Find a way to tackle a market full of offer-chasing credit card customers with poorly suited products, no brand loyalty and an exceptionally high tendency to churn.
The discovery of two extremes in consumer approaches to spending, helping us target by mindset and ultimately increase product consideration as well as brand favourability, preference and consideration.
A fresh perspective needed a different approach. So, we did a little digging, feather-ruffling and cross-department networking. This helped us unearth some valuable data sets. We then took the unprecedented step of stitching them together, leading us to the discovery of our two distinct customer mindsets.
Each describes two different approaches to spending. Maximisers are pleasure seekers looking to maximise the impact of their spend with reward points. Minimisers are sensible types, driven by a need to feel in control. St.George’s much-loved customer-champion, Little Dragon, was used to personify the mindsets and effectively flag down the different audiences.
With insight about two clear customer types confirmed, we were able to go purposely about audience finding, armed with two perfectly matched St George products: Amplify Rewards credit card for our Maximisers, Low-rate Vertigo credit card from our minimisers.
A low rate vs a rewards card.
Based on which bait a customer first clicked on in digital display, the media plan served up a sequence designed to play wholly into the mindset identified, through an interconnected eco-system of social, digital display and retargeting.
Social content spoke to specific customer mindsets.
Display banners retargeted known Minimisers.
Display banners retargeted known Maximisers.
