TV and Cinema.
Engine Creative is the lead creative agency on the campaign with the idea developed by Ed Tuddenham and Martin Lindley.
Production was handled by Posterscope, MediaCo and Hogarth. Media planning and buying is through Carat.