Bank of America, Merrill Edge, Face Retirement, Starcom MediaVest Group US
Merrill Edge, a new entry in the online brokerage segment, had aided awareness that was considerably lower than the leading brand in a category that requires substantial knowledge and involvement from its customers. To gain a larger foothold, Merrill Edge needed to bring in new customers to create a lasting relationship. Of their new target – mass affluent people – 52% did not realize that they would not be able to save enough to maintain their current lifestyle in retirement. Why? For younger people, the person they will become in 30 years is still a stranger to them; they can’t identify with that person yet. So Merrill Edge gave the target a glimpse of that unfamiliar future.
Online, consumers put in their personal information (age, gender) and took a picture using a webcam. The site’s app not only generated what the person would look like in 30 years, but also how much money they will need to live in the future. The novelty of the app enticed sharing across social networks with participants showing their friends what they will look like and how Merrill Edge can help them face retirement. More than 430,000 consumers visited the tool. Brand awareness rose 11.2 percentage points and organic search increased 156%.
