With no player supporting start-uppers properly answering consumer demand and supporting their ideas financially, K&H Bank needed to turn the trend around: they needed to directly attack a social issue at the heart of society, by re-inspiring the proud Hungarian entrepreneurial spirit!
Newsflash: 95 in 100 Hungarian SME’s are failing! The proud entrepreneurial spirit of the Hungarians is fading with confidence at a 7 year low! As SME’s make up almost half of GDP, and ensure 70% of the workforce employed - the backbone of the Hungarian economy is on a knife edge.
Failure of start-up successes is common due to the lack of knowledge about ’where’ and ‘how to’ start new enterprises. On the other hand, the mistrust over the financial institutes is great: the ‘SME confidence index*’ has been negative since 2010 Q1.
K&H realised that despite the economic conditions of the country, many Hungarians still dreamed of starting a business, but were scared of failure and didn’t have the skills to be successful long term.
Despite the fact that the government launched new tax regulations in favor of the SMEs, the segment didn’t start improving on an expected level. With no bank in the market offering any guidance to start-uppers, K&H saw an opportunity to play an authentic role in helping Hungarians achieve their dreams!
In order to directly address the issue, the campaign needed to…
- Inspire: Attack this crisis of confidence and inspire Hungarians by helping them spot gaps in the market they could take advantage of in their local area.
- Support: Attack the conceived complexity of starting a business by arming aspiring entrepreneurs with the skills to sustain success.
- SME confidence index indicates the business expectations of the domestic firms for the next year
Even a bank with a conservative image could activate people: moving away from the old fashioned ‘push’ strategy toward a more interactive, ‘pull’ solution and catch the attention of the right audience. We let SME’s face real demand of people and let people hear their voice by expressing their needs.
The foundation of our strategy was a dual targeting of the two segments: by introducing a national demand mapping we activated citizens in order to let them tell us their needs on what kind of services they are missing in their environment.
On the other hand, we introduced the real needs of citizens to the entrepreneurs, in order to help them establish a successful business model. Gaining back their trust was a key in the communication strategy, therefore K&H Bank offered professional support and guidance for SMEs to fine-tune prosperous execution of their start-up ideas.
K&H created the ‘Gap in the Market Map’. A dynamic demand mapping platform which allowed real Hungarians to discuss and share what new businesses they’d love to see in their local area, giving food for thought to aspiring entrepreneurs:
- an idea exchange platform between SMEs and citizens, where people could pin on the map an exact location and type of business they would love to have (e.g. hairdresser at the corner)
But a dream without ‘know how’ is still just a dream, to reward those who embodied the national entrepreneurial spirit and showed interest in starting a business through the map, K&H offered professional guidance and financial support, giving them all the tips and tricks they needed to succeed!
- if they showed interest in an idea, K&H shared with them useful tools and researches as guidance while proving unique financial offers.
The microsite was promoted across all campaign touchpoints on TV, OOH, Programmatic and Experiential to capture the imagination of Hungarians across the nation, from Budapest, into the countryside:
- awareness-objectives delivered by TV, digital and OOH
- Digital media focused on delivering the right message to the right people by using segment-based creative materials with interest targeting.
- national roadshow with a bakery and a flower shop with hostesses built on trucks to make people’s mornings brighter
- Viral video helped conveying the message ‘closer-to-people’
- It was #1 trending story nationwide in the most influential media channels (TV news, blogs, social channels) thanks to our PR strategy.