Supporting customers’ monetary literacy—a model perspective
Ansis: It is important that our motivation for the campaign depends on both consumer demand and the Sparkasse’s passion to support customers so that they have the financial skills they need.
The topic of financial literacy is firmly anchored in our sense of social responsibility. However, this is compounded by customer insights that show Germany has a larger gap in terms of financial literacy than other European countries. We want to help close this. It’s much more than a marketing campaign. As a company, we are committed to helping those we serve build their financial literacy.
How does financial literacy fit into your marketing strategy?
Susanne: Our marketing strategy is mainly based on our mission to “improve people’s lives”. Running a financial literacy campaign was therefore an easy decision and very closely aligned with our strategy.
Our marketing doesn’t focus on products, but rather on telling stories relevant to the lives of our consumers. The goal is to remain the number one financial partner for German consumers, and we had specific measures for the campaign that were tied to both brand impact and sales.
What did you learn from running the campaign?
Susanne: The campaign motifs focused on five key topics relating to the needs of our customers: family, everyday life, life at home, work and life abroad and the future. Using examples from our customers’ everyday lives, we have learned that the campaign is relevant for people like her.
We answered important questions about financial competence and at the same time positioned Sparkasse as a partner who is able to answer your questions. Overall, the campaign reached over 1.5 million people with particularly strong brand recall performance.
Ansis: In essence, we learned that financial literacy is something that touches the heart and mind. It’s an issue that consumers are aware of but sometimes aren’t sure how to deal with. This means that they were interested in engaging with our content and taking the necessary steps to help develop their own financial literacy.
When it comes to specific results, the campaign playout on Facebook and Instagram was really impressive.
We were able to reach our target group of women. The evaluation after the campaign showed that 34.9% were of the opinion that Sparkasse offers the right answers to money questions.