Bank of America Promotes Cash Rewards with Digital Signage

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This digital signage spot ran in approximately 2,000 Bank of America Financial Centers, promoting the Cash Rewards credit card program. It celebrated turning everyday purchases into big-time cash back. This “backyard barbecue” story resonated perfectly with our target audience, effectively communicated card benefits and produced results that wowed.

Nominating Company: Bank of America, , Charlotte, North Carolina and TPN New York, New York
Venue: Bank of America, Charlotte, North Carolina
Project: Bank of America digital signage spot
Category: Business & Government Services

BACKGROUND
Bank of America customers know they shouldn’t have to go out of their way to earn cash back. So we created a spot that brought earning rewards down to earth. We mixed a warm and inviting shoot with some eye-grabbing animation and a conversational tone that put humanity back into the cash back category.

Our objectives were two-fold: 1) Increase awareness and interest in the product, and 2) Drive associate customer conversations to deepen relationships.

We reached customers in strategic locations in the Financial Centers: At/near the teller line, in waiting areas, and where relevant, exterior windows. By placing our digital signage in areas where the customer was more likely to stop and engage, we ensured recall. And by teaming this particular spot in our playlists with other relevant messaging (weather, etc.), we increased the likelihood of our customers catching the message and taking action.

CHALLENGES
1) Customer mindset: Unlike other retailers, Financial Center customers are not shopping. They’re running an errand. Most are on routine, task-driven missions with a goal to get in and out as quickly as possible.
2) Clutter: The market is flooded with credit card offers, most of which target customers for cash rewards. It was our task to stand out in a crowd of rewards programs and capitalize on a significant opportunity to further build, deepen and protect the relationships we already have.
3) Viewer interaction: Each frame of our DCN spots must be able to live on its own to ensure that even a busy customer who briefly glances at the screen can still gain a quick understanding of the product benefit. Also, DCN audio is often turned off, so our key visuals and super graphics must be strong enough to tell a comprehensive story on their own.

SOLUTIONS
We leveraged Financial Center channel communication best practices in order to drive maximum impact.
• We utilized visuals that were unexpected for a banking center, yet highly relatable and engaging (a fun, casual cookout/party scene with delicious food imagery)
• We achieved a see-and-say link between copy and imagery/footage so our customers could gain a quick, clear understanding of our card benefits (we teamed specific items like pie and gas with the percentage of points they’d earn)
• We paid off card features with supers and visuals that provided a clear customer benefit and a tangible reason to believe
In addition, we leveraged insights about the digital customer journey in the Financial Center and zone dwell times to develop a 30-second spot that leverages digital signage best practices:
• High level of movement/animation/footage that’s eye-grabbing/engaging
• Fun, relevant product demonstration
• Limited copy
• Clear, concise supers
• Direct, simple call-to-action

bankofamerica_apexawards_business_cashrewards_2.jpegRESULTS
The Cash Rewards DCN spot, in combination with our static messaging, broke through the crowded market and overcame the challenges of our Financial Center channel.

Voice of Customer Results:
• This Cash Rewards spot had the highest product recall of any promotional DCN spot in rotation (weather was #1)
• More than two-thirds (67 percent) of customers found the messaging relevant and appealing: “I like the cash back because it relates to everybody. Everyone has to make dinner. It shows you what you could get more back for.”
• Nearly half (48 percent) of all customers took/planned to take action by applying for a credit card/requesting an application
• The Cash Rewards messaging left 59 percent of customers with a more positive impression of Bank of America, and 56 percent wanted to learn more.

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