Letter with 10% Less
Banco Espírito Santo (BES)
Issue 7 | July 2008
Agency
Proximity Portugal
Creative Team
Nuno Duarte - Creative Director;Marco Barrento - Creative Supervisor;Cristina Falcão - Copywriter
Production Team
Orlando Baptista - Production Manager
Other Credits
Pedro Barros - Client Services Director;Filipa Figuinha - Account Director
Date
January 2007
Background
Banco Espírito Santo had launched a new product in the market – the BES 100% current account. This account’s major differentiating characteristic is the fact that it pays 10% towards all house bills: gas, light, water, telephone, mobile and cable TV. In order to benefit from this, customers just had to put the aforementioned bills on direct debit at BES. The agency had to communicate this promotion to a BES client database that still didn’t have their bills on direct debit.
Idea
A mailing was sent to the client database stating that ‘10% of their bills were none of their business’. Upon taking the letter out of the BES envelope, 10% was held inside, demonstrating the effect the offer would have on their house bills.
Results
12,000 mailings were sent out with 736 clients subsequently opening an account – a 6.13% response rate.
Target Audience
BES clients with no bills on direct debit at the bank.
Size
12,000 mailings
Our Thoughts
I imagine the Portuguese hate their banks as much as we hate ours. (Except for First Direct customers in the UK, who are all brand evangelists.) So for this letter to get more than 6% response is good-going. Someone thought, how can we do it just a little bit different? And came up with the idea of the bound-in letter.