OCBC Bank has launched its "Simply spot on" campaign, which aimed to reach out to young mothers and young men in Singapore to provide financial planning services. The campaign aimed to let these target audiences know that even in tough times such as now, it is possible for them to balance both their needs and future aspirations.
Done in collaboration with creative agency GOVT Singapore, the campaign execution consisted of two television commercials (TVC), one targeted at young mothers and another targeted at young men. The respective ads showed how the target audience pursuing different interests while staying prepared for their future. It ends off with a tagline "Let us help you do it all. That's Simply Spot On."
The campaign is also amplified with print ads to ensure that the message not only reached the target audience, but also the people around them. The print ad featured the young man and young woman who appeared in OCBC's TVCs. Additionally, OCBC also enhanced its OCBC Life Goals portal, a step-by-step guide which helps Singaporeans project what they need for longer-term goals such as retirement and sending their children to university by factoring in their current income and expenses.
OCBC chose to target young men and young mothers in particular as its collected data through the OCBC Financial Wellness Index showed that 60% of mothers put their children’s education before their own retirement, while 57% of young men would rather spend on themselves now than plan for their future. Additionally, 59% of young Singaporeans are prioritising their now over their future. Through its surveys and conversations, OCBC also found that four in five Singaporeans underestimate their retirement needs by 32%, while one in five Singaporeans suffered financial loss because they turned to friends and family for advice. Thus, the bank chose to educate these groups of people for the campaign.
Koh Ching Ching, executive vice president, head of group brand and communications, OCBC Bank, said: “Living up to our brand promise of being Simply Spot On is a long-term endeavour. Truly understanding the needs and challenges of Singaporeans is an important first step." She added that COVID-19 has had a big influence on Singaporean's financial choices, and the company has hence designed the 2020 campaign to show that competing priorities in life can be harmonised to achieve financial wellness with the right support.
GOVT’s creative directors, Pradeep D’Souza and Katherine Khor said: “It was really refreshing to speak to a highly targeted group of individuals about very specific issues, and that was only possible because of the valuable insights gleaned from the massive amounts of data gathered. So hats off to the data guys. They made it easier to understand what people truly need and communicate a clearer solution to those who needed it the most.”
Earlier in July, OCBC launched a campaign titled "The Dining Out Effect" during phase two of Singapore's economy recovery road. The campaign aimed to provide dining-out offers as Singaporeans look forward to eating out again after restaurants and F&B outlets are allowed to re-open and resume dining-in operations.
Also done in partnership with GOVT Singapore, the three-part campaign was conceptualised, shot, edited and produced in four days. It featured theatre actors showing a range of emotions Singaporeans might feel to be able to dine out, namely happy, excited, and touched to tears. The ads also featured dining deals by OCBC Cards to help Singaporeans celebrate dining out again.